Automotive Interior LED Lighting Market Will Reach A Global Valuation Of US$ 53.88 Billion By The End Of 2032

Global Automotive Interior LED Lighting Industry Outlook in 2022 and Beyond
The Automotive Interior LED Lighting industry is looking forward to 2021 with a sense of optimism. In 2020, Automotive Interior LED Lighting sales recovered in the last quarter to salvage lost momentum during March-April 2020. And, as vaccine rollout gains momentum, most automakers are hoping for better performance in 2021.

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Key Segments Covered in the Automotive Interior LED Lighting Market

By Product

Dashboard Lights
Ambient Lighting
Dome and Map Lighting
Center Stack
Head-up Display
Reading Lights

By Vehicle Type

Compact Passenger Cars
Mid-sized Passenger Cars
Premium Passenger Cars
Luxury Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

By Volts

12V
14V

By Sales Channel

OEM
After Market

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Competitive Landscape

There are a number of key players in the automotive lighting market, including Koito Manufacturing, Magneti Marelli, Valeo Group, Stanley Electric, Lumax Industries, Hella, Zizila Lichtsysteme, Tungsram and Osram. In addition to forming joint ventures, companies are expanding their global footprint. Examples include:

Valeo announced its entry into the dynamic LED lighting market by announcing the acquisition of 10.5% of the shares of Aledia, a high-tech startup company focused on designing cutting-edge LED lighting for general and automotive use.
The Koito Automotive Company has inaugurated the Hubei Koito Automotive Lamp Co., Limited plant in China.
A new automotive lighting solution called Rallye was introduced by Osram India in 2017. It can be used in two-wheelers, four-wheelers, as well as commercial vehicles. Products are manufactured at Osram's German and Chinese plants.
US Automotive Interior LED Lighting Industry Set to Recover in 2022

In 2020, US Automotive Interior LED Lighting sales were to the tune of 17.1 million. The outbreak of COVID-19 in early 2020, and subsequent shutdown created apprehensions that 2020 may be the worst year for US auto industry since Great Depression.


However, Automotive Interior LED Lighting sales climbed back slowly in US, partly helped by a quick shift to online sales. Many US automakers are now investing highly in online sales channel, with 2021 expected to witness high online sales.


As per early success of vaccine inoculation and consumer receptivity toward online sales, it is highly likely that 2021 will be a better year for sales. Total Automotive Interior LED Lighting sales in US are likely to be in the range of 15.5 million to 16 million.

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Europe Automotive Interior LED Lighting Market Players Can Benefit from Foreign Exports

The Europe automobile market is also likely to witness a recovery in 2021. The European Automobile Manufacturers' Association is hoping for a 10% increase in sales.



As is the case in US, European auto industry is hoping that vaccine inoculation brings the pandemic under control. Many countries in Europe have witnessed severe waves of COVID-19 pandemic, and are now in recovery phase.


While the domestic Automotive Interior LED Lighting demand is likely to recover at a steady pace in Europe, exports to China, Latin America, and Asia Pacific are likely to induce momentum for European auto companies.

China will Further its Lead as World's Largest Automotive Interior LED Lighting Market


The Automotive Interior LED Lighting industry in China represents the brightest optimism for any country globally. The pandemic recovery in China is at an advanced stage as compared to western countries. Further, the government in China is focusing on a massive infrastructure push, which is likely to help automakers exporting their wares to China.


China is the only major economy to have grown in 2020, and country's China Association of Automobile Manufacturers is forecasting 26 million sales in 2021. Volkswagen Group and General Motors are likely to maintain their position as the country's largest foreign automakers.


China is the world's largest automobile market, and going by the economic scenario and COVID-19 recovery, the country is likely to remain at numero uno position in the future as well.


Indian Automotive Interior LED Lighting Outlook Subdued by COVID-19 Resurgence

The Indian automobile industry is beset with challenges arising due to a nation-wide second wave of COVID-19 epidemic. Things were looking up for the Indian automobile industry, however, lockdown measure to contain a more virulent COVID-19 can dent overall sales in 2021.


The localized restrictions imposed by governments can have an impact on dealership activity, logistics, and in-showroom consumer visits. Also, it is anticipated that India may have to brace up for further waves of COVID-19, which can dent consumer sentiment.

Key Long-term Trends

Overall, the Automotive Interior LED Lighting industry is looking for a recovery year in 2021. While China is anticipated to take the lead, healthy recovery in US and Europe markets will create necessary impetus. Amidst the recovery phase, there will be some mega trends and some subtle trends that will have a bearing on Automotive Interior LED Lighting market in the long run. These include,


Automotive Interior LED Lighting digital retail
Automotive Interior LED Lighting digital retail will make further inroads in 2021. As localized restrictions and consumer discretion increase due to COVID-19, more consumers are opening up to the idea of online automobile purchase. This trend is likely to become stronger in 2021, especially in US and Western Europe


Further gains in connected and autonomous cars
Connected and autonomous cars may have lost some of their momentum in 2020, but their long-term forecast remains bullish. Automakers are increasingly aware of the white space Silicon Valley giants are eyeing. In the long run, an increase in proprietary software of partnership with tech companies will be in the offing.


Electric vehicle sales will continue unabated
The sales of electric vehicles have grown from strength to strength, dispelling the skepticism and early apprehensions. The focus now is on developing a scalable production model and enough charging stations so consumers are confident of investing in the technology of tomorrow.


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