Acumen Research and Consulting, Recently Published Report On “Automotive OLED Market Size, Share, Trends, Scope, Growth Opportunity and Forecast 2019-2026”.
LOS ANGELES, Sept. 05, 2019 (GLOBE NEWSWIRE) -- The global automotive OLED market value 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.
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The global Automotive OLEDs market is majorly driven by increasing demand for the automotive vehicles across the globe. Continuously increasing population and changing standard of living, increasing spending of the people and increasing government support for the new startups have supported the growth of the Automotive OLEDs market. Economic fluctuations are simply fluctuations in the level of the national income of a country representing growth or contraction. Overall, Automotive OLEDs market is the dependent market on the automotive industries. The market trends get change as per the change in automotive industries. Currently, an economic condition of all major countries is nearly stable. However, in African countries due to economic fluctuations, the market is expecting a steady growth. Though in 2015 and 2016 the economies of the countries like America, U.K, India and others are disturbed which has disturbed the market growth. However, they have overcome this in 2017 and 2018. Currently the Automotive OLEDs market is expecting a very healthy growth in this region owing to the increasing demand for the automotive vehicles, and increasing per capita income of the people.
On the other hand, Stringent government regulations for manufacturing and raw material will limit the Automotive OLEDs market growth.
The automotive OLED market can be segmented based on location, structure, vehicle type, and geography.
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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 hold the major share in the global market.
Geographically, the Automotive OLEDs market is segmented into Asia Pacific, North America, Europe, and Latin America & Middle East Africa (LAMEA).
North America Automotive OLEDs market holds growing market share in the global Automotive OLEDs market owing to well developed automotive sectors, increasing demand for the commercial vehicles, and presence of leading players in the market. The manufacturing is considered as the largest industry in U.S. employing over 12 million workers over different states. In addition the overall manufacturing sector contributed around $2.18 trillion to U.S. economy in 2016. These all factors has led to the increasing in the production of the various Automotive OLEDs. Additionally, availability of skilled workforce and favorable government policies are major factors supporting the growth of the market. Europe is a growing market for the Automotive OLEDs market. The major market share is hold by the eastern European countries due to low labor cost and cheap raw material prices. A huge number of automotive industries are present in the Europe however, the minors’ requirement required for the vehicles are imported from Asian countries like China and India. China dominates the Asia Pacific Automotive OLEDs market owing to the presence of huge manufacturing companies. The major driving factor for the Automotive OLEDs market in China is increasing demand for the various types of Automotive OLEDs from the European countries. The factors favoring the market growth are cheap cost of raw materials, low labor cost, and presence of abundant raw material. Automobile industries in Japan is highly saturated which is the major reason the market is growing at a steady pace. South Korea is expected to have the similar scenario for the market as Japan. LAMEA holds the least share in the global 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.
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