Automotive Lighting Market Segmentation by Technology (Halogen, LED, Xenon, and Others); by Application (Front Lighting, Side Lighting, Rear Lighting, Interior Lighting); by Vehicle Type (Passenger Cars, Commercial Vehicles)-Global Demand Analysis & Opportunity Outlook 2030

Global Automotive Lighting Market Highlights over 2022-2030

The global automotive lighting market is estimated to be approximately USD 30 Billion by the end of 2021 and further grow at a CAGR of nearly 6% over the forecast period, i.e., 2022-2030. The growth of the market can be attributed to growing number of road accidents, and increasing government regulations over concerns regarding road safety. According to World Health Organisation (WHO), road traffic injuries are estimated to be the seventh leading cause of death by 2030. Moreover, growing trend in adoption of advanced lighting in vehicles is further expected to propel the market growth.

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However, high cost of LED lights owing to high production expenses is one of the key restraints for the growth of the market. Furthermore, dispersion of a lot of heat into the emitters with heavy lighting is also expected to hinder the growth of the market.

The market is segmented by technology into halogen, LED, xenon, and others, out of which, the halogen segment is estimated to hold the largest market share on the back of low cost and easy availability. Moreover, LED is growing in popularity over several advantages such as low energy consumption, brighter light emission, availability in various shapes and designs, etc. This segment is projected to witness significant growth over the forecast period.

Based on application, the market is segmented into front lighting, side lighting, rear lighting, and interior lighting, out of which, front lighting segment is projected to hold the largest market share over the forecast period owing to continuous development on headlamps of vehicles, and increasing adoption of LED headlamps.

Global Automotive Lighting Market Regional Synopsis

Regionally, the global automotive lighting market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Asia Pacific region is expected to hold the largest share of the market over the forecast period owing to the implementation of stringent government road safety regulations over increasing road accidents. Furthermore, an increase in demand for advanced technology in vehicles, and increasing production and sales of automobiles, especially commercial vehicles over the growing logistic industry are also expected to propel the growth of the market.

The Europe region is projected to witness the highest growth during the forecast period owing to increasing implementation of road safety regulations, and high investments in safety technologies.

Market Segmentation

Our in-depth analysis of the global automotive lighting market includes the following segments:

By Technology

• Halogen

• LED

• Xenon

• Others

By Application

• Front Lighting

• Side Lighting

• Rear Lighting

• Interior Lighting

By Vehicle Type

• Passenger Cars

• Commercial Vehicles

Growth Drivers and Challenges Impacting the Growth of the Global Automotive Lighting Market

Growth Drivers

• Growing number of road accidents

• Increasing government regulations over concerns regarding road safety

• Growing trend in adoption of advanced lighting in vehicles

Challenges

• High cost of LED lights owing to high production expenses

• Dispersion of a lot of heat into the emitters with heavy lighting

Key Companies Dominating the Global Automotive Lighting Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global automotive lighting market that are included in our report are Stanley Electric Co., Ltd., Koito Manufacturing Co., Ltd., Valeo, Marelli Holdings Co., Ltd., HELLA GmbH & Co. KGaA, Robert Bosch GmbH, OSRAM GmbH, Koninklijke Philips N.V., DENSO Corporation, Hyundai Mobis, and others.

Latest Developments in the Global Automotive Lighting Market:

October 2021: Marelli Motherson Automotive Lighting India Private Limited, a joint venture company by Marelli Holding Co., Ltd. and Motherson, announced the introduction of a new tool room in India, dedicated to specific automotive lighting applications to deliver solutions to the present and future requirements of the customers in India.

January 2021: OSRAM GmbH launched LEDriving HL Premium lamps in India, which provide stylish white light with clear beams patterns. The company claims the light is close to natural daylight and can improve visibility while driving at night.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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