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Global Automotive lighting Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR41032
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The automotive lighting market share is expected to increase by USD 12.98 bn from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 8.80%.

This automotive lighting market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive lighting market segmentations by application (passenger cars and commercial vehicles) and geography (APAC, Europe, North America, South America, and MEA). The automotive lighting market report also offers information on several market vendors, including General Electric Co., HELLA GmbH and Co. KGaA, Hyundai Mobis Co. Ltd., KOITO MANUFACTURING CO., Ltd., Koninklijke Philips NV, LG Electronics Inc., Magneti Marelli CK Holdings Co. Ltd., OSRAM GmbH, Samsung Electronics Co. Ltd., and Valeo SA among others.

What will the Automotive Lighting Market Size be During the Forecast Period?

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Automotive Lighting Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing demand for effective interior lighting is notably driving the automotive lighting market growth, although factors such as the high cost of led lamps may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive lighting industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Lighting Market Driver

The increasing demand for effective interior lighting is notably driving the automotive lighting market growth. Automotive interior lights increase the visual appeal of vehicles for customers. These lights accentuate the space and create a perception of increased cabin space in vehicles. Ambient lighting in an automotive cabin highlights the texture of the seat and mimics the feel of a premium vehicle. Vehicle manufacturers have been increasing the number of light sources in their vehicles to attract buyers. Automakers configure color patterns in their lighting, which can be changed based on haptic inputs from drivers. The increase in competition in the automotive industry has even led manufacturers of mid-segment cars and SUVs to use ambient lighting to differentiate their products. The increase in the use of interior lighting, even in mid-segment cars, is expected to drive the demand for automotive lighting during the forecast period.

Key Automotive Lighting Market Trend

The key trend driving the automotive lighting market growth is the development of autonomous vehicles. Companies such as Delphi, Continental, Bosch, Daimler, Scania, and Volvo are working toward expanding the autonomous driving concept. Such campaigns and promotions have widened the market acceptance of semi-autonomous features in passenger and commercial vehicles. Self-driving cars may become a reality toward the end of the forecast period, and in a decade, a sizeable number of self-driving vehicles are estimated to ply on the road. The above-mentioned prominent automotive vendors have reached advanced levels in their research on autonomous vehicles. In addition, the development and testing of a wide gamut of features in advanced driver-assistance systems (ADAS) and telematics/connected vehicle applications and services are estimated to increase. This should drive the growth prospects of lighting in autonomous vehicles.

Key Automotive Lighting Market Challenge

One of the major challenges impeding the market growth of the automotive lighting market is the high cost of the LED lamps. LED lamps last to about 25 times longer than halogen lamps and three times longer than compact fluorescent lamps (CFL). While these lights are more efficient and long-lasting, their upfront cost is high, which is hindering their purchase. Vendors in the market are continuously trying to reduce their costs while improving quality and efficiency. The high cost of LED lamps is hampering their adoption in mid-segment and commercial vehicles. One of the other key challenges faced in the adoption of LED lamps is heat generation. Such factors can impact the profitability of automotive OEMs as well as restrict the adoption of LED lamps in the passenger vehicle segment. However, this challenge should be short-lived because, with time, manufacturers will focus on large-scale adoption of these lamps, which will reduce their prices.

This automotive lighting market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global automotive lighting market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive lighting market during the forecast period.

Who are the Major Automotive Lighting Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • General Electric Co.
  • HELLA GmbH and Co. KGaA
  • Hyundai Mobis Co. Ltd.
  • KOITO MANUFACTURING CO., Ltd.
  • Koninklijke Philips NV
  • LG Electronics Inc.
  • Magneti Marelli CK Holdings Co. Ltd.
  • OSRAM GmbH
  • Samsung Electronics Co. Ltd.
  • Valeo SA

 

This statistical study of the automotive lighting market encompasses successful business strategies deployed by the key vendors. The automotive lighting market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • General Electric Co.- The company offers automotive lighting such as headlamps.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive lighting market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Lighting Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive lighting market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Automotive Lighting Market?

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58% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the automotive lighting market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The demand for SUVs is increasing significantly in APAC. Incentives provided by governing bodies and the establishment of EV charging infrastructure will facilitate the automotive lighting market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Automotive Lighting Market?

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The automotive lighting market share growth by the passengers cars segment will be significant during the forecast period. In passenger cars, both interior and exterior lightings are primarily used. Although Exterior lighting is the key factor driving the growth of the lighting systems, the increase in preference from buyers to use interior lighting has provided high growth opportunities for vendors in the segment. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive lighting market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Lighting Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.80%

Market growth 2021-2025

$ 12.98 billion

Market structure

Fragmented

YoY growth (%)

8.00

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 58%

Key consumer countries

China, US, Japan, Germany, and India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

General Electric Co., HELLA GmbH and Co. KGaA, Hyundai Mobis Co. Ltd., KOITO MANUFACTURING CO., Ltd., Koninklijke Philips NV, LG Electronics Inc., Magneti Marelli CK Holdings Co. Ltd., OSRAM GmbH, Samsung Electronics Co. Ltd., and Valeo SA

Market dynamics

Parent market analysis, 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 forecast period

Customization purview

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What are the Key Data Covered in this Automotive Lighting Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive automotive lighting market growth during the next five years
  • Precise estimation of the automotive lighting market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive lighting industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive lighting market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Passenger cars - Market size and forecast 2020-2025
    • Commercial vehicles - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption
      • Competitive scenario

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • General Electric Co.
      • HELLA GmbH and Co. KGaA
      • Hyundai Mobis Co. Ltd.
      • Koninklijke Philips NV
      • LG Electronics Inc.
      • Magneti Marelli CK Holdings Co. Ltd.
      • OSRAM GmbH
      • Samsung Electronics Co. Ltd.
      • Valeo SA

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The automotive lighting market growth will increase by $8.69 billion during 2020-2024.
      The automotive lighting market is expected to grow at a CAGR of 5.39% during 2020-2024.
      Technavio has segmented the automotive lighting market by application (Passenger cars and Commercial vehicles) ,deployment (Transportation, Machinery, Metal fabrication, Consumer goods, and Others) , and geographic (APAC, Europe, North America, and South America).
      General Electric Co., Hella GmbH & Co. KGaA, Hyundai Mobis Co. Ltd., Koito Manufacturing Co. Ltd., Koninklijke Philips NV, LG Electronics Inc., Magneti Marelli CK Holdings Co. Ltd., OSRAM Licht AG, Samsung Electronics Co. Ltd., Valeo SA are a few of the key vendors in the automotive lighting market.
      APAC will register the highest growth rate of 61.82% among the other regions. Therefore, the automotive lighting market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the automotive lighting market growth are:
      • Increasing demand for effective interior lighting
      • Development of autonomous vehicles
      The automotive lighting market vendors should focus on grabbing business opportunities from the passenger cars segment as it accounted for the largest market share in the base year.
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