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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Automotive Lighting Market Outlook
The global automotive lighting market reached a value of about USD 32.20 billion in 2023. The industry is further estimated to grow at a CAGR of 6.1% in the forecast period of 2024-2032 to reach a value of around USD 54.86 billion by 2032.
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LED Technology to Bolster the Market Growth of Automotive Lighting
The increasing penetration of light-emitting diodes in automotive lighting systems is driving the growth of the automotive lighting industry. In addition, the expanding adoption of LED lights due to their longer life by automotive manufacturers is contributing to the steady growth of the market. The increasing demands for energy-efficient electric cars and the utilisation of LED lights in them are accelerating the development of the automotive lighting industry. Moreover, the rising appeal of LED lights over conventional halogen lamps is because they offer brighter illumination and the emerging awareness about the importance of visibility for enhanced safe driving.
Further, the growing inclination of customers towards LED lights can also be attributed to the fact that it generates less heat and is energy efficient, thereby fuelling the industry growth. Over the forecast period, the innovative lighting designs provided by LED lights that enhance the aesthetics of automobiles are expected to aid the automotive lighting industry.
The Asia Pacific to Account for a Substantial Market Share in the Automotive Lighting Industry
The growing inclination of customers towards the advanced lighting systems in the vehicles and the increasing production of automobiles coupled with the incorporation of lights as a stock feature by manufacturers are significantly catalysing the development of the automotive lighting industry in the Asia Pacific region. In addition, the government measures towards protecting the lives of passengers and pedestrians are leading the market growth of the automotive lighting.
Automotive Lighting: Market Segmentation
Automotive lighting refers to the signalling or lighting devices integrated at the front, rear, side, and interior of a vehicle. It is used to illuminate the road ahead of an automobile to increase the drivers' visibility. The lights also help the pedestrians to see the position of vehicles and the intentions of drivers.
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The automotive lighting industry, by technology, is divided into:
- Halogens
- Xenon/HID
- LED
- Others
Based on vehicle type, the market is segmented into:
- Passenger Vehicles
- Commercial Vehicles
- Electric Vehicles
On the basis of application, the market is classified into:
- Front Lighting
- Headlights
- Fog Lights
- Daytime Running Lights (DRLs)
- Interior Lighting
- Dashboard
- Glove Box
- Reading Lights
- Dome Lights
- Rear Lighting
- Taillights
- Centre High-Mount Stop Light (CHMSL)
- License Plate Lamp
- Side Lighting
- Sidelights
- Side Rear View Mirror Indicator
Based on sales channel, the market is segmented into:
- Original Equipment Manufacturers Products (OEMs Products)
- Aftermarket Products
The regional markets for automotive lighting can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Technological Advancements to Drive the Market Growth of Automotive Lighting
The customers' growing demand for automobiles with advanced and innovative interior lighting features is bolstering the market for automotive lighting. In addition, the rising cases of road accidents due to adverse weather conditions are leading to the expanding demands for automotive lights, thereby augmenting the industry growth. As per reports, in 2019, the maximum increase in road accidents was due to foggy and misty weather conditions. The growing preference of customers for LED bulbs owing to their excellent performance and energy efficiency is fuelling the automotive lighting industry.
The measures taken by the governments to promote the use of lights in automotive to increase visibility are significantly catalysing the market. For instance, the Government of India made Automatic Headlamp mandatory for two-wheelers in 2017. The advancements in lighting technology such as laser lights and the novel light systems offered by the leading industry players are anticipated to stimulate the market for automotive lighting in the forecast period.
Key Industry Players in the Global Automotive Lighting Market
The report gives a detailed analysis of the following key players in the global automotive lighting market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- HELLA GmbH & Co. KGaA
- Valeo SA
- OSRAM GmbH
- Hyundai Mobis Co.,Ltd.
- Marelli Automotive Lighting Reutlingen (Germany) GmbH
- KOITO MANUFACTURING CO., LTD.
- STANLEY ELECTRIC CO., LTD.
- Koninklijke Philips N.V.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment
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| Breakup by Technology |
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| Breakup by Vehicle Type |
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| Breakup by Application |
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| Breakup by Sales Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
|
| Price Analysis |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global automotive lighting market attained a value of nearly USD 32.20 billion.
The market is estimated to grow at a CAGR of 6.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 54.86 billion by 2032.
The major industry drivers are growing adoption of vehicles, rising safety concerns and need for enhanced driving experience, and adverse weather conditions.
The key industry trends guiding the market growth include increasing cases of road accidents, government measures, and advancements in lighting technologies.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different market divisions, based on technology, include halogens, xenon/HID, and LED, among others.
The significant market divisions, based on vehicle type, include passenger vehicles, commercial vehicles, and electric vehicles.
The various applications of the product are front lighting, interior lighting, rear lighting, and side lighting.
The major market divisions, based on sales channel, include original equipment manufacturers products (OEMs Products) and aftermarket products.
The major players in the industry are HELLA GmbH & Co. KGaA, Valeo SA, OSRAM GmbH, Hyundai Mobis Co.,Ltd., Marelli Automotive Lighting Reutlingen (Germany) GmbH, KOITO MANUFACTURING CO., LTD., STANLEY ELECTRIC CO., LTD., and Koninklijke Philips N.V., among others.
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