Automotive Lighting Market Size, Share, Growth, Analysis by 2022

The Automotive Lighting Market is projected to grow at a CAGR of 6.80% from 2017 to 2022 and is expected to reach USD 29.97 Billion by 2022.

The Automotive Lighting Market is majorly driven by increasing vehicle production and increasing lighting applications, especially in passenger cars. Additionally, factors such as passenger and pedestrian safety regulations and increased demand for luxury, comfort, and ambiance are driving technological advancements in the automotive lighting industry.

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The Automotive Lighting Market ecosystem consists of manufacturers and Tier 1 suppliers such as Hella KGaA Hueck & Co. (Germany), Osram (Germany), Magneti Marelli (Italy), Koito Manufacturing Co., Ltd (Japan), and Stanley Electric (Japan); OEMs such as Volkswagen Group (Germany), Mercedes-Benz (Germany), Ford (U.S.), Hyundai (South Korea), Toyota (Japan), TATA (India), and Mahindra and Mahindra (India).

“Automotive front lighting to be the largest segment“

The study considers four lighting positions in a vehicle for the estimation of the market size, namely, front, rear, side, and interior. The front lighting market is projected to constitute the largest lighting market, by value, in 2022. Driver safety and advanced features such as auto on/off and auto-leveling are some of the adaptive lighting solutions that are gaining popularity in the front lighting segment. Halogen is presently dominating the front lighting segment. However, owing to benefits such as operation at a lower temperature, low energy consumption, and freedom to design, advanced technologies such as LED projector headlamps are gaining popularity in recent years. Laser technology is new to the market and is gaining popularity owing to its bright illumination.

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“Interior lighting segment to grow at the fastest pace in the Lighting market for Automotive”

With the increase in the use of LED lights for interior applications, the segment has increasingly grown in vehicles across the globe. OLED lighting offers design flexibility and can be used even for minute lighting solutions. With such technological advancement, it has become possible for the manufacturer to offer advanced lighting solutions such as mood lighting. Hence, with technological and design modifications, the interior lighting market is expected to be the fastest-growing market.

“Growing markets like China and India to drive the lighting market for the automotive industry”

China and India together contribute 35% of the global vehicle production and approximately 34% of the global passenger car production. Owing to increasing vehicle production, the demand for automotive lighting will also increase in the region. The lighting market for exterior applications is estimated to be the largest market in the region and halogen technology will have the largest share.

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Target Audience:

Manufacturers of automotive lighting systems
*Lighting component suppliers
*Dealers and distributors of automotive lighting systems
*Original equipment manufacturers
*Industry associations, investment firms, equity research firms, and private equity firms

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