The automotive cabin lighting market report covers the present scenario and the growth prospects of the global market for 2018-2022. To calculate the market size, the report considers the revenue generated from the automotive cabin lighting.
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Map lights and dome lights are mainly used for illumination purposes. However, vehicle makers are keen to introduce additional electronic features to create a sense of more cabin space, comfort, and visibility.
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The analysts forecast global automotive cabin lighting market to grow at a CAGR of 3.12% during the period 2018-2022. Automotive cabin lighting includes various light sources such as map lights, reading lights, door lights, glove box lights, visor lights, and dashboard lights that are used in a vehicle's cabin.
According to the automotive cabin lighting market report, one of the major drivers for this market is Low cost of LED lighting systems. LED lights are the most economical substitutes for halogen lights in vehicles.
They are not only energy efficient but also require much less maintenance than halogen and xenon lights. The substantial use of LEDs in various industries led to a decline in their prices by 2017, which increased their procurement by automakers in comparison to halogen or xenon lighting systems.
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Key players in the global automotive cabin lighting market: HELLA, OSRAM, Magneti Marelli, Bosch, Valeo, and KOITO MANUFACTURING. The report, Global Automotive Cabin Lighting Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts.
The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Further, the report states that one of the major factors hindering the growth of this market is High cost of xenon. Xenon-based lighting systems are increasingly being used by vehicle makers.
They emit white light that resembles the color of sunlight. Moreover, xenon uses significantly lesser energy than halogen lights for operations.
However, xenon is a rare earth element that costs roughly about $120 per 100g. Hence, its use in lighting systems significantly increases their production costs.