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Vehicle Collisions and New Technologies Support Growth in North American Lighting Aftermarket - New analysis from Frost & Sullivan, North American Lighting Aftermarket, reveals that manufacturers of lighting components earned revenues of $964.1 million in 2004, and revenues are estimated to reach $1.3 billion in 2011.
Vehicle Collisions and New Technologies Support Growth in North American Lighting Aftermarket

 

PRZOOM - /newswire/ - Palo Alto, CA, United States, 2005/11/14 - New analysis from Frost & Sullivan, North American Lighting Aftermarket, reveals that manufacturers of lighting components earned revenues of $964.1 million in 2004, and revenues are estimated to reach $1.3 billion in 2011..

   
 
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The rising number of vehicle accidents, new product introductions, and increase in the total vehicle population will drive growth for manufacturers of replacement lighting in the coming years.

Collision replacement will account for the majority of revenues in this market. However, manufacturers are also making gains selling sporty Eurolights and brighter bulbs to improve the safety of nighttime driving. This supports revenue growth in a mature industry where overall replacement rates are declining.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants an overview of the latest analysis of the North American Lighting Aftermarket, then send an e-mail to Tolu Babalola - Corporate Communications at tolu.babalola[.]frost.com with the following information: full name, company name, title, telephone number, e-mail address, city, state, and country. The brochure will be e-mailed to you upon receipt of this information.

“Automotive lighting systems seem to be evolving away from incandescent and halogen bulbs to LEDs and HID lighting. It is happening slowly, but some day there will be no more light bulbs in cars and trucks,” said Frost & Sullivan Research Analyst Stephen Spivey. “ This change will present opportunities for aftermarket manufacturers to introduce new lighting products that capture the imaginations of vehicle owners and set themselves apart from their competitors.”

Automakers are deploying LEDs and HID lighting in greater quantities as standard equipment on new vehicle models. Common for several years in the center high-mounted stop light, LEDs are now found increasingly in tail lights, turn signals, and in interior applications like dome lights and dashboard lights.

Once reserved for high-end luxury cars, HID headlights are increasingly common on new car and truck models.

The shift to LEDs and other lighting technologies will present strategic challenges for manufacturers of standard replacement parts. LEDs and HID bulbs have a much longer service life than traditional lighting sources, which could eliminate the need to replace lighting components for many vehicle owners.

Manufacturers will need to make key investments in technology and new product development over the medium to long term in order to remain competitive.

“Upgrading production capacity to compete in LEDs will be vital to future aftermarket sales as the number of LEDs carried by new vehicles continues to rise and the number of standard bulbs carries by new vehicles continues to decline,” explained Spivey. “In addition, suppliers must understand how to use the LED platform to develop innovative products that cause people to want to replace their factory-installed LEDs with an aftermarket product. Without both of these capabilities, manufacturers of incandescent and halogen lighting will see their markets get smaller over time.”

The largest manufacturers of aftermarket lighting have already taken the lead on the shift to LEDs. Osram Sylvania Inc. produces its own LEDs, while Philips Automotive Lighting launched a joint venture to manufacture LEDs in partnership with another company.

Partnering with companies that have the capital and knowledge to produce LEDs, or pooling resources with companies in other industries that are also deploying them, may offer the best opportunity for smaller lighting manufacturers to compete in the automotive aftermarket.

The North American Lighting Aftermarket, a part of the Automotive and Transportation subscription service includes detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. The study is segmented into forward exterior lighting, rear exterior lighting, bulbs, interior lighting, auxiliary lighting and specialty lighting. Analyst interviews are available to the press.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.

North American Lighting Aftermarket
F332

Contact:

Magdalena Oberland
Corporate Communications – Europe
P: +44 (0) 20 7915 7876
F: +44 (0) 20 7730 3343
E: magdalena.oberland[.]frost.com

Donna Jeremiah
Corporate Communications – Asia Pacific
P: +603 6304 5832
F: +603 6201 7402
E: djeremiah[.]frost.com

 
 
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Vehicle Collisions and New Technologies Support Growth in North American Lighting Aftermarket

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