New York, United States, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Automotive vehicles, including passenger cars and commercial vehicles, require cost-effective and energy-efficient lighting systems for a safe driving experience. Increasing purchasing power and automotive production propel the demand for automotive lighting systems. According to an analysis by the Organisation Internationale des Constructeurs d’Automobiles (OICA), the sales of passenger cars increased from 68.5 million units to 66.4 million units from the year 2015 to 2016. The acceptance of intelligent lighting technologies such as driver assistance at night and situation-based light control in commercial vehicles is creating growth opportunities for the automotive lighting market. Furthermore, the increasing demand for passenger cars is aiding the consumption of automotive lighting products globally. Automobile companies are focusing on improving vehicle aesthetics, which is surging the demand for high-quality lighting systems. Additionally, the demand for commercial vehicles is escalating, owing to government infrastructure development projects and improvement in trade and transportation.
Lighting systems improve visibility for drivers in case of unusual conditions and enhance the aesthetic appeal of different parts of a vehicle. The emergence of new technologies such as OLED, LED, and laser is providing substantial growth potential, which is anticipated to boost the automotive lighting market; however, the development and implementation of such solutions are complex. Key players and OEMs in the automotive lightening industry possess substantial purchasing power, which allows them to procure lighting systems in bulk and negotiate favorable pricing. Governments are taking initiatives to enhance driving experience and reduce accidents, which is positively influencing the market growth. For instance, the National Road Safety Policy in India has introduced several measures, including safer vehicles, establishing a road safety information database, and safer road infrastructure.
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Segmentation Insights
The global automotive lighting market can be segmented by technology, vehicle type, application, and region.
Based on technology, the market is segmented into LED, Halogen, and Xenon. LED holds the largest market share, owing to the extensive use of LEDs as rear lighting in vehicles due to their power efficiency. In China, manufacturers of lighting systems are making rapid advancements in the technology of Daylight running lights (DRL) for vehicles, and numerous manufacturers are using standard LEDs for DRL products.
Based on vehicle type, the market is segmented into passenger cars, commercial vehicles, and two-wheelers. Passenger cars hold the largest market share, owing to their high consumption across the globe and the integration of interior & exterior, rear, side, and front-lighting in these vehicles.
Based on application, the market is segmented into interior lighting, side lighting, rear lighting, and front lighting/headlamp. Interior lighting holds the largest market share owing to its high implementation in modern passenger cars. Additionally, it provides driver safety features during night time and in odd conditions.
Report Scope
| Report Metric | Details |
| Market Size | USD 66.45 Billion by 2030 |
| CAGR | 7.5% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Vehicle Type, Application, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | General Electric, Osram GmbH, Magneti Marelli S.P.A, Koninklijke Philips N., Koito Manufacturing Co. Ltd, Stanley Electric Co., Ltd., Lumax Industries Zizala Lichtsysteme GmbH, Ichikoh Industries Ltd., and Hella KGaA Hueck & Co., |
| Key Market Opportunities | The development and integration of laser technology and LEDs in modern vehicles |
| Key Market Drivers | Increase in the sales of automotive vehicles Government initiatives and programs targeting to reduce road accidents and enhance driving experience |
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Regional Insights
Geographically, the automotive lighting market can be segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
Asia Pacific is expected to dominate the automotive lighting market, owing to the presence of major market players and manufacturers in China, Japan, and South Korea. Additionally, the demand for Asian-made automotive components is increasing in the U.S. and Europe, which is expected to drive the market. South Korea plays a major role in the expansion of the Asian automotive lighting market due to the increasing sales, manufacturing, and export activities in the country. The presence of critical automotive players, namely Kia Motors, Hyundai, and SsangYong, is also responsible for triggering growth opportunities in the country. China and India collectively account for 35% of global vehicle production and nearly 34% of global passenger car production, making Asia Pacific the fastest growing automotive lighting market. Besides, the Indian automotive lighting market is projected to witness significant growth, owing to increasing automotive sales and economic expansion. Furthermore, government regulations and initiatives in Japan to regulate environmental hazards and mercury usage are generating high demand for advanced lighting solutions. According to an analysis by the Organisation Internationale des Constructeurs d’Automobiles (OICA), the sale of passenger cars in China was pegged at approximately 24.37 million units in 2016 as compared to 21.21 million units in 2015. Additionally, in 2016, around 2.967 million units and 4.15 million units of passenger cars were sold in India and Japan, respectively.
