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Automotive Lighting Market Research Report and Growth Analysis 2022 by Technology (Halogen, Xenon and LED), Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), Application (Front Lights, Rear Lights, Side Lights and Interior Lights), End Market (OEM and Aftermarket) – Forecast till 2027
The worldwide automotive lighting market is expected to increase at a CAGR of 7.1%, with a value of USD 51.4 billion over 2027.
Today, most ambient light reflects a light source surface of interior surfaces and is designed to help the driver see a certain distance. Lighting is a vital component in automotive vehicles and plays a very important role in automotive safety. Vehicle manufacturers are showing great interest in integrating LED lights in vehicles, as these lights consume less power and have a longer life when compared to the halogen and HID lights. Moreover, LED lights offer durability and strength, have high-quality light-emitting diodes and are superior to all other forms of lighting technology. The automotive manufacturers are developing new lighting technologies and are focusing on the major lighting components, like headlights. They are entering into partnerships to be ahead in the competition within the market. Headlights are a major factor in providing a safe environment for driving at night.
Top Players Listed:
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The automotive lighting market is in the midst of a technological revolution characterized by the convergence of new technology with traditional car manufacturing. With the increasing trend of electric vehicles, automotive lighting manufacturers are developing new lighting technologies to replace traditional lights. Electric vehicle manufacturers are launching new vehicle models with the best cabin interiors. Upcoming interior lighting developments will be mainly driven by the safety, communication, comfort and styling demands. Light projections, smart LEDs, micro-LEDs, smart, functional surfaces, laser-based lighting, guiding materials for 3D light patterns on-demand and area backlighting with the hidden-until-lit effects are some of the new lighting technologies. Cabin lights are gaining popularity. They mainly include reading lights and dashboard lights. Interior lights include various applications in reading lamps, ambient interior lighting systems, and roof modules with optimized light guide technology. The entire market sector and the commercial and trade sectors have been facing a huge loss during the lockdown period. Due to the stoppage of the production work and supply chain, most industrial sectors have been bound to stop their sectors.
Market Segmentation:
The global automotive lighting market has been segmented into vehicle type, application, technology and regional sectors. Based on the vehicle type, the market has been divided into two categories like commercial and passenger. With the application section, the market is further divided into interior and exterior lighting. The interior lighting is further subdivided into four sections ambient lighting, footwell lights, roof lights & boot lights. The exterior lighting is subdivided into headlamps, fog lamps, taillights, daytime running lights, puddle lamps and high mounted stop lamps. With the technology basis, the automotive lighting market is divided into four parts: halogen, Xenon, LED, & other technologies. According to the regional basis, the market is divided into five sectors: Asia-pacific, Europe, North America, South America, and Middle East & Africa.
Regional Analysis:
According to the regional analysis report, the automotive lighting market is led by the Asia-pacific region, followed by the European and North American regions. Europe has been recognized as a major region focusing on passenger and pedestrian safety and implementing safety standards. The regional automotive manufacturers and the automotive component suppliers have continuously developed the safety and industrial establishment sectors.
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Industrial News:
With the rapid technological advancements in the automotive industry, the European region is expected to play a major role in the global automotive lighting market.
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