India Automotive LED Lighting Market Trends 2023

BISinfotech’s latest research report on Automotive LED Lighting Market Trends in India 2023 provides an in-depth analysis of the Indian automotive LED lighting market. The Indian automotive LED lighting market witnessed significant growth in 2023, driven by various factors such as technological advancements, government initiatives, and increasing consumer demand for energy-efficient lighting solutions. LED lighting has gained popularity in the automotive sector due to its numerous advantages over traditional lighting technologies, including higher efficiency, longer lifespan, and improved aesthetics. BISinfotech research report on Automotive LED Lighting Market Trends in India 2023 provides an in-depth analysis of the India automotive LED lighting market, focusing on market size, growth drivers, challenges, and key trends in 2023.

Introduction:

Research Methodology:

BISinfotech research report on Automotive LED Lighting Market Trends in India 2023 is prepared using a combination of Primary and secondary research methodologies. Primary research involved interviews with industry experts, manufacturers, distributors, and consumers. Secondary research was conducted through extensive literature reviews, company reports, industry publications, and online databases.

Scope of the Report:

The report focuses on the automotive LED lighting market in India for the year 2023. It covers the market size, growth drivers, challenges, and key trends in the industry. The report primarily concentrates on LED lighting used in passenger cars, commercial vehicles, and two-wheelers.

Market Size and Growth Forecast:

The Indian automotive LED lighting market experienced robust growth in 2023, with a market size of approximately INR 5,000 crores. The market is expected to grow at a CAGR of 12% from 2023 to 2028, reaching a market size of around INR 8,500 crores by the end of the forecast period. This growth is driven by increasing vehicle production, rising consumer awareness, and favourable government regulations states BISinfotech research report on Automotive LED Lighting Market Trends in India 2023.

Market Segmentation:

The market can be segmented based on product type, vehicle type, and sales channel.
• By product type: Headlights, taillights, fog lights, interior lights, and others.
• By vehicle type: Passenger cars, commercial vehicles, and two-wheelers.
• By sales channel: Original Equipment Manufacturers (OEMs) and aftermarket.