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The luxury car ambient lighting system market share is expected to increase by USD 876.36 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.73%. This luxury car ambient lighting system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The luxury car ambient lighting system market report also offers information on several market vendors, including APAGCoSyst, CML Technologies GMBH and Co. KG, DRAXLMAIER Group, Elmos Semiconductor AG, Embitel Technologies Pvt. Ltd., Flex Ltd., Grupo Antolin Irausa SA, HELLA GmbH and Co. KG, Innotec Corp., KOITO MANUFACTURING CO. Ltd., Koninklijke Philips NV, Marelli Holdings Co. Ltd., OSRAM Licht AG, Prettl Produktions Holding GmbH, Robert Bosch GmbH, SABIC, SCHOTT AG, Stanley Electric Co. Ltd., TE Connectivity Ltd., Valeo SA, and Yanfeng Automotive Interior Systems Co. Ltd. among others. Furthermore, this report extensively covers luxury car ambient lighting system market segmentation by application (executive luxury cars and super luxury cars) and geography (Europe, APAC, North America, South America, and Middle East and Africa).
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The increasing adoption of configurable ambient lighting systems is notably driving the luxury car ambient lighting system market growth, although factors such as price fluctuation of raw materials 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 luxury car ambient lighting system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Luxury Car Ambient Lighting System Market Driver
The increasing adoption of configurable ambient lighting systems is one of the key drivers supporting the luxury car ambient lighting system market growth. For instance, the Jaguar F-Type and Jaguar F-Pace offer a configurable ambient lighting system where a user can choose among colors such as phosphor blue, pale blue, white, coral, or red to suit different preferences. On activating the dynamic mode, the lighting switches to red on the door grab handles, center console, and instrument cluster. Such innovative features in luxury cars act as product differentiators. Apart from lights and circuits, ambient lighting software is required to personalize the color and intensity of light. This increases the cost of ambient lighting systems to enable higher profit margins for manufacturers. Thus, the increasing adoption of innovative ambient lighting systems will drive forward the global luxury car ambient lighting system market in terms of value during the forecast period.
Key Luxury Car Ambient Lighting System Market Trend
The development of integrated comfort features in luxury cars is one of the key trends contributing to the luxury car ambient lighting system market growth. Ambient lighting heightens aesthetics and increases safety by amplifying visibility to systems, instruments, and control panels for drivers during periods of low visibility. Integration of these features into a single system with other attributes such as climate control, seat heating/cooling, and massaging functions decreases power and space consumption in luxury vehicles. For instance, Mercedes-Benz S-Class has integrated ambient lighting systems that have 64-hue ambient lighting that changes according to cars' ambient temperature. This feature allows setting five intensity levels for four separate zones within the cabin. Thus, the development of integrated comfort features, which do not need separate control systems, benefits power consumption. This will have a positive impact on the global luxury car ambient lighting system market in the future.
Key Luxury Car Ambient Lighting System Market Challenge
Price fluctuation of raw materials is one of the factors hindering the luxury car ambient lighting system market growth. The cost of raw materials is subject to fluctuations, which makes maintaining the stock difficult for manufacturers. Consequently, the operational cost increases. Moreover, the rising market competition also increases competitive pricing and reduces profitability. Despite the price of LED lights decreasing, they are more expensive than their alternatives. As a result, vendors are continuously striving to improve the quality and efficiency of lighting systems while reducing costs. The large-scale adoption of LED across industries will help manufacturers achieve economies of scale, thereby pushing the price downward. However, this is expected to happen by end of the forecast period. So, the price fluctuation factor is expected to be a challenge for the manufacturers of luxury car ambient lighting systems during the forecast period.
This luxury car ambient lighting system 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 2022-2026.
Technavio categorizes the global luxury car ambient lighting system market as a part of the global auto parts and equipment 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 luxury car ambient lighting system market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the luxury car ambient lighting system market encompasses successful business strategies deployed by the key vendors. The luxury car ambient lighting system market is fragmented and the vendors are deploying growth strategies such as adopting M&A strategies and strategic partnerships to compete in the market.
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 luxury car ambient lighting system 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.
Our report provides extensive information on the value chain analysis for the luxury car ambient lighting system 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.
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41% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for luxury car ambient lighting system market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing demand for electric vehicles in countries such as China and Japan will facilitate the luxury car ambient lighting system 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.
COVID Impact and Recovery Analysis
The COVID-19 pandemic had a negative impact on the regional luxury car ambient lighting system market in APAC in 2020. However, in 2021, due to the availability of COVID-19 vaccines and the vaccination drives carried out by the governments of various countries in APAC, including China, Japan, South Korea, and Australia, production operations gradually returned to normal. The demand for the luxury car ambient lighting system will continue to increase in the region during the forecast period.
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The luxury car ambient lighting system market share growth by the executive luxury cars segment will be significant during the forecast period. Luxury cars priced at $40,000-$220,000 are considered executive luxury cars. For instance, DRAXLMAIER Group uses its patented process based on the LIN-RGB technology where the three basic colors (red, blue, and green) can be individually controlled to create an endless number of combinations for light scenarios. With such innovations, ambient lighting manufacturers can design and develop differentiated products to gain a competitive edge in the market. All these factors will drive the sales of ambient lighting systems for executive luxury cars during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the luxury car ambient lighting system market size and actionable market insights on post COVID-19 impact on each segment.
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Luxury Car Ambient Lighting System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.73% |
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Market growth 2022-2026 |
$ 876.36 million |
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Market structure |
Fragmented |
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YoY growth (%) |
7.67 |
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Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key consumer countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
APAGCoSyst, CML Technologies GMBH and Co. KG, DRAXLMAIER Group, Elmos Semiconductor AG, Embitel Technologies Pvt. Ltd., Flex Ltd., Grupo Antolin Irausa SA, HELLA GmbH and Co. KG, Innotec Corp., KOITO MANUFACTURING CO. Ltd., Koninklijke Philips NV, Marelli Holdings Co. Ltd., OSRAM Licht AG, Prettl Produktions Holding GmbH, Robert Bosch GmbH, SABIC, SCHOTT AG, Stanley Electric Co. Ltd., TE Connectivity Ltd., Valeo SA, and Yanfeng Automotive Interior Systems Co. Ltd. |
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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 the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 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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