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.
What is Automotive Lighting?
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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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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.
|Automotive Lighting Market Report Scope|
|Market size value in 2021||US$ 28.41 Billion|
|Market forecast in 2027||US$ 42.87 Billion|
|Growth Rate||CAGR of 6.70% from 2022 to 2027|
|Base year for estimation||2021|
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.
Automotive Lighting Companies:
Continental AG (OTCMKTS: CTTAY)
General Electric Company (NYSE: GE)
HELLA GmbH & Co. KGaA (ETR: HLE)
Hyundai Mobis (KRX: 012330)
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.
Explore Report Description with TOC & List of Figure: https://www.imarcgroup.com/automotive-lighting-market
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
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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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