Automotive Lamp Housing Market Growth
Automotive lamp housing is part of the lighting assembly that holds the lighting devices in place. The increasing technical advances in lighting will be affecting automotive lamp housing product development as manufacturers are looking for efficient performance, security, and attractive design for the vehicles.
Apart from securing direct supply contracts with automotive original equipment manufacturers (OEMs), the market participants are also looking to developing a strong aftermarket sales owing to increasing penetration of the respective sales channel. As the bar for automotive interior and exterior lighting is enhancing at swift pace, the automotive lamp housing manufacturers will require to take market transition challenges through innovation using the technology and resources and convert them to opportunities by gaining competitive advantage.
The lightweight automotive components one of the key trend that will result in launch of new products in the automotive lamp market in the coming years to compliment the future design of vehicles and reduce the time & cost of design and ecological footprint. The innovations in the automotive lighting products have resulted in the partnerships with lighting system providers and automotive lamp housing manufacturers, which will have a major role in the enhancement of the housing solutions.
Automotive Lamp Housing Market: Drivers and Restraints
The demand for passenger vehicles sales across the globe are expected to expand at a faster pace over the over the forecast period that will significant influence the growth of the Automotive Lamp Housing market. Therefore, the growing demand for automobiles, and the expanding level of automotive production will boost the to the global Automotive Lamp Housing market.
Adding to this, the market will also be positively impacted by the rising purchasing capacity of potential buyers, especially in the developing world along with the government regulations are also likely to provide the global Automotive Lamp Housing Market required momentum in the coming years. The Asia Pacific region led by China, India and Japan, is one of the focus market for Automotive Lamp Housing manufacturers and is anticipated to lead the overall market growth in the near future.
Adding to this, the growing economies located in Africa are also expected to register notable market growth in the next decade owing to increase in the disposable incomes and improved road infrastructure that will increase the number of vehicle buyers in the region.
Automotive Lamp Housing Market: Segmentation
On the basis of type, the automotive lamp housing market can be segmented into:
On the basis of application, the automotive lamp housing market can be segmented into:
On the basis of bulb technology, the automotive lamp housing market can be segmented into:
- Light Emitting Diodes (LED)
On the basis of vehicle type, the automotive lamp housing market can be segmented into:
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
On the basis of sales channel, the automotive lamp housing market can be segmented into:
- Original Equipment Manufacturer (OEM)
Automotive Lamp Housing Market: Regional Outlook
The global automotive lamp housing market is segmented into seven key regions: North America, Latin America, Western Europe and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). In the coming years, Western Europe, Japan and North America vehicle manufacturers will be integrating technologically advanced lighting solutions such as introducing various signal lightings for emergency conditions that create positive impact over the automotive lamp housing market.
APEJ is expected to witness major growth largely driven by the expansion of the automotive industry in the developing countries such as China and India. Adding to this, the MEA, Latin America and Eastern Europe are also expected to register healthy CAGRs over the forecast period.
Automotive Lamp Housing Market: Market Participants
Examples of some of the market participants identified across the value chain of the global automotive lamp housing market include:
- Truck-Lite Co., LLC
- W. L. Gore & Associates, Inc.
- Bosch Auto Parts
- Advance Auto Parts
- Wagner Brake
- Oracle Lighting
- TYC Genera
- O'Reilly Auto Parts
- Grainger Industrial Supply
- UNO MINDA
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