IMARC Group, a leading market research company, has recently releases report titled “Automotive Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive lighting market share, growth, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Automotive Lighting
Automotive lighting refers to the lighting systems and components integrated into vehicles to provide illumination for driving, signaling, and enhancing the visibility and aesthetics of vehicles. It comprises headlights, taillights, and turn signals, which indicate the change of direction and are typically located at the front and rear of the vehicle. It also consists of fog lights, which indicate the driver's intention to change direction and are typically located at the front and rear of the vehicle. It includes interior lighting like dome lights, map lights, and ambient lighting that illuminate the interior of the car for convenience and aesthetics. It is a primary contributor to road safety, reducing the likelihood of accidents and ensuring other drivers can anticipate your actions. It is integrated with modern technologies like light emitting diode (LED) and high-intensity discharge (HID) headlights, which provide brighter and more focused illumination, enhancing the ability of the driver to see obstacles and road signs.
How Big Is the Automotive Lighting Market?
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.
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What are the growth prospects and trends in the automotive lighting industry?
At present, the increasing demand for energy-efficient and sustainable lighting solutions, driven by global efforts to reduce carbon emissions and enhance fuel efficiency, represents one of the crucial factors impelling the growth of the market. Besides this, the rising purchase of electric vehicles (EVs) as a sustainable alternative to fuel-dependent cars is contributing to the market growth.
In addition, the growing proliferation of advanced driver-assistance systems (ADAS), which relies heavily on sensors, cameras, and smart lighting systems to enhance safety and functionality, is offering a favorable market outlook. Moreover, governing agencies of various countries are introducing and enforcing strict lighting regulations, requiring automakers to adhere to specific lighting standards.
These standards encompass areas, such as light output, beam patterns, and color temperature, with the aim of ensuring that vehicles are equipped with lighting systems that maximize visibility while minimizing glare and light pollution. Furthermore, automakers are capitalizing on the elimination of traditional engine components to introduce novel lighting concepts within the interior of vehicles, adding to the aesthetics and functionality.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
- Continental AG
- HELLA GmbH & Co. KGaA (Faurecia SE)
- Hyundai Mobis (Hyundai Motor Group)
- Koito Manufacturing Co. Ltd.
- Koninklijke Philips N.V.
- LG Electronics Inc.
- Lumax Industries Limited
- Marelli Holdings Co. Ltd.
- Osram Licht AG (ams AG)
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Stanley Electric Co. Ltd.
- Valeo
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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