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Lighting plays an extremely important role in automotive safety as it alerts the rider to the presence, size, and position of other vehicles, pedestrians, and obstructions. This is especially important in the case of two-wheelers as it can mean the difference between life and death. The future of the two-wheeler lighting market looks very bright indeed as manufacturers are experimenting with various new technologies that improve the light output while simultaneously reducing energy consumption. The two-wheeler lighting market is also poised to benefit from discerning customers that seek the perfect balance between form and functionality.

Lighting is an important functional aspect of any automobile as it enables the driver to drive the vehicle effectively. Lighting also plays an important part in the safety of the vehicle. The lighting components in the automobiles enable the driver to see in darkness and in adverse weather conditions such as intense fog or smog. Besides, the automotive lightings also provide guidelines and visibility for other vehicles and for the pedestrians, enabling them to see the size and direction of the vehicle and take precautionary measures to avoid collision. Besides these functional aspects, the lighting in automobiles also add an aesthetic value and add to the gloss of the vehicle and make it more attractive. Presently, LED lightings are being used for the purpose of automotive lighting and have replaced the older technology of halogen lighting. Increasing demands for energy efficiency in vehicles and a number of government regulations regarding vehicle safety have made automotive exterior LED lighting popular. The growing demand for automobiles around the world, increased customization demands from the consumers and ever growing production of automobiles are driving factors for this market. However, the high cost of LED lighting coupled with an astronomical research and development costs and an uncertain economic situation in European region are projected to restrict the market growth for automotive LED lighting during the assessment period.

Automotive manufacturers prefer using alloy wheels as compared to the metal wheels attributed to features such as heavy weight that could hamper performance of the vehicle. Grip in brakes are lower in the vehicles equipped with metal wheels as compared to the vehicles equipped with alloy wheels.

The IAM and OEM segment have a similar market as both have a revenue share of approx. 1/3rd in the automotive towbar market. This equates to a market value of nearly US$ 2.4 billion by the end of the study period, making them extremely lucrative opportunities in the automotive towbar market. Along with Europe, companies could look at targeting either North America or APEJ as these regions have the greatest potential in the automotive towbar market.

LED stands for light emitting diode technology and they are increasingly used as an alternative to halogen bulbs in the automotive interior LED lighting market. LED lights are used in almost all lighting applications indoors and outdoors today ranging from automotive interior lighting all the way to horticulture.

Automotive LED lights are expected to find the largest application in headlamps of vehicles, with sales poised to exceed US$ 1,000 Mn in revenues by 2022-end. Brake lights are expected to be the second most lucrative application of automotive LED lights in the global market. In addition, sales of automotive LED lights for application in brake lights and sidelights are projected to register a parallel expansion at 8.7% CAGR through 2022.

Compared to TFT-LCD technology, LCD display technology is anticipated to witness strong growth in the global automotive smart display market. Towards the end of 2017, LCD will account for nearly one-third of the global revenue share.

Growing need for cost efficient energy source continues to remain a major factors fuelling adoption of low voltage motors in various industries. Manufacturers are integrating intelligent technology in low voltage motors, which is projected to impact growth of the global low voltage market positively. A recently compiled report by Fact.MR, the global of low voltage motors market is projected to represent more than US$ 35,000 Mn by 2022-end.

Growing need for delivering commodities in a cost-effective manner in various industries is projected to fuel demand for railcars globally. In addition, surge in the number of construction projects is projected to impact growth of the global market positively. A recently compiled report by Fact.MR reveals that the global market of railcar leasing is projected to reflect a healthy CAGR of 5.6% over the forecast period, 2017-2022.

Blocking pollen, dust and particulate matter from vehicle exhaust from entering the car, automotive cabin air filter is being increasingly used in vehicles. Cabin air filter manufacturers are focusing on research and development of air filters using new material and advanced technology providing better filtration. Manufacturers are also developing charcoal lined cabin air filter. The air filter includes activated carbon that prevents odors and helps to reduce oxides of nitrogen and carbon monoxide from entering the car. Cabin air filters with small fibers facilitating better protection by trapping a large amount of ultrafine particles are also on a rise. Increasing number of replacement of automotive cabin air filter is driving the demand for new filters. Although replacement varies by manufacturers, general guidelines suggest replacing the air filter in every 12,000 to 15,000 miles. Development of customizable and polyurethane-based adhesive filters are also witnessing growth among manufacturers.