iCrowdNewswire Nov 9, 202011:01 PM ET
The study considers an automotive lighting system consisting of various lights and signaling units which are fitted on the front, rear, side, and interior of the vehicle. The automotive lighting system may be used to enhance the visibility of an automobile, illuminate the interior, and act as a warning system for other vehicles. It can also alert the pedestrians of vehicle presence and the direction of the vehicle of travel.
The Global Automotive Lighting Market size is projected to grow from an estimated value of USD 27.0 billion in 2020 to USD 34.9 billion in 2025, at a CAGR of 5.3% during the forecast period from 2020 to 2025.
A significant increase in the demand for new car sales and a considerable amount of usage of advanced lighting are surging the demand for automotive lighting in the market. With a soaring per capita income with a high purchasing parity, consumers can invest in advanced lighting features like adaptive lighting, thus, driving the market growth in the upcoming years.
The key players automotive lighting market 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).
- Increase in demand for premium segment vehicles
- Lighting Regulations for better visibility and safety
- High demand for adaptive lighting
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LED lighting technology is expected to dominate the automotive lighting market globally during the forecast period 2020-2025. The changing consumer preferences and the introduction of LEDs with adaptive features at competitive pricing is expected to drive the growth of this product category. Many leading manufacturers have already developed LED lights with adaptive features. The segment is driven mainly due to factors such as ease of use, the requirement of negligible initial setup, and lower power consumption by LED lights. Moreover, its use as a headlight with higher visibility, it also has a lesser impact on the eyes of the other drivers coming from the opposite direction.
China was the largest manufacturer and consumer of the automotive lighting due to the presence of a robust automobile production base and huge domestic sales of cars. Other Asian countries such as Japan, Korea, and India showcased promising growth during 2017 and 2018, and this trend is likely to continue till 2025. The Asia Pacific is one of the main production bases for several European and North American automotive lighting manufacturers. Thus, the growing global sales of automobiles are expected to drive the growth of the automotive lighting industry.
However, the Asia Pacific automotive industry has faced major challenges due to the COVID-19 pandemic. For instance, the production activities of major OEMs, like General Motors, Honda, Nissan, Peugeot, and Renault, have been disrupted, thereby impacting the automotive lighting market as well. For instance, two-thirds of automotive production has been directly affected by China’s industrial lockdown, impacting the suppliers of lighting system components as well. Additionally, the shortage of Chinese-made parts has impacted global production.
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- Automotive Lighting Market, By Application
- Passenger Car Lighting Market, By Application
- Passenger Car Interior Lighting Market, By Application (Dashboard, Glove Box, Reading Light, Dome Light, Rear View Mirror Interior Light)
- Passenger Car Front Lighting Market, By Application (Headlight, Fog Light, Daytime Running Light)
- Passenger Car Rear Lighting Market, By Application (Taillight, Center High-Mount Stop Light, License Plate Light)
- Passenger Car Side Lighting Market, By Application (Sidelight, Side Rear View Mirrors Indicators Light)
- Light Commercial Vehicle Lighting Market, By Application
- Light Commercial Vehicle Interior Lighting Market, By Application (Dashboard Light, Glove Box, Reading Light, Dome Light, Rear View Mirror Interior Light)
- Light Commercial Vehicle Front Lighting Market, By Application (Headlight, Fog Light, Daytime Running Light (Drl))
- Light Commercial Vehicle Rear Lighting Market, By Application (Tail Light, Center High-Mount Stop Light (Chmsl), License Plate Light)
- Light Commercial Vehicle Side Lighting Market, By Application (Sidelight)
- Truck Lighting Market, By Application
- Truck Interior Lighting Market, By Application (Dashboard Light, Cabin And Reading Light, Engine Compartment Light)
- Truck Front Lighting Market, By Application (Headlight, Fog Light, Clearance Lamp, Turn Signal Lamp, Day Time Running Light)
- Truck Rear Lighting Market, By Application (Stop Lamp, Tail Lamp, License Plate Lamp, Turn Signal Lamp)
- Truck Side Lighting Market, By Application (Marker Lamp)
- Bus Lighting Market, By Application
- Bus Interior Lighting Market, By Application (Dashboard Lamp, Area Light, Engine Compartment Light, Footwell Light)
- Bus Front Lighting Market, By Application (Headlamp Unit, Clearance Lamp, Indicator, Identification Lamp, Day Time Running Light)
- Bus Rear Lighting Market, By Application (License Plate Lamp, Tail Lamp, Rear Clearance Lamp, Rear Ident Cation Lamp, Stop Lamp)
- Bus Side Lighting Market, By Application (Marker Lamp)
- Passenger Car Lighting Market, By Application
- Automotive Adaptive Lighting, By Type
- Front Adaptive Lighting (Auto On/Off, Bending/Cornering Lights, High Beam Assist, Headlight Leveling)
- Rear Adaptive Lighting
- Ambient Lighting
- Automotive Lighting, By Technology
- Xenon/ HID
- Electric Vehicle Lighting, By Application
- Exterior Lighting (Headlight, Fog Light, Daytime Running Light, Tail Light, Sidelight, Center High Mount Stop Light)
- Interior Lighting ( Dashboard Light, Glove Box Light, Reading Light, Dome Light)
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Keywords: Automotive Lighting Market, Lighting Market, Automotive Lighting Industry, Automotive, Lighting, Automotive Lights Market