Market Research Report
Automotive Lighting Market for ICE & EVs By Technology (Halogen, LED, Xenon), Position (Front, Side, Rear, Interior), Application, Adaptive Lighting & Region - Forecast to 2027
|Published by||MarketsandMarkets||Product code||270656|
|Published||Content info||203 Pages
Delivery time: 1-2 business days
|Automotive Lighting Market for ICE & EVs By Technology (Halogen, LED, Xenon), Position (Front, Side, Rear, Interior), Application, Adaptive Lighting & Region - Forecast to 2027|
|Published: September 4, 2019||Content info: 203 Pages||
"Rising disposable income and increasing sales of premium vehicles and SUVs to drive the growth of the automotive lighting market."
The automotive lighting market is projected to grow from USD 18.4 billion in 2019 to USD 23.3 billion in 2027 at a CAGR of 3.0% during the forecast period. The trend of improving illumination in premium vehicles & SUVs is driving the growth of the market. The increasing sales of these cars are expected to propel the growth of the market further. Moreover, consumers are paying more attention towards aesthetically appealing lights in a car which ultimately drive the demand for automotive lighting. Furthermore, the rising sales of electrified, semi-autonomous, and autonomous vehicles are expected to open new opportunities for the growth of the market over the next few years.
Automotive lightings are used mostly used in passenger vehicles where the customer is aware of the benefits of adaptive headlights and is ready to invest. Moreover, advancing technology catering to this vehicle segment coupled with quick consumer adaptability for these modules is expected to drive the growth of the market during the forecast period.
The LED technology is expected to be the fastest-growing market as it provides aesthetically appealing looks to the vehicle. Moreover, this lighting technology offers better visibility to both the driver and the oncoming car from the opposite direction in comparison to the other technologies like halogen and xenon.
Asia Pacific has been witnessing significant growth in the new car sales volume over the past few years, especially in emerging economies such as China and India. High disposable income of consumer and quick adoption of advancing technology, especially in vehicles, is expected to drive the demand for automotive lighting. Given below are a few key reasons driving the market for automotive lightings:
Many new models in the US that started offering LED headlights are: Cadillac XT4, Honda Insight, Honda Passport, Opel Ampera-e, and BMW X7, among others.
The key players automotive lighting market are: are Hella (Germany), Marelli (Italy), Osram (Germany), Valeo (France), Continental (Germany), Philips (Netherlands), Bosch (Germany), Varroc (India), Hyundai Mobis (South Korea), Koito (Japan), Denso (Japan), North American Lighting (US), Renesas (Japan), Lumax (India), Aptiv (Netherlands), Grupo Antolin (Spain), Lear Corporation (US), Keboda (China), NXP (Netherlands), Gentex (US), FlexNGate (US), Federal-Mogul (US), Stanley Electric (Japan), Ichikoh (Japan) and Zizala (Austria).
Note: Others include Design Engineer, Exterior Lighting Designer, etc.
The study includes an in-depth competitive analysis of these key players in the automotive lighting market, with their company profiles, SWOT analysis of the top 5 companies, recent developments, and key market strategies.
The automotive lighting market has been segmented by technology (halogen, LED, and xenon), by application (Headlight, Fog light, Day Time Running Light (DRL), Taillight, Sidelight, Dashboard Light, Glove Box, Reading Light, Center High-Mount Stop Light (CHMSL), Dome Light), by vehicle type (passenger car, light commercial vehicle, bus and truck), by adaptive lighting (Front adaptive lighting (Auto on/off, bending/curve/cornering, high beam assist, headlight leveling), rear adaptive lighting, ambient lighting), by region - Asia Pacific (China, India, Japan, South Korea, and Thailand), Europe (France, Germany, Italy, Russia, Spain, and the UK), North America (Canada, Mexico, and the US), and RoW (Brazil and South Africa)
This report provides insights with reference to the following points:
(Business overview, Products offered, Recent developments & SWOT analysis)*
Details on Business overview, Products offered, Recent developments & SWOT analysis might not be captured in case of unlisted companies.