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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. The report offers extensive research analysis on the Automotive lighting Market, with a categorization based on End-user, including OEM and Aftermarket. Additionally, the report provides geographical segmentation, covering APAC, Europe, North America, South America, and Middle East and Africa. Market size, historical data (2017-2021), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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LED lighting's widespread adoption is driving growth in the automotive lighting 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 automotive lighting 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 automotive lighting 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 lighting systems with infotainment systems and ambient lighting as brand differentiators is expected to intensify market growth. The passenger cars segment of the global automotive lighting 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 automotive lighting 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 automotive lighting vendors during the forecast period.
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The Automotive Lighting 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 research report also includes detailed analyses 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 automotive lighting 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.
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Automotive Lighting Market Scope |
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Report Coverage |
Details |
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Page number |
173 |
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Base year |
2022 |
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Historic period |
2017 - 2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.79% |
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Market growth 2023-2027 |
USD 14.41 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
7.49 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 58% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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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 |
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Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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