Pune, India, Jan. 20, 2022 (GLOBE NEWSWIRE) -- According to credible estimates, worldwide Automotive LED Lighting market was worth USD 8090.1 million in 2020 and is anticipated to record a CAGR of 9.6% during 2021-2027 to reach a valuation of USD 15370 million by the year 2027.
Further, the research literature outlines the key growth drivers as well as the existing and upcoming challenges that will shape the industry dynamics. To explore and understand the key opportunities, the document houses in-depth study on type, application, and geographical segmentation. Proceeding further, it examines the competitive landscape of this vertical by profiling the leading companies in terms of product portfolio, industry share, and financials. Various strategies such as strategic alliances and new product development are also taken into deliberation to aid stakeholders in making well-informed decisions. Additionally, a top-to-bottom analysis of the industry supply chain is contained in the document.
The industry expansion is attributed to rising adoption of energy efficient lighting solutions, along with mandates for ensuring road safety, and extensive incorporation of LED in automobiles are propelling the industry growth.
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For the unversed, a light-emitting diode (LED) is a semiconductor light source with two leads. When triggered, it is a p-n junction diode that emits light. Electrons recombine with electron holes within the device when a proper voltage is given to the leads, releasing energy in the form of photons.
LEDs are used as high-mounted brake lights and turn signals in vehicles because of their fast switching times, prolonged life, and visibility in broad daylight due to high brightness and focus. But many vehicles now employ LEDs for their rear light clusters.
Because of the significant reduction in the time required to fully light or faster rise time, compared to an incandescent bulb, the usage in of LED brakes increases safety of vehicles, providing behind-the-wheel drivers more time to react.
LEDs have stylistic advantages over incandescent lamps having parabolic reflectors because they can produce considerably thinner lights. All these factors are impelling the product adoption, thus multiplying industry share.
COVID-19 impact:
Notably, the COVID-19 outbreak has severely impacted the worldwide Automotive LED Lighting industry trends, due to the insufficiency in raw material supply, owing to restricted movements amid lockdown.
Regional scope:
Considering the regional landscape, Europe is the leading contributor which accounts for around 46% market share at present. Whereas, Japan held 19% industry share in the past year, cite the experts.
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Global Automotive LED Lighting Market, Type Sub-Segments (Value, USD Million, 2016-2027)
- Interior Lighting
- Exterior Lighting
Global Automotive LED Lighting Market, Application Sub-Segments (Value, USD Million, 2016-2027)
- Commercial Vehicle
- Passenger Car
Global Automotive LED Lighting Market, Geographical Fragmentation (Value, USD Million, 2016-2027)
North America
- U.S.
- Canada
Europe
- Germany
- UK
- Italy
- France
- Russia
- Nordic Countries
- Rest of Europe
Asia Pacific
- Japan
- China
- India
- South Korea
- Southeast Asia
- Australia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
Middle East & Africa
- UAE
- Saudi Arabia
- UAE
- Rest of MEA
Global Automotive LED Lighting Market, Company Profiles (Value, USD Million, 2016-2027)
- Yuyao HOJA Lighting Products Co., Ltd
- FSL Autotech Co., Ltd.
- Sammoon Lighting Co., Ltd
- Xiamen Bymea Lighting Co., Ltd.
- Zhejiang Dahao Automotive Co., Ltd.
- Foshan Tuff Plus Auto Lighting Co., Ltd.
- Easelook Lighting Technology Co., Ltd.
- CN360LED
- Guangzhou Ledo Electronic Co., Ltd
- Car Lighting District
- Varroc
- ZKW Group
- Osram Licht AG
- Stanley Electric Co., Ltd.
- Hella KGaA Hueck & Co.
- Valeo S.A.
- Magneti Marelli S.p.A.
- Koito Manufacturing Co., Ltd.
