Automotive Lighting Market

Automotive Lighting Market size reached USD 29.5 billion in 2022 and is estimated to reach USD 44 billion in 2030 and the market is estimated to grow at a CAGR of 5.1%.

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Market Dynamic

Major Automotive Lighting Market Drivers

World Health Organization states that more than 1.25 million people die globally due to road accidents, mostly due to bad weather conditions, low lighting roads, heavy fog, dust. The increasing number of accidents across the globe has fueled the demand for advanced lighting solutions like xenon, HID, and matrix LED systems. Automotive lighting is an essential component of the car, which plays a crucial role in providing better visibility to the driver. Adding on, continuous research and development in proving the lighting systems for better visibility and looks of the car, key players are pushing the limits for developing advanced vehicle lighting technology. For instance, in 2020, AUDI AG has launched a digital matrix LED headlight for the new Audi e-Tron Sportback, making driving safer and more secure. Furthermore, increasing hype and craze in smart LED and DRL systems has, forced the players to new laser light technology in the lighting system for sport and modern look. For instance, in 2017 Osram SMARTRIX collaborated with Varroc Lighting Systems to design a smartrix and laser light for new Range Rover and Range Rover Sport.

Restraint in the Automotive Lighting Market

However, high cost associated with the LED is the factor which is anticipated to hamper the overall growth of the market.

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Vehicle Type – Segment Analysis

Based on the vehicle type, passenger car is witnessed to grow at a higher CAGR in the market over the forecast period. The rising consumer preference for SUV Vehicles is the major factor that has boosted the passenger car’s growth in the market. Rising disposable income has led to the increase in a number of passenger Vehicles leading to the growth of the market.

Technology Type – Segment Analysis

Based on the technology type, LED is anticipated to grow at a higher CAGR in the market over the forecast period. This is due to the updated norms, which has pushed the growth of LED in the automotive lighting market. For instance, according to BS-VI norms, it is necessary to equip LED lights at the passenger Vehicles’ front end. Also, product launches by the key players has further contributed to the development of automotive lighting market. For instance, in 2018 OSRAM officially launched a new automotive LED, automotive series that has driven the market’s growth.

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Regional – Segment Analysis:

Based on regional coverage, Asia-Pacific is anticipated to grow at a higher CAGR in the market over the forecast period. During the period of 2016-2020 the Indian automotive industry witnessed a growth rate of 1.29% and sold US$ 24.62 billion cars in 2020 respectively. Furthermore, FDI in the automobile sector was US$ 24.62 billion in 2020, which reflects the huge potential of the automotive sector of India which has boosted the growth of automotive lighting in the region.

Top Market Players

Various notable players operating in the market, include, General Electric Company, HELLA GmbH & Co. KGaA, Hyundai MOBIS, Koito Manufacturing Co., Ltd., Magneti Marelli S.p.A., Namyung Lighting, OSRAM Group, Koninklijke Philips N.V., Samsung Electronics Co., Ltd., Seoul Semiconductor Co., Ltd., among others. 

Key Developments:

• • In 2019, HELLA GmbH & Co. KGaA officially announced the launch of new lighting solution called solid state lighting with high functionality and performance.

Segments Covered in the Report:

The global automotive lighting market has been segmented based on vehicle type, application type, technology type, and regions. Based on vehicle type, the market is segmented into passenger vehicles and commercial Vehicles. Based on application type, the market is segmented into front lighting, rear lighting, side lighting and interior lighting. Based on technology type, the market is segmented into LED, halogen and  xenon. 

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Key questions answered in this research report:

• • At what pace is global automotive lighting market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in automotive lighting market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global automotive lighting market?
  • Which vehicle type generated maximum revenues in 2021 and identify the most promising vehicle type during the forecast period?
  • What are the various application type areas of global automotive lighting market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Automotive Lighting Market by Vehicle Type

• • Passenger Vehicles
  • Commercial Vehicles

Global Automotive Lighting Market by Application Type

• • Front Lighting
  • Rear Lighting
  • Side Lighting
  • Interior Lighting

Global Automotive Lighting Market by Technology Type

• • LED
  • Halogen
  • Xenon

Global Automotive Lighting Market by Region

• • North America Automotive Lighting Market (Option 1: As a part of the free 25% customization)
    • By Vehicle Type
    • By Application Type
    • By Technology Type
    • US Market All-Up
    • Canada Market All-Up
  • Europe Automotive Lighting Market (Option 2: As a part of the free 25% customization)
    • By Vehicle Type
    • By Application Type
    • By Technology Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Automotive Lighting Market (Option 3: As a part of the free 25% customization)
    • By Vehicle Type
    • By Application Type
    • By Technology Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Automotive Lighting Market (Option 4: As a part of the free 25% customization)
    • By Vehicle Type
    • By Application Type
    • By Technology Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Automotive Lighting (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • General Electric Company
  • HELLA GmbH & Co. KGaA
  • Hyundai MOBIS
  • Koito Manufacturing Co., Ltd.
  • Magneti Marelli S.p.A.
  • Namyung Lighting
  • OSRAM Group
  • Koninklijke Philips N.V.
  • Samsung Electronics Co., Ltd.
  • Seoul Semiconductor Co., Ltd.