The Business Research Company’s Automotive Light Emitting Diode (LED) Bulbs Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, September 1, 2021 /EINPresswire.com/ — According to the new market research report ‘Automotive Light Emitting Diode (LED) Bulbs Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the automotive LED bulbs market is expected to grow from $9.13 billion in 2020 to $9.69 billion in 2021 at a compound annual growth rate (CAGR) of 6.1%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier LED to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $14.54 billion in 2025 at a CAGR of 11%. Technological advancements in the automotive LED technology are expected to drive market growth.
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The automotive light emitting diode bulb manufacturing market consists of sales of LED automobile bulbs that are an upgrade over the standard filament bulbs used in sidelights, fog lights, brake lights, indicators, number plates and more. LED bulbs give off a bright, distinctive glow and last longer than standard bulbs, with up to 5000 hours of rated life.
Trends In The Global Automotive Light Emitting Diode (LED) Bulbs Market
With increasing awareness about global warming and carbon emissions, customers are increasingly using Organic LED, whose emitting panels are made of organic material. They can also be color tuned and are used to make light panels. For instance, car manufacturers BMW and Audi are using OLED taillights due to its flexibility, efficiency, and homogeneity.
Global Automotive Light Emitting Diode (LED) Bulbs Market Segments:
The global automotive light emitting diode bulbs market is further segmented based on vehicle type, adaptive lighting, sales channel and geography.
By Vehicle Type: Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
By Adaptive Lighting: Front Adaptive Lighting, Rear Adaptive Lighting, Ambient Adaptive Lighting
By Sales Channel: OEM, Aftermarket
By Geography: The global automotive LED bulbs market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Automotive Light Emitting Diode (LED) Bulbs Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides automotive light emitting diode (LED) bulbs market overviews, analyzes and forecasts market size and growth for the global automotive light emitting diode (LED) bulbs market, automotive light emitting diode (LED) bulbs market share, automotive light emitting diode (LED) bulbs market players, automotive light emitting diode (LED) bulbs market segments and geographies, automotive light emitting diode (LED) bulbs market’s leading competitors’ revenues, profiles and market shares. The automotive light emitting diode (LED) bulbs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Automotive Light Emitting Diode (LED) Bulbs Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Automotive Light Emitting Diode (LED) Bulbs Market Organizations Covered: SG Automotive, Hella, KOITO, Magneti Marelli, OSRAM, Valeo, Stanley Electric Co. Ltd., Varroc, Koninklijke Philips N.V., Magneti Marelli, Koito Manufacturing, Stanley Electric Co. Ltd., Mercedes-Benz, Koninklijke Phillips, Hyundai Group, Toyota Motor Corporations, Zizala Corporations, Lichtsysteme Gmbh, Automotive Lighting, Flextronics Automotive GmbH & Co. KG (formerly Sidler Automotive), Grupo Antolin Irausa, S.A., Ichikoh Industries, Ltd., SL Corporation.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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