12V automotive LED lights are expected to locate the biggest application in headlamps of cars, with sales poised to surpass US$ 1,000 Mn in incomes by 2022-end. Brake lights are anticipated to be the 2nd most financially rewarding application of automotive LED lights in the worldwide market. In addition, sales of vehicle LED lights for application in brake lights and sidelights are predicted to register an identical growth at 8.7% CAGR via 2022.
Although aftermarket will certainly continuously be the biggest sales network for vehicle LED lights, sales in OEM are expected to exhibit a relatively greater CAGR through 2022. Sales of automobile LED lights in aftermarket will certainly account for over three-fourth earnings share of the market throughout the forecast duration.
Accountancy for greater than one-third earnings share of the worldwide market, Asia-Pacific excluding Japan (APEJ) will certainly continuously be one of the most eye-catching market for automotive LED lights, in terms of profits. Europe is anticipated to be the second largest market for automotive LED lights, with sales broadening at a CAGR of 8.5% with 2022. Global sales of automobile LED lights are expected to surpass revenues worth US$ 6,000 Mn by 2022-end.