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Automotive Lighting Market by Vehicle Type (2-Wheelers, Passenger Vehicles, Commercial Vehicles), Application (Interior, Exterior (Headlamps, Fog Lamps, Tail lights)), Lighting Technology (Halogen, Xenon, LED), and Geography - Global Forecasts to 2030
Report ID: MRAUTO - 104788 Pages: 300 Jun-2024 Formats*: PDF Category: Automotive and Transportation Delivery: 24 to 72 Hours Download Free Sample ReportSome of the major factors driving the growth of this market are the increasing adoption of advanced lighting in vehicles, strict government regulations on lighting for better visibility and safety, and increasing automobile production in emerging economies. In addition, the high demand for adaptive lighting systems in passenger and entry-level SUVs is expected to offer significant opportunities for market growth. However, the high cost of LED can restrain the growth of this market to some extent.
Lighting remains a significant component in vehicles. Apart from adding aesthetic looks to the interior and exterior parts of a vehicle, lighting plays an important role in vehicle safety. Vehicle lighting is essential, especially while traveling on congested highways. All automotive lighting of a vehicle is subject to country-specific legal regulations to ensure safe driving.
Governments around the world are concerned about road accidents. According to the World Health Organization (WHO), road traffic collisions kill 1.3 million people per year. The majority of countries lose 3% of their GDP due to road accidents. Therefore, enhancing driving conditions is vital, which can be achieved partly by improving the lighting system. Using vehicle lights helps the driver illuminate the lane and recognize the road, obstacles and traffic signs.
Automotive lighting is already mandatory in several countries across the globe. For instance, in the U.K., vehicles traveling from sunset to sunrise must have front and rear position lights, end outline lights and side marker lights switched on. All the obligatory lights (except rear fog lights) must be illuminated during the hours of darkness. Similarly, Daytime Running Lights (DRLs) are mandatory for all two-wheelers in India to increase road safety and reduce road accidents involving two-wheelers. This type of regulatory regulation is likely to impact the growth of the global automotive lighting market.
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Based on vehicle type, the automotive lighting market is segmented into 2-wheelers, passenger vehicles, and commercial vehicles. In 2024, the passenger vehicles segment is expected to account for the largest share of the global automotive lighting market. Over the past few decades, global passenger car traffic has increased drastically, which has upsurged the demand for passenger car lighting across the globe. According to Organisation Internationale des Constructeurs d'Automobiles (OICA), there were 57,054,295 passenger cars produced globally in 2021. In addition, several passenger car manufacturers have started adopting adaptive lighting techniques to enhance vehicle appearance and improve the business growth of smart automobile lighting systems.
Based on application, the automotive lighting market is segmented into interior lighting and exterior lighting. In 2024, the exterior lighting segment is expected to account for the largest share of the global automotive lighting market. Stringent government regulations for automotive lighting are contributing to the large market share of this segment. In addition to the legal regulations, branding and aesthetics also play an important role in the growth of this segment.
Based on geography, the global automotive lighting market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the automotive lighting market. The Asia-Pacific region comprises rapidly emerging economies such as China and India and developed nations such as Japan and South Korea, which are considered among the largest automotive manufacturing markets.
In recent years, the region has emerged as a hub for automobile production as several technological advancements have been developed and incorporated in automobiles by the OEMs in Asia-Pacific. Increasing technological advancement in lighting, continuous increase in automotive production, and stringent government rules & standards are some of the factors supporting the large share of this market.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by the leading market participants in the automotive lighting market between 2020 and 2022. The key players profiled in the automotive lighting market report are KOITO MANUFACTURING CO., LTD (Japan), Stanley Co., Inc. (U.S.), Valeo (France), Marelli Holdings Co., Ltd. (Italy), HELLA GmbH & Co. KGaA (Germany), Tungsram (Hungary), Lumax Industries (India), OSRAM GmbH (Germany), Koninklijke Philips N.V. (Netherlands), ZIZALA Lichtsysteme GmbH (Austria), Robert Bosch GmbH (Germany), ICHIKOH INDUSTRIES, LTD. (Japan), Continental AG (Germany), Hyundai Mobis (South Korea), Varroc Group (India).
Scope of the report:
Key questions answered in the report:
The Automotive Lighting Market focuses on lighting systems in vehicles, including headlights, taillights, and interior lights, essential for safety and aesthetics.
The Automotive Lighting Market is projected to reach $31.45 billion by 2030, reflecting significant growth from the current value driven by advanced lighting technologies.
Forecasted to grow at a CAGR of 5.1% from 2024 to 2030, the Automotive Lighting Market is set to expand significantly, driven by advancements in vehicle lighting technologies.
Valued at approximately $31.45 billion by 2030, the Automotive Lighting Market is experiencing robust growth, with a CAGR of 5.1% from 2024 to 2030.
Major players include KOITO MANUFACTURING, Stanley Co., Valeo, Marelli Holdings, HELLA, Tungsram, Lumax Industries, OSRAM, Philips, ZIZALA, Bosch, ICHIKOH, Continental AG, Hyundai Mobis, and Varroc Group.
The market trend highlights increasing adoption of advanced lighting technologies, strict safety regulations, and rising demand for adaptive lighting in various vehicle segments.
Key drivers include the adoption of advanced lighting technologies, stringent safety regulations, rising automobile production, and growing demand for adaptive lighting systems.
Segments include vehicle types (2-wheelers, passenger vehicles, commercial vehicles), applications (interior, exterior), technologies (halogen, xenon, LED), and sales channels (OEM, aftermarket).
The global outlook is positive, with significant growth expected in various regions due to technological advancements, increasing automotive production, and regulatory pressures on lighting standards.
The market is set to grow at a CAGR of 5.1% from 2024 to 2030, driven by technological innovations, regulatory demands, and increasing vehicle production and sales.
The Automotive Lighting Market is projected to grow at a CAGR of 5.1% from 2024 to 2030, reflecting strong expansion driven by advancements and increasing demand for lighting systems.
The Asia-Pacific region holds the highest market share, driven by rapid automotive production growth, technological advancements, and significant investments in lighting technology.
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