Automotive Lighting Market Size Worth $73.81 Billion By 2032 | CAGR: 8.6%

The global automotive lighting market size is expected to reach USD 73.81 billion by 2032, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The lighting system in a vehicle includes lighting and signaling devices located in the front, rear, side, or interior of the vehicle. Automotive lights play a crucial role in motor vehicles and are mainly used in the automotive industry to improve the visibility of the vehicle. An automotive lighting system is designed to improve visibility in low-light areas and ensure the safety of pedestrians and other drivers on the road. The market growth is driven by the ability of brake lights and indicators to alert passengers about the presence of a vehicle and its travel direction.

Integrating automotive lighting with ADAS in autonomous vehicles increases revenue growth. Lighting systems reduce collisions, detect traffic speed, enable vehicle communication, and boost the growth of the market.

Lighting is a crucial component in automotive vehicles and plays an extremely vital role in automotive safety. As per the Association for Safe International Road Travel, road accidents cause approximately 1.25 million deaths annually. Similarly, 20-50 million people get disabled and injured every year owing to accidents caused on the roads or by natural weather conditions such as rain, fog, dust, snow, and others.

The COVID-19 pandemic caused significant disruptions in the worldwide automotive supply chain, resulting in fluctuating market growth. Manufacturing facilities globally were impacted by the coronavirus outbreak, leading to a downturn in vehicle sales. The closure of manufacturing plants and the suspension of new car sales directly influenced the production of vehicle lighting components.

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The usage of advanced vehicle lighting technology has been on the rise. This increased adoption can be attributed to numerous factors, including advancements in technology, compliance with safety regulations, consumer preferences, and a growing desire for enhanced aesthetics. The popularity of Light Emitting Diode (LED) technology has surged in vehicle lighting applications. LEDs boast numerous advantages, such as energy efficiency, an extended lifespan, rapid response times, and a diverse range of design possibilities.

Automakers have extensively embraced LED technology for headlights, tail lights, and interior lighting to enhance visibility durability, and provide distinctive styling options. Within the automotive industry, there is a substantial trend towards the adoption of adaptive lighting systems.

Automotive Lighting Market Report Highlights

• In 2022, the LED segment accounted for the largest revenue share in the automotive lighting market. LED lighting systems are becoming increasingly popular owing to their environmentally friendly characteristics and cost-effectiveness. The growth of this sector is anticipated to be driven by the rising preference for energy-efficient and eco-friendly lighting systems. This trend is anticipated to continue throughout the forecast period.
• The headlight segment accounted for the highest market share during the forecast period. Headlights are a crucial need for all types of vehicles, as they deliver essential illustrations for drivers in challenging visibility conditions, such as adverse weather or nighttime. The need for advanced lighting solutions is constantly rising, which has given rise to a surge in the market for headlights.
• In 2022, Asia Pacific accounted for the largest market share in the automotive lighting market. There is an increasing demand for commercial and passenger vehicles in countries like Japan, China, India, South Korea and India. This demand is anticipated to drive the evolution of the automotive lighting market in the Asia Pacific region.
• North America region is accounted for the fastest growth in the automotive lighting market. The market in the region is expected to expand due to the increasing awareness amidst consumers about vehicle safety, together with the acceptance of stringent regulations about the usage of automotive lighting.
• The global key market players 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.

Polaris Market Research has segmented the automotive lighting market report based on type, technology, end user, application and region:

Automotive Lighting, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Interior
• Exterior

Automotive Lighting, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

• LED
• Halogen
• Xenon
• Others

Automotive Lighting, End User Outlook (Revenue - USD Billion, 2019 - 2032)

• Commercial Vehicles
• Passenger Vehicles

Automotive Lighting, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Headlights
• Taillights
• Interior Lights
• Fog Lights
• Others

Automotive Lighting, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Automotive Lighting Market Report Scope