China Becomes Global Biggest Consumer of Automotive Lighting, States ASKCI Consulting in Its In-Demand Study Published at MarketPublishers.com16 Mar 2017 • by Natalie Aster
LONDON – The year 2015 was a breaking point for the Chinese automobile market. The robust growth of the country’s automobile market stopped in 2015 after 15 years. In the same year, approximately 25 million autos were sold in China, and the country’s automobile industry grew by 4.7%.
Today, LED is extensively used in automobile lighting. Prominent brands like GM, Volkswagen, Benz, BMW and Ford have also introduced cars with LED lighting. Though China is the top consumer of autos, the country’s automotive market is occupied by 2 leading players, Philips and Osram.
As of 2015, the world’s automotive lighting industry grew by 5.4% and the market value was nearly USD 22 trillion. In the overall operating revenue, the revenue of daytime running lights and headlights accounted for 28% and 43%, respectively.
China’s automotive lighting industry has experienced remarkable growth during the recent past, and China emerges as the global biggest consumer of automotive lighting. As of 2015, the country’s automotive lighting market reached RMB 30 trillion.
In-demand topical report “Market Research of Automotive Lighting Industry in Globe and China 2016-2021 Proposal” elaborated by ASKCI Consulting gives an in-depth guide to the Chinese automotive lighting market as well as contains an all-round overview of the global market. The research study presents a detailed analysis of the market dynamics, examines the major market growth driving and limiting factors, identifies the key challenges and opportunities, discusses the hottest aspects and the most important aspects. The report covers competitive environment, touches upon the top trends, reviews the historical and current scenario and also provides a future outlook for the global and Chinese markets for automotive lighting through 2021.
For other insightful research reports prepared by this publisher follow to the online ASKCI Consulting catalogue at MarketPublishers.com.