Automotive Lightening Market shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Automotive Lightening Market Growth and Trends
The global automotive lighting market has been estimated to reach USD 27.0 billion by the end of 2020 to USD 34.9 billion in 2025, at a compound annual growth rate of 5.3% during its forecast period. The global automotive lighting market size had been poised at $18.00 billion in the base of 2018, and is projected to reach $28.77 billion by 2026, registering a further compound annual growth rate of 6.7% from 2019 to 2026. The rear lighting segment was the highest contributor to the market, with $5.61 billion in 2018. Its estimated forecast period ends in 2027.
The factors driving the growth in this market include:
• Stringent lighting regulations in developed nations across the globe where automotive lighting is a must.
• The ability to increase the security functions in vehicles by the lighting systems in times of heavy traffic so that road accidents are minimized. Increasing Road accidents have started to be the major concerns by governments.
• Industrialization in premium and the SUV sales and advancements in lighting technology that are key drivers of the market
• The ability to help the driver of the vehicle to identify any obstacles or to identify any rough conditions of the road when driving in the dark. These increases visibility for drivers thus, ensuring safety and provide a well-equipped look for the rear or front exterior of all vehicles with the advancement in technology
• Strict governmental regulations regarding not just safety but, high demand for adaptive lighting that does not obstruct the journey for passengers or driver and the increasing production for diversity of options in the new trend of electric motor vehicles.
• The increasing disposal income and investments attributed in the market that flourishes the growth of the automotive lighting market furthermore within the projected time forecast.
• The ongoing development in product offerings by key manufacturers around the world who have coupled with the rising demand for accuracy in new technological measures produced in the automotive sector that has supported the growth in the market
• The regulation of rules and regulations implemented by different countries that reinforces such implementations worldwide that propels the market demand in the many years to come.
• The ability to provide pedestrians with proper safety measures because with this market they could detect a vehicle approaching from a longer distance, its position, its direction of movement and many more.
• The modernized lifestyles and increased urbanization levels with transportation sector growing hence, producing more vehicles that require automotive lighting.
• The growing adoption of equipment In the automotive sector that can match up to the consumers’ efficiency and effective levels that shifts all the attention towards automotive lighting
Challenges:
Some challenge faced by the automotive lighting market include:
• The rising cost of LED lights that are used in the automotive lighting manufacturing process that has challenges the economy of the market
• Less popularity of the new technological advances and its key benefits, due to which peoples’ preferences have still being on the old, conventional vehicles without automotive lighting
• The utilization of halogen lights in the automotive light production that has enforce a huge disadvantage on the market due to its non-insulator properties resulting in a vast loss in heat energy and non-conservation of it.
• The introduction to elements like xenon that could replace halogen in its production which could also provide efficient brightness levels but, the challenge that it is not rich in nature around the world. So there is a lack of all-time availability – especially in rural areas to run the market growth
• The drawbacks of utilizing LED technology for these lights that is too small and compact and comes in various shapes and layouts because of which consumers’ needs will not be met
• Also the low cost-efficiency of LED Utilization that could bring down the revenue for the market in the long run. High production costs are harmful in running the market and even reduces productivity of functions
• Expense levels rising for projector headlights in comparison with reflector headlights that were used before automotive lighting was innovated. This can be challenging for it requires a larger space for set up and could even have arising complications while making it work that would bring up dissatisfactions in the consumers thus, levelling down the growth of Automotive lighting.
Automotive Lightening Industry Regional Analysis
Automotive Lightening Market Research Report Scope/Definition
For this market research, automotive lighting is a lighting system used in vehicles to provide better visibility to the driver while driving. Automotive lighting helps the driver find difficult road trucks, Pedestrians on the road, other vehicles using the road, and assistance to increase the visibility of other vehicles using the road. The growth of the automotive lighting market is attributed to the increase in emphasis on road safety measures, the continuous implementation of tough government regulations, and the increase in the production of automobiles globally. The demand for safety features along with automotive lighting systems is high due to the increase in the number of road accidents globally. Vehicles using automotive lighting can detect objects on the road, thereby ensuring the driver has made the necessary step needed. Automotive lights are mainly installed to enhance vehicle visibility under challenging environments and improve the vehicle efficiency in critical conditions. The increase in demand for automotive lighting in developing countries is expected to provide a further growth opportunity for industries operating in the market.
Automotive Lightening Market Share and Competition
Key companies operating in this industry are: Ichikoh Industries, Ltd., Robert Bosch Gmbh, Koito Manufacturing Co., Ltd., Stanley Electric Co., Ltd., Koninklijke Philips N.V., Magneti Holdings Co., Ltd., Zizala Lichtsysteme Gmbh, Nxp Semiconductors, Aptiv Plc, Grupo Antolin, Federal-Mogul, Corporation, Lear Corporation, Gentex Corporation, Flex-N-Gate, North American Lighting, Denso Corporation, Renesas Electronics Corporation, Keboda, Varroc, and Lumax Industries.
Automotive Lightening Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Technology Analysis (Revenue, USD Million, 2021 - 2028)
• Halogen
• LED
• Xenon
Adaptive Lightening Analysis (Revenue, USD Million, 2021 - 2028)
• Front Adaptive lighting (On/Off Function, Bending/Cornering, High Beam Assist, Headlight Levelling)
• Rear Adaptive Lighting
• Ambient Lighting
Vehicle Type Analysis (Revenue, USD Million, 2021 - 2028)
• Passenger Car
• Light Commercial Vehicle (LCV)
• Bus
• Truck
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Exterior Lighting
• Headlights
• Fog Lights
• Day Time Running Lights (DRL)
• Taillights
• Sidelights
• Centre High-Mount Stop Light (CHMSL)
• Interior Lighting
• Dashboard
• Glovebox
• Reading Lights
• Dome Lights
Region Analysis (Revenue, USD Million, 2021 - 2028)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Automotive Lightening Industry Companies
• Ichikoh Industries, Ltd.
• Robert Bosch Gmbh
• Koito Manufacturing Co., Ltd.
• Stanley Electric Co., Ltd.
• Koninklijke Philips N.V.
• Magneti Holdings Co., Ltd.
• Zizala Lichtsysteme Gmbh
• Nxp Semiconductors
• Aptiv Plc
• Grupo Antolin
• Federal-Mogul Corporation
• Lear Corporation
• Gentex Corporation
• Flex-N-Gate
• North American Lighting
• Denso Corporation
• Renesas Electronics Corporation
• Keboda
• Varroc
• Lumax Industries
Available Versions of Automotive Lightening Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
