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The automotive lighting market size is forecast to increase by USD 14.41 billion between 2022 and 2027, accelerating at a CAGR of 9.79%. In 2017, China held the largest market share, projecting an annual revenue of USD 8.29 billion.
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LED lighting's widespread adoption is driving growth in the market. LED headlamps were initially limited to luxury cars due to their high cost, while mid-range vehicles relied on halogen and Xenon lighting, each with its own drawbacks. However, LED headlamps have become a focal point for automotive manufacturers, with standardized modules and technological advancements like glare-free adaptive drive beams (ADB) enhancing their performance.
The declining cost of LED lamps and their energy efficiency are further boosting their use in both luxury and mid-range vehicles. As exterior lighting plays a substantial role in the market, this shift to LED technology offers promising growth opportunities for vendors in the industry.
The OEM segment showed a gradual increase in the market share of USD 19.35 billion in 2017 and continued to grow by 2021. The luxury car segment is the primary contributor to the interior market. This is driven by the increase in demand for luxury cars, especially in developing economies, along with technological innovations and vehicle safety features. The integration of these systems with infotainment systems and ambient lighting as brand differentiators is expected to intensify market growth and trends. The passenger cars segment of the global market will be primarily driven by the increasing adoption of sport utility vehicles (SUVs) among customers during the forecast period.
APAC is estimated to contribute 58% to the growth of the global market during the forecast period. The market in APAC will grow consistently during the forecast period due to the increase in demand for LED lighting systems and the rise in automotive production in the region. The demand for SUVs is increasing significantly in APAC. Furthermore, there is also an upsurge in the sales of luxury vehicles in APAC countries.
Moreover, the region has been witnessing an increase in demand for EVs. Incentives provided by governing bodies and the establishment of EV charging infrastructure are driving their demand in the region. The growing concern over the use of diesel-powered vehicles is estimated to result in stringent emission norms in the region, which is anticipated to drive the demand for EVs in APAC. This demand for EVs is anticipated to create revenue-generation opportunities for such market companies during the forecast period.
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The market is fragmented in nature. Some significant players include FLEX N GATE Corp, General Electric Co., Hyundai Motor Group, Koito Manufacturing Co. Ltd, Koninklijke Philips NV
The market research and growth report also includes detailed market trends and analysis of the competitive landscape of the market and information about 15 market companies, including:
Lumax Industries Ltd., Marelli Holdings Co Ltd, Namyung Lighting Co. Ltd, NXP Semiconductors NV, Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Stanley Electric Co. Ltd., Stellantis NV, Suprajit Engineering Ltd., Varroc Engineering Ltd, OSRAM GmbH, Robert Bosch GmbH, Valeo SA, Continental AG, and LG Corp.
The market is a dynamic sector within the global economy, undergoing significant transformations accelerated by factors like the coronavirus pandemic, evolving market trends, and the increasing demand for electric vehicles. Vehicle manufacturers are prioritizing advanced lighting technologies, with a shift from traditional lights to energy-efficient options such as LED lights. This transition is driven by the desire for enhanced durability life and strength, key attributes associated with light-emitting diodes (LEDs). Partnerships in the automotive industry, exemplified by the incorporation of smart LEDs, micro-LEDs, and laser-based lighting, are shaping the future of lighting technologies, offering features like 3D light patterns, area backlighting, and hidden-until-lit effects. This evolution extends to various aspects, including cabin lights, reading lamps, and ambient interior lighting systems, impacting both luxury-class vehicles like the Touareg SUV and low-cost vehicles catering to the disposable incomes of middle-class consumers.
In addition, the market dynamics also encompass safety considerations, as seen in the rise of adaptive lighting systems and sophisticated safety measures. Governments are influencing the industry through regulations focusing on visibility, on-road safety, and the reduction of traffic accidents. The growth trajectory of the Automotive market is intricately tied to the integration of innovative technologies, addressing concerns like energy consumption, production costs, and the adoption of materials such as Indium gallium nitride and Aluminum gallium indium phosphide. As the automotive sector embraces projector technology and lighting technology, the future promises an illuminated journey with enhanced safety and advanced lighting solutions.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017- 2027.
Automotive Lighting Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Market forecasting period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.79% |
Market growth 2023-2027 |
USD 14.41 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.49 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 58% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
FLEX N GATE Corp, General Electric Co., Hyundai Motor Group, Koito Manufacturing Co. Ltd, Koninklijke Philips NV, Lumax Industries Ltd., Marelli Holdings Co Ltd, Namyung Lighting Co. Ltd, NXP Semiconductors NV, Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Stanley Electric Co. Ltd., Stellantis NV, Suprajit Engineering Ltd., Varroc Engineering Ltd, OSRAM GmbH, Robert Bosch GmbH, Valeo SA, Continental AG, and LG Corp. |
Market dynamics |
Parent market growth analysis, Market growth and forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
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