Global Automotive Perimeter Lighting System Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about 12% from 2020 to 2027, reaching nearly US$ XX Mn.
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Global Automotive Perimeter Lighting System Market: Overview
Increasing safety concerns and convenience of the driving vehicle are the major growth factor of the perimeter lighting system. In this market, various types of lighting technologies are in use. Some of them are LED light, Florescent light, Holo light, and in these entire lights segment LED light is getting more popular due to its efficient power consumption and great illumination power. LED light's life cycle is more compared to other types of light and thus makes it more reliable and safe.
Perimeter lights require less space than other ordinary lights. Awareness of energy-saving and environment concerns are fueling the demand for LED lights due to its characteristic. LED lights need less space than ordinary light. LEDs are compact in design. These lights have integrated and accurate design structures and they are safer than others and hence will increase demand. Governments are implementing strict rules for safety which will drive the future market of perimeter light.
Although, High cost of manufacturing component, and current market condition affecting the market volume, it is expected this market will show high growth in the forecasted period
Market Trend in Perimeter Light.
Current automotive market is in innovation phase implementing innovative lighting to vehicle like sequential signaling light pattern. LED notification by turning on light of left panel and right panel.
Approaching lighting on feature, this feature enables vehicle lighting system to turn on when the wireless remote comes near to vehicle.
Global Automotive Perimeter Lighting System Market: Regional Overview
Europe region is dominating the perimeter lighting market due to the high demand for a luxury car, the same features demand is in a passenger car, so technological advancement makes it possible and the Asia Pacific region also shows a rise in demand for perimeter light enable vehicles. MMR forecasts the Asia Pacific will be a major market for the perimeter light market. Other regions also regulating new safety laws and European standards of vehicle norms adaptation can be found in many region this will drive future market of perimeter light.
Global Automotive Perimeter Lighting System Market1
The MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the Automotive Perimeter Lighting System market size. By Light Type, the LED Light segment was valued at US$ XX Mn in 2020 and is expected to reach US$ XX Mn by 2027 at a CAGR of 12% during the forecast period.
The report also helps in understanding Automotive Perimeter Lighting System Market dynamics, structure by analyzing the market segments and projects the Automotive Perimeter Lighting System Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Light portfolio, growth strategies, and regional presence in the Automotive Perimeter Lighting System Market make the report investor’s guide.
Scope of the Automotive Perimeter Lighting System Market: Inquire before buying
Automotive Perimeter Lighting System Market, by Light Type
• LED Light
• Halo Light
• Fluorescent Light
• Others
Automotive Perimeter Lighting System Market, by End User
• Passenger Vehicles
• Medium Commercial Vehicles
• Heavy Duty Commercial Vehicles
• Light Duty Commercial Vehicles
• Electrical Vehicles
Automotive Perimeter Lighting System Market, by Region
• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
Key players operating in Automotive Perimeter Lighting System Market
• Gentex
• HELLA
• KOITO MANUFACTURING
• Magna International
• Samvardhana Motherson Group
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