INDIA AUTOMOTIVE LIGHTING MARKET
- The Indian passenger car market was projected to grow to 5 Million units per annum, 4-5 years ago but that has not been the case and the total industry volume is stuck at 2.7-3.3M units for past few years. In the light of upcoming BS VI price hike, stagnant wage growth and declining consumer confidence, the market at best will grow to 3.8-4.2M units by 2025
- The double digit YOY annual growth in LEDs in passenger car and two-wheeler segment in 2016-2019 and 2019-2025 will be the #1 trend in the market
- The OE-supplier alignment in India automotive lighting market is dependent on four major factors 1. Pricing 2. Long term relationship 3. Location of production plant 4. Lighting design capability and scalability
- Many new platforms with rear LEDs in trucks are in development which will hit the road by 2021-22 and therefore there will be surge in market revenue by that time-frame
- India is the third biggest commercial vehicle market after China and US , approx 0.8M- 1M CVs are sold annually.In the high-volume LCV segment, which accounts for 65% (0.5-0.6M units) of annual CV sales, there is no scope for LED headlamp penetration, because of average low cost of vehicles sold and low perceived value to the fleet operators
Lighting is the second most expensive electrical component in a vehicle after HVAC, followed by ancillaries like motors, alternators, and regulators.
The Indian passenger car market, valued at ~$300-$330 Billion annually is characterized by lower transaction prices ($11,000) as compared to $22,000 in China and $34,000 in US. The reason behind lower transaction price is high volume of low-cost cars (<$7,000), measuring <3.6m in length, powered by a <1.2L gasoline motor and very basic comfort features.
The Indian passenger car market is extremely price sensitive and the consumers put strong emphasis on fuel economy and price of a vehicle above everything else in their buying decisions. Lighting technology of a vehicle does not even feature in the top 5 perquisites of an Indian car buyer and thus there has been very little shift in technology as compared to other markets.
India automotive lighting market is still dominated by Halogen, HIDs(xenon) presence was always limited to premium segment and is now being quickly replaced with LEDs. When talking about the headlamps design. The headlamps of most cars are now more swept back to the bonnet, increasing the glass area by 20-30% as compared to pre 2010 era cars.
LED has just started to gain ground, predominantly in signalling (Rear, indicators, high mount stop lamp and DRLs),as we have detailed in our Automotive LED lighting market in India report.
As of Oct 2019, LEDs have gained >40%+ penetration in tail lamps in India but in headlamps they account for less than 20% share.
Among the biggest trends in India automotive lighting market is the addition of DRLs(Day time running lamps) with halogen projector lights in frontal lighting. Tata Harrier, Hyundai Creta, Mahindra XUV 300 are among the few popular examples.
MARKET SIZE AND FORECAST
The market leader in India, Maruti Suzuki with >50% market share is predominantly using halogens for frontal and an even mix of LEDs and halogen for rear lighting.
TOP 5 OEMs IN INDIA AND THEIR PREDOMINANT LIGHTING TECHNOLOGY
|Sl no||OEM||Predominant technology used in Frontal lighting||Predominant technology used in Rear lighting|
The market size of India automotive lighting market is estimated at $XX Billion in 2019 growing at –% CAGR till 2025.
The India automotive lighting market is consolidated and a a few players comprise more than 75% market share. Lumax , Minda, Fiem Industries and India Japan Lighting(Lucas TVS) are among the market leaders in India automotive lighting market.
Most of the automotive lighting manufacturers in India are foreign manufacturers who have setup partially or wholly owned subsidiary to cater to local demand.
- India Japan Lighting Private Limited(Lucas TVS)
- UNO Minda Lighting
- Lumax Industries Ltd
- Varroc Engineering Limited
- Hella India Lighting Ltd.
- Fiem Industries Ltd
- NEOLITE ZKW Lightings Pvt. Ltd
- Magneti Marelli Motherson Auto System Private Limited
THIS REPORT WILL ANSWER THE FOLLOWING QUESTIONS
- Which vehicle segment will have highest growth rate in next 5 years and why? Details on the lighting technology
- Growth of LED lighting in India and associated consumer demand
- Impact of declining product refresh and mid-cycle update timeline on India automotive lighting market.
- Top 5 vehicle platforms and OEMs with the most premium lighting, Lighting technology in upcoming vehicle platforms
- Growth of ambient lighting in India
- Impact of electric mobility and BS VI on India automotive lighting market?
- Most important consumer trends in India automotive lighting market
- Top 5 automotive lighting manufacturing plants in India, present capacity, and planned expansion
- Demand for HID headlights in OE as well as aftermarket
- Online retailing of aftermarket performance(halogen/LED) bulbs in India automotive lighting market
- OE- Supplier alignment in India automotive lighting market and Market share of leading players in different segments
- Market share of LED lighting suppliers in passenger vehicles
- Average B-2-B price in all lighting segments
- What`s happening in the India automotive lighting supply chain?
- Recent technical innovation and new product launches by suppliers in India automotive lighting market
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|4||Insights from Industry stakeholders||11|
|5||Key criteria for headlight technology adoption by OEMs||12-13|
|6||Raw material supply chain and automotive lighting manufacturing in India||14-15|
|7||All about global online lighting and pain point of lighting distributors||16-17|
|8||New product development and innovation||18-19|
|9||Global automotive tire trends||20-21|
|10||Impact of growth in EV market on automotive lighting market in India||22-23|
|11||Market Size ,Dynamics and Forecast By lighting position||29-38|
|12||Market Size ,Dynamics and Forecast By lighting technology||29-38|
|13||Market Size ,Dynamics and Forecast By End-use (OE & Replacement)||39-48|
|14||Market Size ,Dynamics and Forecast By Vehicle segment||49-65|
|16||OEM-supplier relationship in automotive lighting market in India||79-82|
|18||Unmet needs and Market Opportunity for suppliers||80-95|
|20||5 Key predictions||98-99|