The Lighting Market for Automotive is projected to grow at a CAGR of 6.80% from 2017 to 2022 and is expected to reach USD 29.97 billion by 2022. Increasing vehicle production and lighting applications are the key factors driving the demand for lighting in the automotive industry. With the increase in sales of electric and hybrid vehicles, the demand for lighting with low energy consumption is growing.
Objectives of the Automotive Lighting Market Study:
- To define and segment the automotive lighting market, in terms of volume (‘000 units) and value (USD million), by position, technology, application, vehicle type, and region
- To segment the country-level automotive lighting market and forecast the market size, by value and volume, based on vehicle type, light position, and technology
- To understand the automotive lighting market by application (Exterior and Interior)
- To segment the alternate fuel vehicle automotive lighting market and forecast the market size, by value and volume, based on vehicle type, light position, and technology
- To segment the automotive lighting market and forecast the market size, by value and volume, based on adaptive system type, namely, front lighting system, rear lighting, and interior lighting system
Key Players of Automotive Lighting Market
The Automotive Lighting Market ecosystem consists of manufacturers and Tier 1 suppliers such as Hella KGaA Hueck & Co. (Germany), Osram (Germany), Magneti Marelli (Italy), Koito Manufacturing Co., Ltd (Japan), and Stanley Electric (Japan); OEMs such as Volkswagen Group (Germany), Mercedes-Benz (Germany), Ford (U.S.), Hyundai (South Korea), Toyota (Japan), TATA (India), and Mahindra and Mahindra (India).
Target Audience of Automotive Lighting Market
- Manufacturers of automotive lighting systems
- Lighting component suppliers
- Dealers and distributors of automotive lighting systems
- Original equipment manufacturers
- Industry associations, investment firms, equity research firms, and private equity firms
Available Customisation of Automotive Lighting Market
With the given market data, MarketsandMarkets can provide market data for below categories:
- Off Highway lighting market (By Position, By Technology)
- Transport Lighting Market (Rolling Stock lighting market, Aviation lighting Market)
- Two Wheeler Lighting Market
- Adaptive Lighting market, by technology
Automotive front lighting to be the largest segment
The study considers four lighting positions in a vehicle for the estimation of the market size, namely, front, rear, side, and interior. The front lighting market is projected to constitute the largest lighting market, by value, in 2022. Driver safety and advanced features such as auto on/off and auto leveling are some of the adaptive lighting solutions that are gaining popularity in the front lighting segment. Halogen is presently dominating the front lighting segment. However, owing to benefits such as operation at lower temperature, low energy consumption, and freedom to design, advanced technologies such as LED projector headlamps are gaining popularity in recent years. The Laser technology is new to the market and is gaining popularity owing to its bright illumination.
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Interior lighting segment to grow at the fastest pace in the Lighting market for Automotive
With the increase in use of LED lights for interior applications, the segment has increasingly grown in vehicles across the globe. OLED lighting offers design flexibility and can be used even for minute lighting solutions. With such technological advancement, it has become possible for the manufacturer to offer advanced lighting solutions such as mood lighting. Hence, with technological and design modifications, the interior lighting market is expected to be the fastest growing market.
Growing markets like China and India to drive the lighting market for automotive industry
China and India together contribute 35% of the global vehicle production and approximately 34% of the global passenger car production. Owing to increasing vehicle production, the demand for automotive lighting will also increase in the region. The lighting market for exterior applications is estimated to be the largest market in the region and halogen technology will have the largest share.
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