Two Wheeler Segment to Continue its Dominance in India Automotive Lighting Market Through 2023
New vehicle sales, expanding
automobile fleet and government’s new rules and regulations regarding
automotive lighting systems to drive India automotive lighting market through
2023
According to TechSci Research report, “India Automotive Lighting Market By Vehicle Type, By Light
Type, By Demand Category, Competition Forecast and Opportunities, 2013-2023”, automotive lighting market in India is
projected to cross $ 6 billion by 2023. Rising automobile sales and expanding vehicle
fleet are the major driving factors for India automotive lighting market. Additionally, government’s new
rules and regulations towards automotive lighting systems with respect to AHO/DRL
headlights, is further augmenting demand for headlights (conventional &
DRL), which is anticipated to boost automotive lighting market across India over
the next five years.
Browse 68 market data Figures and Tables spread through 97 Pages and an in-depth TOC
on "India Automotive Lighting Market "
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In light type category, indicator light dominated India
automotive lighting market in 2017 and is likely to continue dominating during
forecast period as well. The automotive lighting market is witnessed to be
largely concentrated in the Western region of India owing to the presence of
major OEMs and high population in the region. On the basis of vehicle type,
India automotive lighting market is segmented into two-wheeler, passenger car,
three-wheeler, LCV, tractor, truck and bus. Two-wheeler segment dominated the
market in 2017 and is anticipated to lead during the forecast year as well, on account
of high demand for two-wheelers across the country, especially across tier 3
and 4 cities.
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Rising presence of various automotive lighting companies such as Lumax Industries, Fiem Industries Limited, OSRAM
GmbH., HELLA GmbH & Co. KGaA, Koninklijke Philips N.V., etc., across the
country is further anticipated to intensify market
competition in India automotive lighting market over the next five years. “Flexible export and import policies regarding
automotive components is aiding the growth of India automotive lighting market. Further, technical enhancements
in automotive lights are attracting the customers towards latest technology,
mainly in the passenger car segment. Moreover, rising vehicle accident rate
would further propel demand from the replacement segment in the coming years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India Automotive
Lighting Market By Vehicle Type, By Light Type, By Demand Category, Competition
Forecast and Opportunities, 2013-2023” has analyzed the potential
of automotive lighting market across India, and provides statistics and
information on market sizes, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyzes emerging trends along with essential drivers and key challenges
faced by India automotive lighting market.
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