Press release
Automotive Interior Surface Lighting Market will reach the US$ 5 Bn mark in 2029
Report OverviewA recently published report of Persistence Market Research (PMR) suggests that the "global automotive interior surface lighting market will reach the US$ 5 Bn mark in 2029 end, witnessing a healthy CAGR during 2019 - 2029″.
This report provides in depth study of "Automotive Interior Surface Lighting Market" using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization.
The Automotive Interior Surface Lighting Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
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Increasing consumer preference for value-added features in vehicles that offer a fine balance of functionality and aesthetic appeal is primarily fueling the growth of automotive interior surface lighting market. While luxury cars are experiencing a surge in demand in North America, Europe, and Asia Pacific, the demand for automotive interior surface lighting will continue to soar in the following years.
End users are inclined towards spending more on maintaining high-end vehicle ambience, which would remain among the key factors boosting the demand for automotive interior surface lighting solutions.
Key Takeaways
A key trend witnessed in the automotive interior surface lighting market is the incorporation of smart connect technology via Bluetooth or Wi-Fi, known as wireless operated interior surface lighting.
Manufacturers are focusing on partnerships with car body modifiers (interior & exterior) in the aftermarket as these modifiers can significantly boost growth of the automotive interior surface lighting market. Additionally, key players are involved in designing vehicle specific interior ambient lights that enhance automotive interior aesthetics.
Lights guides are gaining traction in the global automotive interior surface lighting market due to its optimum cost and easy installation
In the passenger cars segment, luxury vehicles sub-segment is expected to dominate the market, and hold more than 50% of the market share of passenger car interior surface lighting in the forecast period.
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Aesthetics of a vehicle, comfort of the driver, and decreased driving fatigue are some of the key benefits associated with automotive interior surface lighting. Key players are focused on providing extended warranty products at an optimum cost, which increases sales of companies in mid-size and compact cars category.
Market Landscape Moving Towards Consolidation
The automotive interior surface lighting market is heavily technology-driven and is dominated by a handful of players with extensive R&D capabilities, brand image, and strong market presence. manufacturers in the global automotive interior surface lighting market:
• Yanfeng Automotive Interiors
• Valeo SA
• HELLA KGaA Hueck & Co
• Everlight Electronics Co
• OSRAM Licht AG,
• LSI Industries Inc
• Efi lighting
• Toshiba Corporation
• Innotec Group
• DRÄXLMAIER Group
• Oshino Lamps Limited,
• Grupo Antolin
• ZKW Group GmbH
• DOMINANT Opto Technologies
• OptoElectronix, Inc.
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Partnerships with lighting technology providers and automotive component suppliers help them build on their product expertise and enhance market dominance.
Explore PMR's Extensive Coverage on Automotive Domain -
Automotive Kingpin Market - Automotive Kingpin Market Segmented By Passenger Vehicle, Commercial Vehicle, OTR (Off The Road) Vehicle and Farm Services Vehicle with Sales Channel such as OEM (Original Equipment Manufacturer) and Aftermarket: https://www.globenewswire.com/en/news-release/2022/05/09/2438696/0/en/Automotive-Kingpin-Market-is-estimated-to-expand-at-a-CAGR-of-4-4-from-2022-to-2032-Persistence-Market-Research.html
Electric Vehicles Market - Electric Vehicles Market Segmented By Hybrid Electric Vehicles, Plug-In Hybrid Electric Vehicles, Battery Electric Vehicles Technology with Stored Electricity, On Board Electric Generator Power Source in Passenger Cars, Commercial Vehicles, Two Wheelers: https://www.globenewswire.com/en/news-release/2022/05/03/2434763/0/en/Electric-Vehicles-Market-expected-to-witness-a-whopping-CAGR-of-over-25-between-2021-and-2031.html
Air Intake System Market - Air Intake System Market Segmented by Petrol Engines, Diesel Engines Type for Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles Type for OEM and Aftermarket: https://www.globenewswire.com/en/news-release/2022/04/20/2425625/0/en/Air-Intake-System-Market-is-predicted-to-reach-a-market-valuation-of-US-17-76-Bn-by-2032.html
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