According to a new market research report titled, "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," the automotive lighting market is projected to reach $31.45 billion by 2030, growing at a CAGR of 5.1% from 2023 to 2030.
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Automotive lighting is crucial for road safety, enhancing visibility for drivers and making vehicles more noticeable to other road users. This market growth is driven by several factors including the adoption of advanced lighting technologies, stringent government regulations for vehicle lighting, and increasing automobile production in emerging economies.
Significant opportunities for market growth are expected from the high demand for adaptive lighting systems in passenger vehicles and entry-level SUVs. However, the high cost of LED technology may constrain market growth to some extent.
Key Market Segments:
Vehicle Type:
- 2-Wheelers
- Passenger Vehicles
- Commercial Vehicles:
- Trucks (Semi Trucks, Box Trucks, Pickup Trucks)
- Vans (Cargo Vans, Passenger Vans)
- Buses (Passenger Buses, Motor Coaches and RVs)
- Specialty Vehicles
- Heavy Equipment (Construction, Mining, Agriculture)
- Other Commercial Vehicles
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Application:
- Interior Lighting: Ambient Lighting, Footwell Lights, Roof Lights, Other Interior Lightings
- Exterior Lighting: Headlamps, Fog Lamps, Tail Lights, Daytime Running Lights (DRLs), Other Exterior Lightings
Lighting Technology:
- Halogen
- Xenon
- LED
- Other Lighting Technologies
Sales Channel:
- OEM
- Aftermarket
Market Insights:
Geography:
- North America: U.S., Canada
- Europe: U.K., Germany, France, Italy, Spain, Denmark, Netherlands, Rest of Europe
- Asia-Pacific: China, India, Japan, South Korea, Singapore, Rest of Asia-Pacific
- Latin America: Brazil, Mexico, Rest of Latin America
- Middle East & Africa: Israel, UAE, Rest of Middle East & Africa
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In 2023, the passenger vehicles segment is expected to hold the largest market share, driven by the increasing middle-income population, adoption of advanced lighting, and rising passenger car production globally. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), 57,054,295 passenger cars were produced worldwide in 2021. The LED lighting technology segment is also anticipated to dominate, due to its energy efficiency, longevity, and increasing use in intelligent lighting applications.
Regional Insights: Asia-Pacific is projected to hold the largest market share and exhibit the highest CAGR over the forecast period, driven by rising vehicle production, growing demand for autonomous and luxury vehicles, and stringent lighting regulations.
Key Market Players:
Leading companies in the automotive lighting market include 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), and Varroc Group (India).
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