Table of Content:
1 Study Coverage
1.1 Automotive LED Lighting Product Introduction
1.2 Market by Type
1.2.1 Global Automotive LED Lighting Market Size Growth Rate by Type
1.2.2 Exterior Lighting
1.2.3 Interior Lighting
1.3 Market by Application
1.3.1 Global Automotive LED Lighting Market Size Growth Rate by Application
1.3.2 Passenger Car
1.3.3 Commercial Vehicle
1.4 Study Objectives
1.5 Years Considered
2 Executive Summary
2.1 Global Automotive LED Lighting Market Size Estimates and Forecasts
2.2 Automotive LED Lighting Market Size by Region: 2021 Versus 2027
2.3 Automotive LED Lighting Sales by Region (2016-2027)
2.4 Automotive LED Lighting Market Estimates and Projections by Region (2022-2027)
3 Global Automotive LED Lighting by Manufacturers
3.1 Global Top Automotive LED Lighting Manufacturers by Sales
3.2 Global Top Automotive LED Lighting Manufacturers by Revenue
3.3 Global Automotive LED Lighting Price by Manufacturer (2016-2021)
3.4 Competitive Landscape
3.5 Global Automotive LED Lighting Manufacturing Base Distribution, Product Type
4 Company Profiles
5 Breakdown Data by Type
5.1 Global Automotive LED Lighting Sales by Type (2016-2027)
5.2 Global Automotive LED Lighting Revenue Forecast by Type (2016-2027)
5.3 Automotive LED Lighting Average Selling Price (ASP) by Type (2016-2027)
6 Breakdown Data by Application
6.1 Global Automotive LED Lighting Sales by Application (2016-2027)
6.2 Global Automotive LED Lighting Revenue Forecast by Application (2016-2027)
6.3 Automotive LED Lighting Average Selling Price (ASP) by Application (2016-2027)
7 North America
7.1 North America Automotive LED Lighting Market Size YoY Growth 2016-2027
7.2 North America Automotive LED Lighting Market Facts & Figures by Country
7.3 North America Automotive LED Lighting Sales by Type
7.4 North America Automotive LED Lighting Sales by Application
8 Asia-Pacific
8.1 Asia-Pacific Automotive LED Lighting Market Size YoY Growth 2016-2027
8.2 Asia-Pacific Automotive LED Lighting Market Facts & Figures by Region
8.3 Asia-Pacific Automotive LED Lighting Sales by Type
8.4 Asia-Pacific Automotive LED Lighting Sales by Application
9 Europe
9.1 Europe Automotive LED Lighting Market Size YoY Growth 2016-2027
9.2 Europe Automotive LED Lighting Market Facts & Figures by Country
9.3 Europe Automotive LED Lighting Sales by Type
9.4 Europe Automotive LED Lighting Sales by Application
10 Latin America
10.1 Latin America Automotive LED Lighting Market Size YoY Growth 2016-2027
10.2 Latin America Automotive LED Lighting Market Facts & Figures by Country
10.3 Latin America Automotive LED Lighting Sales by Type
10.4 Latin America Automotive LED Lighting Sales by Application
11 Middle East and Africa
11.1 Middle East and Africa Automotive LED Lighting Market Size YoY Growth 2016-2027
11.2 Middle East and Africa Automotive LED Lighting Market Facts & Figures by Country
11.3 Middle East and Africa Automotive LED Lighting Sales by Type
11.4 Middle East and Africa Automotive LED Lighting Sales by Application
12 Supply Chain and Sales Channel Analysis
12.1 Automotive LED Lighting Supply Chain Analysis
12.2 Automotive LED Lighting Key Raw Materials and Upstream Suppliers
12.3 Automotive LED Lighting Clients Analysis
12.4 Automotive LED Lighting Sales Channel and Sales Model Analysis
13 Market Dynamics
Related Report:
Automotive Lighting Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027
The automotive lighting market is estimated to observe significant growth by 2027 driven by the proliferating demand for these systems across the globe. Additionally, increasing focus on technological advancements is projected to further boost market growth through the forecast timeline. On the regional spectrum, the North America automotive lighting market is slated to generate a respectable valuation by the end of 2027. The implementation of stringent regulations associated with road safety in the U.S. and Canada is likely to play a vital role in the regional market growth over the coming years. Driven by successful immunization drives across leading regions in response to the COVID-19 pandemic, the automotive industry is now seeing an upsurge in demand. Subsequently, mounting automotive sales have immensely enhanced market dynamics.
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