The automotive lighting market in the Levant region is growing at a rapid rate owing to the key factors such as increase in the disposable income of individuals along with an extensive spending on the major technologies for driving safety and comfort. Moreover, COVID-19 has negatively impacted the production and demand of the automotive vehicles in 2020 by creating turmoil in the supply chain and market thus, adversely influencing the automotive lighting market in the region.
According to MarkNtel Advisors’ research report titled “Levant Automotive Lighting Market Analysis, 2020”, the Levant Automotive Lighting market is expected to grow at a considerable CAGR during 2021-26. Based on the application type, automotive lighting is used on the front and rear sides as advanced technologies such as adaptive front lights are used to prevent road accidents that adjust the beam of the vehicle according to the vehicle approaching on the road. Thus, front and rear automotive lights acquired the majority of market share in 2020.
“Levant Automotive Lighting Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Levant automotive lightning providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Integration and Adoption of New Technologies
The upsurge in the sales of SUV and premium vehicles and adoption of new technologies are fostering the growth of automotive lighting market. Prominent lighting technologies such as OLED, and laser lighting and Matrix LED, are pushing the growth of the market further. The demand for Matrix LED headlights is surging due to rising consumer preference as stated in the MarkNtel Advisors’ research report “Levant Automotive Lighting Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Levant Automotive Lighting market include OSRAM Jordan, Valeo, etc.
Key questions answered in the study: