Automotive Lighting Market Share, Size, Trends, Industry Analysis Report, By Type (Interior, Exterior); By Technology; By End-User; By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 116
- Format: PDF
- Report ID: PM1438
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global automotive lighting market was valued at USD 35.10 billion in 2023 and is expected to grow at a CAGR of 8.6% during the forecast period.
Automotive lighting includes headlights, fog lights, taillights, interior lighting, and indicators, which provide sufficient illumination for drivers in bad weather or low-light conditions. Headlights, whether modern LED, traditional halogen, or xenon lights, improve visibility and prevent accidents. Fog lights cut through dense fog or heavy rain, improving driver visibility in difficult weather.
To Understand More About this Research: Request a Free Sample Report
The demand for automotive lighting is expected to increase during the forecast period due to the rising sales and production of automotive vehicles worldwide. This increase in demand is driven by factors such as rising disposable income, a growing need for transportation services, and an overall improvement in lifestyle. Additionally, government regulations for automotive lighting and a growing concern for road safety are key factors that drive the growth of the automotive lighting market.
One major cause of the increased demand for automotive lighting is the rising number of road accidents. This has led to a need for adaptive lighting systems and safety features in automobiles. Vehicles equipped with advanced and adaptive lighting can detect objects on the road, which helps to prevent accidents by alerting drivers in a timely manner to take necessary action. Furthermore, the rising demand for vehicles, as well as concerns regarding driver safety due to increasing accident cases, has led to the deployment of efficient lighting systems that provide optimum illumination on the road.
The COVID-19 pandemic had a significant impact on the automotive lighting market. The widespread disruptions caused by the virus, including lockdowns, supply chain interruptions, and a decline in consumer spending, led to a temporary slowdown in the automotive industry. Many automobile manufacturers faced production suspensions or slowdowns, affecting the demand for automotive lighting systems.
The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces Automotive Lighting Market key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry.
Additionally, economic uncertainty and reduced purchasing power of consumers during the pandemic influenced their willingness to invest in new vehicles or automotive accessories, further draining the market for advanced lighting technologies. However, as the global economy gradually recovers and the automotive industry adapts to new norms, the automotive lighting market has the potential to recover. With a growing emphasis on safety, energy efficiency, and advanced driver assistance systems, there should be an increased focus on innovative lighting solutions in the post-pandemic era.
For Specific Research Requirements: Request for Customized Report
Advancements in automotive lighting have many growth opportunities in the market. Integrating lights with ADAS in autonomous vehicles will accelerate revenue. Lighting systems reduce collisions and detect traffic speed. Automotive lighting enables vehicle communication, boosting market demand.
Industry Dynamics
Growth Drivers
- Increasing demand for cabin comfort and luxury features will drive the growth of the market
The automotive lighting sector is adopting new technologies to meet the growing demand for electric vehicles. The Lucid Air, an upscale electric sedan, has a spacious interior inspired by the company's Space Concept philosophy. Considerations of safety, communication, comfort, and aesthetics are driving advancements in interior lighting. These include light projections, intelligent LEDs, micro-LEDs, functional surfaces, laser-based illumination, guiding materials for 3D light patterns, and area backlighting with concealed-until-illuminated effects.
Cabin lights, reading lamps, ambient interior lighting systems, and roof modules with optimized light guide technology are becoming increasingly popular. While the adaptive lighting system is also gaining popularity, its requirements are relatively smaller compared to those of LED lights.
Report Segmentation
The market is primarily segmented based on type, technology, end user, application and region.
|
By Type |
By Technology |
By End User |
By Application |
By Region |
|
|
|
|
|
To Understand the Scope of this Report: Speak to Analyst
By Technology Analysis
- The LED segment accounted for the largest revenue share in 2022
In 2022, the LED segment accounted for the largest revenue share. LED lighting systems are superior to traditional halogen and xenon lighting systems in terms of energy efficiency, brightness, and lifespan. Due to their affordability and environmentally friendly nature, LED lighting systems are quickly gaining popularity. The growth of this segment is projected to be fueled by the increasing trend of using energy-saving and eco-friendly lighting systems, which is expected to continue during the forecast period.
On the other hand, the halogen segment is anticipated to witness fastest growth during the forecast period. Halogen lighting systems are commonly used in the automotive industry because they are reliable, convenient, and easy to use. Although they have a shorter lifespan and are less energy-efficient than LED lighting systems, the demand for halogen lighting systems has decreased. However, in emerging economies where cost is a key factor in purchasing decisions, the demand for halogen lighting systems is expected to remain steady.
By Application Analysis
- The headlight segment accounted for the highest market share during the forecast period
The headlight segment accounted for the highest market share during the forecast period. Headlights are an essential requirement for all types of vehicles, as they provide crucial illumination for drivers in challenging visibility conditions, such as nighttime or adverse weather. The demand for advanced lighting solutions is continuously increasing, which has led to a surge in the market for headlights. These innovative solutions offer improved visibility and safety features, making driving easier and safer for everyone.
On the other hand, taillight segment is anticipated to experience fastest growth during the forecast period. Taillights are an essential component for every vehicle as they deliver luminance to the rear during nighttime driving and signal the driver's intentions to brake or turn. The consistent growth in the sales of both passenger and commercial vehicles is anticipated to sustain a continual need for taillights.
Regional Insights
- Asia Pacific accounted for the largest market share in 2022
In 2022, Asia Pacific accounted for the largest market contributor in the automotive lighting market. There is a growing demand for passenger and commercial vehicles in countries like China, India, Japan, and South Korea. This demand is expected to drive the expansion of the automotive lighting market in the Asia Pacific region. Furthermore, the increase in disposable incomes and urbanization, along with the efforts of major automakers to expand their manufacturing facilities in the region, are anticipated to drive the growth of the market in the forecast period.
On the other side, north america is accounted for the fastest growth in the automotive lighting market. The market in the region is anticipated to expand owing to the growing awareness among consumers about vehicle safety, along with the acceptance of strict regulations regarding the use of automotive lighting. The presence of top automotive lighting manufacturers and the rising demand for advanced lighting technologies, such as LED and OLED, in high-end vehicles are also contributing to the market growth in the region.
Key Market Players & Competitive Insights
The market is characterized by intense competition, with established players relying on advanced technology, high-quality products, and a strong brand image to drive revenue growth. These companies employ various strategies such as research and development, mergers and acquisitions, and technological innovations to expand their product portfolios and maintain a competitive edge in the market.
Some of the major players operating in the global market include:
- General Electric Lighting
- Hella KGaA Hueck & Co.
- Ichikoh Industries, Ltd.
- Koito Manufacturing Co. Ltd.
- Koninklijke Philips N.V.
- Magneti Marelli S.P.A.
- Osram GmbH
- Stanley Electric Co., Ltd.
- Valeo S.A.
- Zizala Lichtsysteme GmbH
Recent Developments
- January 2020: Marelli and XenomatiX has partnered to create advanced Lidar solutions. As per the arrangement, XenomatiX will supply its Lidar products to enhance Marelli's Automotive Lighting solutions.
- April 2022: Osram has disclosed plans for a significant investment of USD 800 million to construct a state-of-the-art LED manufacturing facility in Malaysia. This strategic move underscores the company's commitment to enhancing its market standing through a renewed focus on optical technology.
- July 2022: Hella KGaA Hueck & Co. has launched an advanced vehicle lighting facility in China. This facility is dedicated to the advancement of cutting-edge technologies in front vehicle lighting.
- May 2024: HELLA displayed its most recent electronic and lighting solutions designed for municipal vehicles at IFAT. HELLA’s Bi-LED SlimLine headlamp adds a unique look with its colorful bezels, while the LED combo headlamp C240 combines necessary lighting features with a customizable logo option.
- July 2024: HELLA and Audi partnered to develop a new headlight concept, Q6 e-tron. With its adjustable digital daytime running lights and adaptive matrix LED headlamps, the new headlight allows users to choose from up to eight different light configurations.
Automotive Lighting Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 38.03 billion |
|
Revenue forecast in 2032 |
USD 73.81 billion |
|
CAGR |
8.6% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Segments Covered |
By Type, By Technology, By End-User, By Application, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation |
We strive to offer our clients the finest in market research with the most reliable and accurate research findings. We use industry-standard methodologies to offer a comprehensive and authentic analysis of the Automotive Lighting Market. Besides, we have stringent data-quality checks in place to enable data-driven decision-making for you.
Browse Our Top Selling Reports
Europe Homogeneous Precious Metal Catalyst Market Size, Share 2024 Research Report
Reciprocating Pumps Market Size, Share 2024 Research Report
Floral Tea Market Size, Share 2024 Research Report
FAQ's
The global automotive lighting market size is expected to reach USD 73.81 billion by 2032
Key players in the market are Electric Lighting, Hella KGaA Hueck & Co., Ichikoh Industries, Ltd., Koito Manufacturing Co. Ltd.
Asia Pacific contribute notably towards the global automotive lighting market
The global automotive lighting market is expected to grow at a CAGR of 8.6% during the forecast period.
The automotive lighting market report covering key segments are type, technology, end user, application and region.
© 2024 Polaris Market Research and Consulting. All rights reserved
