Automotive Lighting Market

Global Automotive Lighting Market Size (2024 to 2029)

The size of the global automotive lighting market is expected to be valued at USD 24970.38 Mn in 2024 and USD 32327.12 Mn by 2029 and grow at a CAGR of 5.30% from 2024 to 2029.

Lighting plays a prominent role in vehicles to provide support for drivers in dark or harsh environmental conditions. These lighting systems also help other commuters to detect the position, direction of movement, and size of the opposite vehicles. Apart from adding appealing looks to the vehicle, it also adds safety and security features to an automobile. It includes lighting and signaling devices. These lighting devices are mounted on different locations within the vehicle, such as the front, rear, top, and interior.

Global Automotive Lighting Market Drivers:

The growth of the global automotive lighting market is driven by the rising need for vehicles, growing concerns regarding safety, rising interest in advanced technologies, and the high purchasing power of customers. Advanced technologies such as adaptive lighting systems and other driver assistance systems are supporting automotive makers in enhancing the general safety and efficiency of vehicles.

An increase in income, improved lifestyle, and changing consumer preferences have positively impacted the sales of premium cars across the world. Laws or regulations don't mandate many of the driving force assistance features like Blind Spot Detection (BSD), Lane Departure Warning (LDW), Adaptive control (ACC), and Forward Collision Warning System (FCWS). Moreover, several premium car manufacturers are targeting these features to take care of their position within the market, resulting in healthy competition between automobile manufacturers. Car segments like SUV-D and SUV-E are now equipped with many premium features.

Global Automotive Lighting Market Restraints:

The high cost of LED lights may be a key concern for the global automotive lighting market. Halogen and Xenon/HID, which were used earlier, became less fashionable with the introduction of the latest technologies. Halogen lights have the main disadvantage of heating and energy-wasting, whereas Xenon light is more complex and requires a while to realize full brightness. The LED, on the other hand, is little and allows great manipulation for various shapes and styles. It consumes less energy and emits a brighter light than halogen. Moreover, as LED is costlier than other technologies, the utilization of LED is confined to high-end or premium vehicles. The high cost of LED is often attributed to its high cost. Materials like Indium gallium nitride, Aluminium gallium indium phosphide, and Aluminium gallium arsenide are the main cost-incurring substrates for manufacturers.

However, LEDs are used with a projector as compared with conventional lights that require reflectors. Projector headlights are costlier than reflector headlights and need more room within the vehicle. While the utilization of LED in automotive is currently low, it's expected to extend within the coming years, which successively would help reduce its price.

REPORT COVERAGE:

This research report on the global automotive lighting market has been segmented and sub-segmented into the following categories.

Global Automotive Lighting Market - By Technology:

• Halogen
• Xenon/HID
• LED

LED is estimated to be the most important and fastest-growing segment of the global automotive lighting market from 2020 to 2025. The expansion of this technology is often attributed to the inclusion of adaptive features such as automatic on/off and beam assist within the passenger vehicle segment. These characteristics are suitable for use in LED headlights. Also, LED consumes less energy as compared to halogen lights. Hence, a growing number of passenger vehicles are now provided with LED lighting technology.

Global Automotive Lighting Market - By Vehicle Type:

• Passenger Vehicle
• Commercial Vehicle

The increasing adoption of passenger cars provides the freedom of mobility to various places like offices, hospitals, remote areas, etc. becoming an integral part of the human lifestyle. Moreover, in past years, with technological advancements and the growing income of customers, their interest and expenditure also increased, resulting in increased spending on safety, comfort, and classy features within the vehicle. However, to fulfil the market interest, the automotive industry is sizeable to investing in new automotive technologies and potentially strong product areas to draw in target consumers.

Global Automotive Lighting Market - By Application:

• Front/Headlamps
• Rear Lighting
• Side
• Interior Lighting

Global Automotive Lighting Market - By Product Sale:

• Original Equipment Manufacturers (OEMs)
• Aftermarket Products

Global Automotive Lighting Market – By Region:

• North America 
• Europe 
• Asia Pacific
• Latin America
• Middle East and Africa

The Asia Pacific automotive lighting market is predicted to grow at the quickest rate during the foreseen phase. Leading OEMs that specialize in enhancing their presence in China and India, given the large potential of the automotive market in these countries. Because of the raised production of passenger vehicles within the area, Asia Pacific is projected to continue its share of the 44.0% market from 2019.

KEY MARKET PLAYERS:

General Electric Co, Hella KGaA Hueck & Co, Hyundai Mobis, Ichikoh Industries Ltd, Magneti Marelli S.p.A, OSRAM Licht Group, Royal Phillips Electronics, Samsung Electronics Co., Ltd, Stanley Electric Co. Ltd, Valeo SA, Zizala Lichtsysteme GmbH, Koito Manufacturing Co. LTD are some of the major key players dominating the global automotive lighting market.

RECENT HAPPENINGS IN THE MARKET:

• The Nobel Prize-winning brightening researcher has gone through the previous five years building up a laser-based lighting framework. His organization, SLD Laser, says the new structure is multiple times more brilliant than the present LED lights, fit for enlightening articles a kilometer away while utilizing less force than any present innovation.
• Magneti Marelli said it would grandstand its cutting-edge contributions at CES 2019 in Las Vegas in January to address the necessities of self-sufficient driving and availability with a wide scope of smart, smoothed, and profoundly coordinated lighting and hardware arrangements.
• OLED innovation achieves totally new structure choices for light sources and increases tremendous enthusiasm among clients in the car business. OLEDs are level light sources that accomplish greater homogeneity and can be steplessly and exclusively darkened.