Global Automotive Lighting Market to Witness Astonishing Growth by 2028

The global automotive lighting market is anticipated to grow at a CAGR of 5.4% during the forecast period (2022-2028). The capacity of brake lights and indicators to inform passengers about vehicle presence and travel direction will grow the industry. LED lights consume less electricity and have a longer life than halogen and HID lights,that is why vehicle manufacturers are interested in incorporating them into their vehicles. Furthermore, LED lights are superior to all other forms of lighting technology in terms of endurance and strength, as well as high-quality light-emitting diodes.

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The companies in the market are adopting various strategies such as partnerships and new launches will is boosting the market growth. For instance, in 2018, Volkswagen collaborated with HELLA GmbH & Co. KGaA, and IQ.LIGHT LED headlamps would be developed. The IQ.LIGHT-LED Matrix Headlamps with 256 LEDs are used in the new luxury-class Touareg SUV. All of this is totally automatic in the Touareg due to the active 'Dynamic Light Assist,' that allows the LED Matrix Headlamps to adjust their light to the surroundings, topography, and traffic condition. The car recognizes whether it is in the city or on a country road, on the highway or off-road, as well as the location of other road users, using a variety of signals.

Additionally, in June 2021, Hyundai Mobis created new 'lighting grille' technology that incorporates an LED lighting function in a car's front grille. The 'lighting grille' technology developed by Hyundai Mobis allows the car's complete front grille to be used as a lighting device. It stands out for its capacity to handle a wide range of scenarios, such as autonomous driving, electric vehicle charging, welcome light, sound beat display, and emergency warning light display.

Moreover, vehicle lighting is extremely important, especially while traveling on congested roadways. Governments all across the globe are concerned about road accidents and taking various measures that boosts the market growth. The Canadian Vehicle Lighting Regulation that went into effect in September 2021, established new lighting regulations such as tail lights with daytime running lights (DRLs), side marker lights that switch on automatically in the dark, and dark dashboards that signal the driver to turn on lights.

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Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Light Type
By Vehicle Type
By Position
By Sales Channel
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- HELLA GmbH & Co. KGaA, KOITO MANUFACTURING CO., LTD., Marelli Holdings Co., Ltd., STANLEY ELECTRIC CO., LTD., VALEO GROUP, among others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Automotive Lighting Market Report by Segment

By Light Type

Halogen
Xenon/HID
LED

By Vehicle Type

Passenger ICE Vehicle
Commercial ICE Vehicle
Electric Vehicle

By Position

Front Lighting
Rear Lighting
Side Lighting
Interior Lighting

By Sales Channel

Original Equipment Manufacturers (OEMs)
Aftermarket

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This release was published on openPR.