The global automotive OLED market size is expected to reach over USD 5.1 billion by 2026 and is expected to grow at CAGR 16.5% during the forecast period, 2019-2026.
Automotive OLED (Organic Light-Emitting Diode) is the film of organic compound that emits light in response to an electric current. It is an advanced type of the automotive lighting. The global Automotive OLED market is growing at significantly pace across the globe due to several growth factors. The market will be heading towards growth expansion phase over the next few years extensive growth in the automotive industry. Some of the factors contributing in the overall market growth include increasing automotive production and resulting demand for sales and strict regulation directed by the government pertinent to the use of the electronic control unit. Moreover, several developments pertinent to the manufacturing of lower electronic control unit cost model are playing a key role while driving the overall market growth. Since technology advancement is changing the way vehicles are being produced, consumers are preferring vehicles with advanced feature. Consequently, increasing demand for advanced version of vehicle due to incorporation of new technology in the overall vehicle system is also surging demand for electronic control unit.
High cost of the products may hamper the overall market growth. The global Automotive OLED market is expected to have healthy growth opportunities during the forecast period.
The market research study on “Automotive OLED Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Automotive OLED Market. The report also analyzes the key players operating in Automotive OLED Market and identifies the key strategies deployed by them along with the market share of leading players.
The global Automotive OLED Market is segmented as below:
Automotive OLED Market by Location
Automotive OLED Market By Structure
Automotive OLED Market By Vehicle Type
Automotive OLED Market by Geography
The automotive OLED market can be segmented based on location, structure, vehicle type, and geography.
In terms of location, the automotive OLED market can be bifurcated into interior OLEDs and exterior OLEDs. Interior OLEDs holds the leading position in the global market. on the basis of structure, the automotive OLED market can be divided into transparent OLEDs, graded hetero-junction OLEDs, stacked OLEDs, and inverted OLEDs. Transparent OLEDs is expecting a healthy growth in near future. Based on vehicle type, the automotive OLED market can be classified into passenger vehicles (PV) and commercial vehicles (CV). Passenger vehicles holds the major the major share in the global market.
Geographically, Automotive OLED Market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA). Asia Pacific is the largest regional market among other for Automotive OLED market. The region is the largest manufacturer as well as consumers in automotive industry with production of more the 95 million unit vehicles in 2018 and sales of more than 80 million in the similar year. Considering this the demand for Automotive OLED is also growing at similar pace in the Asia Pacific region. Strict regulation related to the use of electronic control unit in the overall vehicle system in this region is also playing key role in the overall region growth. China and India are some of the major country level market in this region which have collectively acquired more than 50% shares and are expected to be the largest marker among others over he forecast period. Europe holds the second leading position followed by North America. North America market is expected to have a significant growth in the market owing to the presence of huge number of automotive industry. Growing adoption of automotive vehicles and increased investment in the countries such as the U.S. and Mexico are driving the market growth in North America. Growing interest in digital technology and innovative mobility has increased the adoption of automotive, thereby driving the global automotive filter market. For instance, according to Oak Ridge National Laboratory (ORNL) transportation analysis in 2016, about 322,000 medium/heavy trucks were produced in the United States, which is 63% of North America’s total production. Additionally, Mexico accounted for 35% of total North America production. LAMEA holds the least share in the global Automotive OLED market.
Some of the key players analyzed and profiles in this market LG Display Co., Ltd., HELLA GmbH & Co. KGaA, OSRAM, Koito Manufacturing Co. Ltd., and others.