Rising number of vehicles on the road, increasing manufacturing of commercial and passenger vehicles, and expanding use of electric vehicles are driving the worldwide automotive lighting market.
Automotive lighting is an important component of automobiles as it illuminates the road and provides the driver a better view of the road. It is incorporated or installed in the vehicle's front, sides, or back. It also allows other motorists or pedestrians to detect the vehicle's existence, size, and direction.
According to the World Health Organization, about 1.25 million people die each year as a result of bad weather conditions such as dust, fog, rain, or other reasons. Due to an increase in traffic accidents around the world, demand for car illumination is increasing.
By light type, LED is expected to have the largest market share due to their energy-efficient nature, greater and longer visibility, consumption of less energy by the vehicle, and enhancement of the vehicle's visual appeal. The lighting system of an automobile consists of both lighting and signalling systems. Furthermore, emergency vehicles, such as ambulances, are equipped with distinctive lighting to alert drivers and prioritize traffic flow.
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The major stumbling block to the spread of the automotive lighting is the high cost associated with LED production, cost of raw materials, high voltage sensitivity of LED, and a lot of heat is produced from LED which requires cooling equipment installation.
The passenger vehicle segment is anticipated to deliver the highest market share because of the increased use of automotive lighting in passenger vehicles to offer a better view of the interior and outside surroundings and rising adoption of electric vehicles in the region such as China, South Korea among others.
Asia Pacific is likely to have the largest market share due to large automobile sales, rapid vehicle production, and preference for electric vehicles adoption. Furthermore, luxury automobile sales have increased for advanced lighting systems, creating new potential for the global automotive lighting market to grow during the forecast period.
Hella KGaA Hueck & Co., Koito Manufacturing Co. Ltd., Osram Licht AG, Stanley Electric Co. Ltd., ZKW, LG Electronics, Varroc, DENSO Corporation, Hyundai Mobis, Koninklijke Philips N.V., ROBERT BOSCH GmbH, Valeo SA, Infineon Technologies AG, and Marelli Magnetti are among the leading players in the Global Automotive Lighting Market.
Automotive Lighting Market Segmentation:
By Light Type
- Xenon/HID
- LED
- Halogen
By Vehicle Type
- Commercial Vehicle
- Passenger Vehicle
By Adaptive Lighting
- Rear Adaptive Lighting
- Ambient Lighting
- Front Adaptive Lighting
By Application
Interior Lighting
- Glovebox
- Dome Lights
- Dashboard
- Reading Lights
- Exterior Lighting
- Fog Lights
- Taillights
- High Mount Stoplights
- Headlights
- Daytime Running Lights (DRL)
- Sidelights
By Sales Channel
- Aftermarket
- OEMs
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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