LONDON--(BUSINESS WIRE)--According to the latest market research report by Technavio, the global xenon lights market is expected to grow at a CAGR of close to 15% until 2020.
In this report, Technavio covers the present scenario and growth prospects of the global xenon lights market for 2016-2020. The report outlines the growth prospects and market analysis for the automotive industry, which is segmented into the technology (halogen, xenon, and LED) and by the application (interior and exterior lighting).
“Lighting in automobiles, including xenon lighting, was traditionally introduced as a basic light and signal system. These systems direct the driver and facilitate communication with those driving other vehicles. Lighting systems have changed over the years owing to advances in technology, design, and applications. With changing lifestyles and preferences of end-users the focus is more other facets such as convenience, comfort, design, safety, and utility,” said Sunil Kumar Singh, one of Technavio’s lead industry analysts for lighting.
Global xenon lights market by geography 2015
- APAC 45.34%
- EMEA 29.36%
- Americas 25.30%
Request sample report: http://bit.ly/1Yb4KRJ
Xenon lights market in APAC
The xenon lights market in APAC was valued at USD 1.65 billion in 2015. For xenon lighting, APAC will lead the market with a strong growth rate during the forecast period. The growth in APAC will be mainly propelled by China and India since both the countries are the largest markets for automotive production in the region. India will be one of the fastest growing markets for automotive lighting, and China's automotive industry will slow down in 2016. However, the Chinese market will recover soon and will grow after 2017. The growth in this region is mainly characterized by growing economies, increasing income, a rising population, and changing consumer lifestyles.
Many global OEMs are shifting their manufacturing units to this region. It has led to constant advances in LED technology in these markets, as well as the entry of a number of foreign automobile manufacturers with the latest technologies. This is leading to the rapid growth of the automotive LED lighting segment.
Xenon lights market in EMEA
The xenon lights market in EMEA was valued at USD 1.92 billion in 2015. The xenon lights market in EMEA will grow at a steady pace during the forecast period. In 2015, Germany, the UK, and France were the leading countries adopting xenon lights and had the highest market shares, as the biggest OEMs are based in these countries.
The EU has introduced strict lighting and safety regulations that have resulted in a shift from the conventional halogen lighting to xenon lighting in some selective areas such as LED lighting, adaptive front lighting systems, and daytime running lamps. Many luxury car manufacturers are based in EMEA, which also led to the adoption of xenon lights in the region. The phasing out of halogen lighting will pose an opportunity for the players in the market. Advances in lighting panels and display technologies, along with new lighting applications such as commercial buildings will drive the global xenon lights market.
Xenon lights market in Americas
The xenon lights market in the Americas was valued at USD 1.65 billion in 2015. The xenon lights market in the US will grow steadily during the forecast period. Increased emphasis on energy efficiency by the government and individual consumers is facilitating the shift to technologies such as LEDs and xenon lights. The market is highly competitive in nature with a number of new advanced lighting technologies and products being introduced by vendors to differentiate their product offerings.
Vehicle suppliers and manufacturers are therefore focusing on lighting technologies, and this has led to greater innovations in exterior lighting. Superior technologies such as xenon are driving the automotive lighting market in the US.
Browse related reports:
- Global Automotive LED Lighting Market 2016-2020
- Global Automotive Lighting Market 2016-2020
- Automotive LED Lighting Market in the Americas 2015-2019
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact enquiry@technavio.com with your requirements and a link to our subscription platform.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
