INTRODUCTION

The automotive industry is going through a historical technological change, and e-mobility is the most important megatrend.

Electric Vehicles (EVs)-BEV (Battery Electric Vehicle) + PHEV (Plug-in-hybrid vehicles) are being touted as futuristic, environment friendly vehicles and one of the key design elements that helps defining that is lighting.

MARKET SEGMENTATION

 

MARKET DYNAMICS

One of the biggest differences in the EV and ICE powered vehicles is that all trims of an EV have LED headlights as standard whereas a similar segment ICE powered vehicle have halogen/HID on lower/mid trims and LED lights are reserved for top of the line variant only.

The reason behind higher fitment of LEDs in EVs is simple, efficiency and durability. A halogen headlight consumes 55W to produce 350-400 Lumens of light, whereas an LED-headlight system uses 16-18W to produce comparable or even higher output. Not to mention, the second most important lighting application- rear and high mount stop lamps, which are by default LEDs

The LED penetration in global automotive lighting has grown to ~11% as of July 2019 as compared to <1% in 2014. EVs have been a major contributor to that and LED penetration in EV lighting is >78%.

 

MARKET SIZE AND FORECAST

The EV lighting market will grow in close co-relation with automotive LED lighting market.

At present, the EV lighting is a tiny speck in the ~$28-$30 Billion global Automotive lighting market. But going forward, as EV sales increase from ~2 Million units (~2.3% of passenger car sales) in 2018, their contribution will get even bigger by value ($).

The total number of EVs on sale, globally as of July 2019, is 270. China has about 240 alone, followed by US with 45 models and Europe with 30. About 45 models sold are common in at least two of these top 3 markets.

By 2025, the global number of EV models on sale could triple or even go past 1,000.

 

The EV Lighting Market is estimated at $XXM in 2019, growing to $YYM in 2025.

 

ABOUT MASS SEGMENT EVS

Among the best-selling EVs in China, in the A00 compact segment, which accounted for 35% of EV sales in 2018(Ex- Chery EQ, JAC iEV6, BYD E6), the low cost BEVs have halogen projectors and not LED due to cost constraints.

But, the EV startups like BYTON, NIO and WEY are offering all -LED lights on their SUVs.

In the mass-segment PHEVs, Mitsubishi Outlander PHEV, one of the best-sellers PHEV models globally has all LED lighting only on the top most variant.

In the electric two-wheeler segment, where majority of the two wheelers are powered by a <3kWh battery, low energy consumption is an important aspect where LEDs can offer tremendous value

ABOUT PREMIUM SEGMENT EVS

Tesla had 19% global market share of battery electric vehicles sold in 2018 and 19% share of all EVs(BEV+PHEV) sold, globally in H1-2019. It has been an early adopter of LED lighting. All Tesla vehicles have LED lighting (Frontal, rear, interior, signaling) as standard since first launch.

Among the European OEMs, BMW which had 7% global EV market share in 2018 is offering all LED lighting on almost all EVs. Majority are PHEVs though

 

 

COMPEITIVE LANDSCAPE

Frontal lighting is the biggest contributor to an automotive lighting supplier`s revenue. It is also the most specialized component which requires deep technical knowledge and rigorous testing. Therefore, many lighting companies in China are still dependent on foreign companies for technology and so far, have only been able to establish themselves only in the domestic and Asian after-market.

Koito is among the leading players in LED and EV lighting market. Owing to its close ties with Toyota(World`s #1 seller of electrified vehicles), it had a head start in 2007 when it launched LED headlights on a Lexus vehicle. And, now it is reaping benefits from that expertise.

Eyeing the growing EV market in China, Hella (among the market leaders in automotive lighting) has already expanded its production capacity in 2017.

India based Varroc Lighting Systems is a supplier to Tesla for Model S and X, supplying complete lighting system.

Coming down the value chain, Taiwan and South Korea still remain the hub for semi-conductor /chip, PCB manufacturing.

 

 

COMPANY PROFILES
  1. Valeo Lighting Systems
  2. Hella KGaA Hueck & Co.
  3. Koito Manufacturing Co, Ltd
  4. Stanley Electric Co, Ltd
  5. ZKW Group
  6. Marelli (Magnetti Marelli now acquired by Calsonic Kansei)
  7. Varroc Lighting Systems

 

 

 

THIS REPORT WILL ANSWER THE FOLLWING QUESTIONS
  1. Which EV lighting market segment will grow at fastest rate and why?
  2. EV lighting market split by technology and OEM
  3. Which vehicle type will be the most lucrative segment for EV lighting suppliers?
  4. Potential in electric commercial vehicle lighting market
  5. Future of modular automotive lighting production in response to declining product lifecycle
  6. Top 5 vehicle platforms and OEMs with the most premium lighting, Lighting technology in upcoming vehicle platforms
  7. Most important consumer trends in EV lighting market
  8. Market share of leading suppliers
  9. OE-supplier alignment
  10. Average B-2-B price in all lighting segments
  11. Strategies of major suppliers to increase their presence, profitability, and market share in EV lighting market
  12. What`s happening in the EV lighting market supply chain?
1Market Segmentation3
2Executive Summary5-6
3Introduction7-15
4Global Automotive lighting technology trends16-18
5About EV market and lighting used19-20
6Cost breakdown of EV lighting by weight and components21-22
7Global EV headlight sourcing trends23-24
8Upcoming Electric vehicle platforms and their lighting25-27
9Market Size, Dynamics and Forecast, By Lighting technology28-35
10Market Size, Dynamics and Forecast, By Lighting position36-52
11Market Size, Dynamics and Forecast, By Vehicle type53-61
12Market Size, Dynamics and Forecast, By Geography62-78
13Value chain of EV lighting79-80
14Competitive Landscape81-83
15Company Profiles84-95
16Details on LED lighting chip suppliers96-97
17Unmet needs and Market Opportunity for suppliers98
18Conclusion99
195 Key Predictions for next 5 years100-101
20Appendix102-104
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