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SOURCE Research and Markets
DUBLIN, Dec. 27, 2017 /PRNewswire/ --
The "Ambiance Lighting Market for Automotive - Global Forecast to 2022" report has been added to Research and Markets' offering.
The ambiance lighting market for automotive is projected to grow at a CAGR of 14.41% from 2017 to 2022. It is projected to reach USD 5.30 Billion by 2022 from USD 2.71 Billion in 2017. The market growth can be attributed to the increase in vehicle production and sale of premium and luxury cars. Additionally, the increasing penetration of ambiance lighting systems in low and mid-segment cars would drive the demand for ambiance lighting market for automotive.
The ambiance lighting market for automotive is segmented by application into the dashboard, doors, footwell, center console, and others. The footwell ambiance lighting is estimated to be the largest market during the forecast period. The footwell is one of the most common applications of ambiance lighting as it improves the visibility of foot area.
The study also segments the ambiance lighting market by electric vehicle type (BEV, HEV, and PHEV) and aftermarket application (dashboard, doors, footwell, center console, and others). PHEV is estimated to be the fastest growing market for ambiance lighting, by electric vehicle type. The study also covers the ambiance lighting aftermarket.
The Asia Oceania region has the highest demand for ambiance lighting systems. While the installation rate is currently moderate, the demand for ambiance lighting systems is expected to rise with the increase in vehicle production. As a result, the Asia Oceania region is estimated to be the largest market for ambiance lighting systems by 2022. The Asia Oceania market is primarily driven by the huge vehicle production in China and increasing demand for premium vehicles, which in turn results in high demand for ambiance lighting systems. Also, the high disposable income of the people is driving the growth of the ambiance lighting market for automotive in the region. North America is estimated to be the second largest market for ambiance lighting during the forecast period. North America is known for its premium cars, which are already equipped with ambiance lighting.
Factors restraining the growth of the market are fluctuating raw material prices and high R&D cost. The innovations require technological advancements, which incur a huge cost and hinder the R&D development.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Ambiance Lighting Market, By Passenger Car Segment & Region
7 Ambiance Lighting Market, By Application, Passenger Car Segment, & Region
8 Ambiance Lighting Market for Electric Vehicle, By Application & Region
9 Ambiance Lighting Aftermarket, By Region & Country
10 Competitive Landscape
11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/rhq7cs/ambiance_lighting
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