The Brazil automotive adapting lighting system market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising incidences of traffic fatality, increasing deaths of pedestrians, and growing investments in the automotive lightning. Government rules and regulations regarding the adapting lightning system is expected to boost the market.
Lightning is the important part of automotive vehicles that provides illumination for the driver. Lightning system helps to detect the size, direction of movement, and position of the vehicle for pedestrians as well as drivers. It also helps to increase the conspicuity of vehicles and gives aesthetic look to the exterior & interior parts of the vehicle. The different types of lightning equipments are placed on the various parts of the vehicles.
Adapting lightning system provides the optimized vision to the driver mainly at the night time. Covid-19 has impacted the growth and supply chain of the automotive sector. It has disrupted the sales of the vehicles as well as manufacturing facilities of the automotive due to which the production of lighting system for automotive has been impacted. The demand for various types of vehicles decreased in the covid-19.
Market Trends, Drivers, Restraints, and Opportunities
- Growing lightning regulations for better safety & visibility is expected to boost the market growth during the forecast period.
- Rapid growth of the automotive industry is major factors spurring the market expansion in the coming years.
- High price of LED lights is estimated to hamper the market growth during the forecast period.
- Reduced penetration of advanced lightning in the commercial vehicle acts as major factor that can impede the market expansion.
- R&D investment and technological advancement in adapting lightning system is anticipated to offer immense opportunities for the market players.
Scope of Brazil Automotive Adapting Lighting System Market Report
The report on the Brazil automotive adapting lighting system market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Brazil Automotive Adapting Lighting System Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Vehicle Types (Premium Vehicles, Sports Cars, and Mid-segment Passenger Vehicles), Types (Rear and Front), Sales Channel Types (Aftermarket and Original Equipment Manufacturer)
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Country
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Brazil
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Valeo Group; Stanley Electric Co. Ltd.; HELLA KGaAHuesk& Co.; Koninklijke Philips N.V.; OsRam Licht AG; DENSO Corp.; Hyundai Mobis; Koito Manufacturing Co. Ltd.; Zizala Lichtsysteme GmbH; and ROBERT BOSCH GmbH
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Brazil Automotive Adapting Lighting System Market Segment Insights
Mid-segment passenger vehicles segment is projected to account for a large market share
Based on vehicle types, the Brazil automotive adapting lighting system market is divided into premium vehicles, sports cars, and mid-segment passenger vehicles. The mid-segment passenger vehicles segment is expected to constitute a key share of the market during the forecast period owing to increasing sales of passenger vehicles and consumer willing to pay more for cars. The penetrations of mid-segment passenger vehicles are high compared to other vehicles such as trucks and buses. However, the premium vehicles segment is anticipated to expand at a rapid pace during the forecast period due to growing disposable income of the consumers and changing lifestyle of people.
Front segment is projected to hold a key market share
On the basis of types, the market is segmented into rear and front. The front segment is expected to represent a key share of the market in the coming years due to rising demand and growing opportunities to create a unique feel, look, and style. It provides scalability and flexibility in various applications. On the other hand, the rear segment is anticipated to expand at a rapid pace during the forecast period owing to its requirement for producing red light and also its is wired in a way that it get lit whenever the front position lamps are lit.
Aftermarket segment is projected to constitute a major market share
In terms of sales channel types, the Brazil automotive adapting lighting system market is segregated into aftermarket and original equipment manufacturer. The aftermarket segment is expected to account for a key share of the market during the forecast period owing to its cost effectiveness. However, the original equipment manufacturer segment is anticipated to expand at a rapid pace during the forecast period due to its growth in different industries that want to have progress in the adapting lighting system market.
Segments
The Brazil automotive adapting lighting system market has been segmented on the basis of
Vehicle Types
- Premium Vehicles
- Sports Cars
- Mid-segment Passenger Vehicles
Types
Sales Channel Types
- Aftermarket
- Original Equipment Manufacturer
Country
Key Players
- Valeo Group
- Stanley Electric Co. Ltd.
- HELLA KGaAHuesk& Co.
- Koninklijke Philips N.V.
- OsRam Licht AG
- DENSO Corp.
- Hyundai Mobis
- Koito Manufacturing Co. Ltd.
- Zizala Lichtsysteme GmbH
- ROBERT BOSCH GmbH
Competitive Landscape
Key players competing in the Brazil automotive adapting lighting system market include Valeo Group; Stanley Electric Co. Ltd.; HELLA KGaAHuesk& Co.; Koninklijke Philips N.V.; OsRam Licht AG; DENSO Corp.; Hyundai Mobis; Koito Manufacturing Co. Ltd.; Zizala Lichtsysteme GmbH; and ROBERT BOSCH GmbH. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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