(MENAFN- PR Newswire)
SAN FRANCISCO, Oct. 12, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Automotive Lighting - Global Market Trajectory & Analytics" . The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE Edition: 7; Released: April 2021 Executive Pool: 432 Companies: 16 - Players covered include DENSO Corporation; Hella KGaA Hueck & Co; Hyundai Mobis; Koito Manufacturing Co. Ltd; Koninklijke Philips N.V.; Osram Licht AG; ROBERT BOSCH GmbH; Stanley Electric Co. Ltd; Valeo; Zizala Lichtsysteme GmbH and Others. Coverage: All major geographies and key segments Segments: Technology (Halogen, Xenon, LED, Other Technologies); Vehicle (Passenger Car, Commercial Vehicle) Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Automotive Lighting Market to Reach $40 Billion by 2026 Amid the COVID-19 crisis, the global market for Automotive Lighting estimated at US$27.9 Billion in the year 2020, is projected to reach a revised size of US$40 Billion by 2026, growing at a CAGR of 6% over the analysis period. Halogen, one of the segments analyzed in the report, is projected to record a 6% CAGR and reach US$18.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Xenon segment is readjusted to a revised 5.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $8.1 Billion in 2021, While China is Forecast to Reach $8.3 Billion by 2026 The Automotive Lighting market in the U.S. is estimated at US$8.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.3 Billion by the year 2026 trailing a CAGR of 9.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
LED Segment to Reach US$10.3 Billion by the year 2026 In the global LED segment, USA, Canada, Japan, China and Europe will drive the 6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.3 Billion in the year 2020 will reach a projected size of US$7.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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About Global Industry Analysts, Inc. & StrategyR™ Global Industry Analysts, Inc., ( ) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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