HOME › Research Insight › The Lighting System Manufacturers have adopted ‘new product development’ as their key strategy to gain traction in the Automotive Lighting Market
The Lighting System Manufacturers have adopted ‘new product development’ as their key strategy to gain traction in the Automotive Lighting Market
The lighting system manufacturers have adopted ‘new product development’ as their key strategy to gain traction in the automotive lighting market. Upgrading technologies to provide better illumination, increased durability, lower power consumption, and minimal space consumption has been driving the lighting industry. For example, Valeo S.A (France) introduced Matrix Laser headlights based on LED technology, and Hella KGaA Hueck & Co. (Germany) developed the new L4060 LED low beam module.
Key market players in the automotive lighting industry are Koito Manufacturing Co., Ltd. (Japan), Valeo S.A, (France), Hella KGaA Hueck & Co., Magneti Marelli S.p.A (Italy), and Stanley Electric Co. Ltd. (Japan).
Valeo S.A.’s strong R&D and production capacities, and its presence in emerging Asian markets have made the company a formidable competitor in the global automotive lighting market. The company’s major strengths are its strong revenue base and advanced R&D capabilities. It has invested in various fields such as expansion, product development, and others. Valeo S.A. has employed the strategies of new product development and expansion to increase its market presence. The company upgraded its product line by introducing innovative technologies, launching the Bi-LED projector, which features full-LED headlights. For the purpose of expansion, the company tied up with other lighting companies such as OSRAM GmbH (Germany) and Ichikoh Industries Ltd. (Japan). These strategies have helped the company to increase its presence in the automotive lighting market
Hella KGaA Hueck & Co. has a strong presence in the European market. Hella KGaA Hueck & Co. has been adopting multiple strategies, such as expansions, joint ventures, and networking, to strengthen its position in the automotive lighting market. New product development is their key strategy. The company, in collaboration with Deutz-Fahr, has produced the latest generation of LED lights for tractors. It has developed a wide range of LED-based products for passenger cars and commercial vehicles to widen its product line and cater to the requirements of clients more efficiently. It was the first player in the automotive lighting market to launch a camera-based lighting system.
Lighting Market for Automotive by Technology (Halogen, LED, Xenon), Position (Front, Side, Rear, Interior), Adaptive Front (Front (Auto On-Off, Bending, Cornering, High Beam Assist, Headlamp Levelling), Rear, Interior), Two-Wheeler, Vehicle Type, & by Region - Forecast to 2021
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