The latest research study “Automotive Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive lighting market size reached a value of US$ 28.41 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 42.87 Billion by 2027 exhibiting a CAGR of 6.70% during 2022-2027.
Automotive lighting refers to all the light-emitting devices installed in automobiles that illuminate the vehicle path, allow clear road visibility, and ensure safety. Some commonly used automotive lighting includes headlights, driving lamps, direction-signal, parking, blinker, backup, taillights, interior, fog, stop, daytime running lights (DRL), and hazard lights. They also help recognize obstacles, add aesthetics to the parts of the vehicle, and provide a safe driving experience. Nowadays, automotive lighting is extensively used in vehicles such as passenger cars and electric and commercial automobiles.
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Important Attribute and highlights of the Report:
- Detailed analysis of the market share
- Market Segmentation
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape
- Strategies of major players and product offerings
Automotive Lighting Market Trends and Drivers:
The market is primarily driven by the expanding automotive industry across the globe. This can be attributed to the increasing disposable income and rising awareness among individuals regarding road safety measures.
In addition, the increasing utilization of new lighting technologies, such as smart light emitting diode (LEDs), laser-based lighting, micro-LEDs, functional surfaces, guiding materials for 3D light patterns, and area backlighting with hidden-until-lit effects is providing a thrust to the market growth. Moreover, the escalating demand for electric vehicles (EVs) due to the increasing air pollution worldwide and the rising environmental consciousness among individuals is accelerating the product adoption rate.
Besides this, governments of numerous countries are undertaking initiatives to encourage the use of lighting systems in vehicles. Furthermore, leading players are investing in research and development (R&D) activities to enhance safety technologies, creating a positive market outlook.
Global Automotive Lighting Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Top Automotive Lighting Companies in World :
Continental AG, General Electric Company, HELLA GmbH & Co. KGaA, Hyundai Mobis, Koito Manufacturing Co. Ltd., Koninklijke Philips N.V., LG Electronics Inc., Lumax Industries Limited, Magneti Marelli S.p.A., Osram Licht AG (ams AG), Robert Bosch GmbH, Samsung Electronics Co. Ltd., Stanley Electric Co. Ltd. and Valeo.
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The report has segmented the market on the basis of region, technology, vehicle type, sales channel and application.
Breakup by Technology:
Breakup by Vehicle Type:
· Passenger Vehicle
· Commercial Vehicle
Breakup by Sales Channel:
· Original Equipment Manufacturers
Breakup by Application:
· Front Lighting/Headlamps
· Rear Lighting
· Side Lighting
· Interior Lighting
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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