Global Automotive Lighting Market Growing On the Back of Rising Advancements in Lighting Technologies in Automobiles, Specifically in LED Lights

The light which provides better visibility in extreme conditions of weather and also during the night time is termed as automotive lighting. It helps the driver of the vehicle to identify any obstacles or to identify the rough conditions of the road. The vehicle has various types of signaling components and lighting which improves the visibility of vehicles and it also gives a stylish look to our vehicles as these components are equipped at the rear side or front of vehicles.

The global automotive lighting market was valued at around USD 27 billion in the year 2019, and with the advancements and developments in the future, it is expected to reach a market value of around USD 35 billion by the end of the year 2026. Industry experts and analysts predict that market growth would be around 5.5% in terms of CAGR value.

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As per the latest figures of the World Health Organization, around 40-50 million people get injured in road accidents and also around 1.30 million people die because of road accidents which is caused by the natural conditions of weather such as rain, fog, snow, dust, others. This has fueled the growth of the automotive lighting market as it has good visibility in these weather conditions. The government in several regions has imposed strict regulations on the manufacturers for producing superior light with components, low battery consumption, and also good illumination.

The government has imposed various strict norms regarding safety because in the night time the drivers use high beam light or bright light for better visibility which can cause a danger for the vehicle which is coming from the opposite end, and due to this reason the government bodies have imposed regulations on the manufacturer of automotive lighting to produce much more efficient lighting which cannot cause discomfort to other vehicles and which in turn helps to reduce the road accidents. However, the high cost of LED lights can hamper the growth of the automotive lighting market to a larger extent.

Top Market Players

  • Osram
  • Valeo
  • Continental
  • North American Lighting
  • Renesas
  • Lumax
  • Aptiv
  • Stanley Electric
  • Grupo Antolin
  • Keboda
  • Grupo Antolin
  • Lear Corporation
  • Philips
  • Bosch
  • Varroc
  • Hyundai Mobis
  • Hella
  • Koito
  • Denso
  • NXP
  • Gentex
  • FlexNGate
  • Federal-Mogul
  • Marelli amongst

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Based on type segmentation, the global automotive lighting market can be segmented into halogen, xenon, LED, and others. Among these LED segmented is expected to dominate the market over the forecast period as LED has lower power consumption property as compared to halogen bulbs and also manufacturers have invested in the research and development activities to develop advanced LED lights which can also replace the halogen bulbs in future. Further, based on the application the market is bifurcated into commercial vehicles, and passenger vehicles. Passenger vehicles will dominate the market in the forecast period due to the increase in production and sales of passenger vehicles globally and also the advanced lighting penetration is much higher in passenger vehicles as compared to other vehicles such as trucks, buses. In terms of geography, the market for automotive lighting is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to have a higher market share over the forecast period due to the fast adoption of consumers and high sale for automobiles in this region. Also, China and Japan have recorded the largest sales of vehicles.

Frequently Asked Questions

What is automotive Lighting?

The light which provides better visibility in extreme conditions of weather and also during the night time is termed as automotive lighting. It helps the driver of the vehicle to identify any obstacles or to identify the rough conditions of the road. The vehicle has various types of signaling components and lighting which improves the visibility of vehicles and it also gives a stylish look to our vehicles as these components are equipped at the rear side or front of vehicles.

What are the key factors driving Automotive Lighting Market expansion?

The government has imposed various strict norms regarding safety because in the night time the drivers use high beam light or bright light for better visibility which can cause a danger for the vehicle which is coming from the opposite end, and due to this reason the government bodies have imposed regulations on the manufacturer of automotive lighting to produce much more efficient lighting which cannot cause discomfort to other vehicles and which in turn helps to reduce the road accidents.

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Which region will make notable contributions towards global Automotive Lighting Market revenue?

The Asia Pacific is expected to have a higher market share over the forecast period due to the fast adoption of consumers and high sale for automobiles in this region. Also, China and Japan have recorded the largest sales of vehicles.

Which are the key players leveraging Automotive Lighting Market growth?

Some of the key players operating in the automotive lighting market include Robert bosch GmbH, Stanley electric co. ltd., Hyundai mobis, gentex corporation, koninklijke Philips N.V., lumax industries, varroc group, koiko manufacturing co. ltd., valeo, north American lighting inc., continental AG, OSRAM GmbH, hella GmbH, lear corporation, denso corporation among others. The players are focusing on joint ventures and are expanding their business globally.