Automotive Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:

The global automotive lighting market size reached US$ 30.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.

Automotive lighting refers to all the light-emitting devices installed in automobiles, which include headlights, taillights, daytime running lights, fog lights, signal lights, brake lights, hazard lights, and driving lamps. They help illuminate different lanes and recognize roads, obstacles, and traffic signs to offer a safe driving experience. They add aesthetics to the interior and exterior parts of the vehicle while increasing its visibility on the road. At present, there is a rise in the integration of light-emitting diode (LED) lights in vehicles as they consume less power, have a longer life, and offer durability and strength as compared to halogen and high-intensity discharge (HID) lights.

Automotive Lighting Market Trends:

The growing awareness among the masses about road safety measures represents one of the key factors driving the market across the globe. Moreover, there is an increase in the utilization of new lighting technologies, such as smart LEDs, micro-LEDs, smart functional surfaces, laser-based lighting, guiding materials for 3D light patterns, and area backlighting with hidden-until-lit effects. This, along with the escalating demand for electric vehicles (EVs) due to the increasing air pollution worldwide and consequently rising environmental consciousness among individuals, is propelling the growth of the market. In addition, the wide availability of commercial vehicles through online stores and the expanding e-commerce industry is positively influencing the market. Besides this, governments of several countries are undertaking initiatives to promote the use of lighting systems in vehicles. Additionally, technological advancements in the automotive sector are offering lucrative growth opportunities to end-users and industry investors. Furthermore, key market players are extensively investing in research and development (R&D) activities to improve safety technologies. These players are also focusing on partnerships, which are projected to increase their overall sales and profitability.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive lighting market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, vehicle type, sales channel and application.

Breakup by Technology:

Halogen
Xenon/HID
LED

Breakup by Vehicle Type:

Passenger Vehicle
Commercial Vehicle

Breakup by Sales Channel:

Original Equipment Manufacturers
Aftermarket

Breakup by Application:

Front Lighting/Headlamps
Rear Lighting
Side Lighting
Interior Lighting

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Continental AG, General Electric Company, HELLA GmbH & Co. KGaA, Hyundai Mobis, Koito Manufacturing Co. Ltd., Koninklijke Philips N.V., LG Electronics Inc., Lumax Industries Limited, Magneti Marelli S.p.A., Osram Licht AG (ams AG), Robert Bosch GmbH, Samsung Electronics Co. Ltd., Stanley Electric Co. Ltd. and Valeo.

Key Questions Answered in This Report:

What was the size of the global automotive lighting market in 2022?

What is the expected growth rate of the global automotive lighting market during 2023-2028?

What has been the impact of COVID-19 on the global automotive lighting market?

What are the key factors driving the global automotive lighting market?

What is the breakup of the global automotive lighting market based on the technology?

What is the breakup of the global automotive lighting market based on the vehicle type?

What is the breakup of the global automotive lighting market based on sales channel?

What is the breakup of the global automotive lighting market based on the application?

What are the key regions in the global automotive lighting market?

Who are the key players/companies in the global automotive lighting market?