Europe is expected to emerge as a developing region in the automotive lighting market during the forecast period. Growing demand and technological advancements are inspiring manufacturers to reduce production cost and increase yield. Additionally, growth in R&D for technological expansion has amplified the effective integration of LEDs into automotive exterior lights, which is foreseen to enhance market growth during the forecast period. Moreover, prominent automotive manufacturers such as Audi, BMW, and Mercedes-Benz are experiencing rapid growth in the regional market. For instance, in October 2017, Osram India launched an innovative lighting solution named Rallye, which is well-suited with commercial vehicles, two-wheelers, and four-wheelers. This product is manufactured in Osram’s manufacturing plants in Germany and China.
Key Highlights
- The global automotive lighting market size is projected to reach USD 66.45 billion by 2030 at a CAGR of 7.5% from 2022 to 2030.
- LED holds the largest market share, owing to the extensive use of LEDs as rear lighting in vehicles due to their power efficiency.
- Passenger cars hold the largest market share, owing to their high consumption across the globe.
- Interior lighting holds the largest market share owing to its high implementation in modern passenger cars.
- Asia Pacific is expected to dominate the automotive lighting market.
Some of the major players in the global automotive lighting market include
- General Electric
- Osram GmbH
- Magneti Marelli S.P.A
- Koninklijke Philips N.
- Koito Manufacturing Co. Ltd
- Stanley Electric Co. Ltd.
- Lumax Industries Zizala Lichtsysteme GmbH
- Ichikoh Industries Ltd.
- Hella KGaA Hueck & Co.
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Automotive Lighting Market: Segmentation
