The India automotive lighting market witnessed significant growth in the recent past owing to increased automotive sales and economic growth. In addition, the market is driven by increasing population and concerns about vehicle safety triggered by government regulations.
Lighting, a vital component in automotive vehicles, plays an important role in automotive safety. An automotive vehicle consists of variety of lights to increase the visibility in darkness and bad weather conditions, and increase the conspicuity of the vehicle. The lighting system comprises lighting and signaling devices, which are placed at different locations in the vehicle such as the front, rear, side, and interiors.
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Lighting provides illumination for the driver and assists other vehicle drivers and pedestrians on the road to detect the vehicle’s position, direction of movement, and size. It also adds aesthetic looks to both interior and exterior parts of the vehicle.
In the recent past, India has emerged as one of the fastest growing market for passenger vehicles, and it is expected that this growth momentum would continue owing to economy growth prospects. Though the urban area dominated the sales of two wheelers, the rural area is expected to show increasing trend due to replacement demand and rising per capita income of the populace.
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Traditionally, halogen and xenon lights were popular among the population owing to their low cost and easy availability. However, the emergence of LED lights witnessed an increased demand due to their long life span and brightness. Nowadays, LED lights show an increase in demand to be utilized for interior lighting of the vehicle. However, high prices as compared to halogen and xenon lights restrain the market growth. Growing awareness regarding vehicle lights and decreasing prices of LED lights with technological advancement are expected to create lucrative market opportunities. The demand for LEDs is on a rise among premium car holders to add aesthetic looks to the vehicle.
The India automotive lighting market is segmented based on lighting technology, application, sales channel type, and vehicle type.
BY VEHICLE TYPE
BY PRODUCT SALE
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