By Technology
- LED
- Halogen
- Xenon
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two-Wheelers
By Application
- Interior Lighting
- Side Lighting
- Rear Lighting
- Front Lighting/Headlamp
Regions Covered
- North America
- Europe
- Asia-Pacific
- Latin America
- MEA
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Market Overview
3.1 Report Segmentation & Scope
3.2 Value Chain Analysis: Automotive Lighting Market
3.3 Key Market Trends
3.3.1 Drivers
3.3.2 Restraints
3.3.3 Opportunities
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of Substitution
3.4.4 Threat of New Entrants
3.4.5 Competitive Rivalry
3.5 Market Share Analysis
4 By Technology Overview
4.1 Introduction
4.1.1 Market Size & Forecast
4.2 LED
4.2.1 Market Size & Forecast
4.3 Halogen
4.3.1 Market Size & Forecast
4.4 Xeon
4.4.1 Market Size & Forecast
5 By Vehicle Type Overview
5.1 Introduction
5.1.1 Market Size & Forecast
5.2 Passenger Cars
5.2.1 Market Size & Forecast
5.3 Commercial Vehicles
5.3.1 Market Size & Forecast
5.4 Two-Wheelers
5.4.1 Market Size & Forecast
6 By Application Overview
6.1 Introduction
6.1.1 Market Size & Forecast
6.2 Interior Lighting
6.2.1 Market Size & Forecast
6.2 Side Lighting
6.2.1 Market Size & Forecast
6.3 Rear Lighting
6.3.1 Market Size & Forecast
6.3 Front Lighting/Headlamps
6.3.1 Market Size & Forecast
7 Regional Overview
7.1 Introduction
7.1.1 Market Size & Forecast
7.2 America
7.2.1 North America
7.2.1.1 U.S.
7.2.1.1.1 By Technology
7.2.1.1.2 By Vehicle Type
7.2.1.1.3 By Application
7.2.1.2 Canada
7.2.1.2.1 By Technology
7.2.1.2.2 By Vehicle Type
7.2.1.2.3 By Application
7.2.1.3 Mexico
7.2.1.3.1 By Technology
7.2.1.3.2 By Vehicle Type
7.2.1.3.3 By Application
7.3 Latin America
7.3.1 Brazil
7.3.1.1 By Technology
7.3.1.2 By Vehicle Type
7.2.1.3 By Application
7.3.2 Argentina
7.3.2.1 By Technology
7.3.2.2 By Vehicle Type
7.3.2.3 By Application
7.3.3 Colombia
7.3.3.1 By Technology
7.3.3.2 By Vehicle Type
7.3.3.3 By Application
7.3.4 Rest of Latin America
7.3.4.1 By Technology
7.3.4.2 By Vehicle Type
7.3.4.3 By Application
7.4 Europe
7.4.1 Market Size & Forecast
7.4.2 Germany
7.4.2.1 By Technology
7.4.2.2 By Vehicle Type
7.4.2.3 By Application
7.4.3 France
7.4.3.1 By Technology
7.4.3.2 By Vehicle Type
7.4.3.3 By Application
7.4. 4 U.K.
7.4.4.1 By Technology
7.4.4.2 By Vehicle Type
7.4.4.3 By Application
7.4.5 Italy
7.4.5.1 By Technology
7.4.5.2 By Vehicle Type
7.4.5.3 By Application
7.4.7 Spain
7.4.7.1 By Technology
7.4.7.2 By Vehicle Type
7.4.7.3 By Application
7.4.7 Rest of Europe
7.4.7.1 By Technology
7.4.7.2 By Vehicle Type
7.4.7.3 By Application
7.5 Asia Pacific
7.5.1 Market Size & Forecast
7.5.2 Japan
7.5.2.1 By Technology
7.5.2.2 By Vehicle Type
7.5.2.3 By Application
7.5.3 China
7.5.3.1 By Technology
7.5.3.2 By Vehicle Type
7.5.3.3 By Application
7.5.4 Australia
7.5.4.1 By Technology
7.5.4.2 By Vehicle Type
7.5.4.3 By Application
7.5.5 India
7.5.5.1 By Technology
7.5.5.2 By Vehicle Type
7.5.5.3 By Application
7.5.6 South Korea
7.5.6.1 By Technology
7.5.6.2 By Vehicle Type
7.5.6.3 By Application
7.5.7 Rest of Asia-Pacific
7.5.7.1 By Technology
7.5.7.2 By Vehicle Type
7.5.7.3 By Application
7.6 Middle East & Africa
7.6.1 Market Size & Forecast
7.6.2 Saudi Arabia
7.6.2.1 By Technology
7.6.2.2 By Vehicle Type
7.6.2.3 By Application
7.6.3 South Africa
7.6.3.1 By Technology
7.6.3.2 By Vehicle Type
7.6.3.3 By Application
7.6.4 Kuwait
7.6.4.1 By Technology
7.6.4.2 By Vehicle Type
7.6.4.3 By Application
7.6.5 Rest of Middle East & Africa
7.6.5.1 By Technology
7.6.5.2 By Vehicle Type
7.6.5.3 By Application
8 Company Profile
8.1 General Electric
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Recent Developments
8.1.4 Product Portfolio
8.2 Osram GmbH
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Recent Developments
8.2.4 Product Portfolio
8.3 Magneti Marelli S.P.A
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.3.4 Product Portfolio
8.4 Koninklijke Philips N.
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Recent Developments
8.4.4 Product Portfolio
8.5 Koito Manufacturing Co. Ltd
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Recent Developments
8.5.4 Product Portfolio
8.6 Stanley Electric Co., Ltd.
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Recent Developments
8.6.4 Product Portfolio
8.7 Lumax Industries Zizala Lichtsysteme GmbH
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Recent Developments
8.7.4 Product Portfolio
8.8 Ichikoh Industries Ltd.
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Recent Developments
8.8.4 Product Portfolio
8.9 Hella KGaA Hueck & Co.
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Recent Developments
8.9.4 Product Portfolio
Table of Content and Figure @ https://straitsresearch.com/report/automotive-lighting-market/toc
Market News
- In June 2017, Magneti Marelli announced the commencement of its new automotive lighting production plant in China for the manufacturing of LED headlamps and rear lamps.
News Media
Industrial Lighting Market Share Worth USD 1990 Million By 2030 | CAGR of 5%
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