Automotive Interior Ambient Lighting System Market Expected to Reach US$ 69.1 Billion by 2033, Driven by a Strong 6.41% CAGR Growth

The global automotive interior ambient lighting system market in 2022 was US$ 36.2 billion and is estimated to be US$ 37.23 billion in 2023. According to the Future Market Insights Market report, the interior ambient lighting system market is projected to expand at a CAGR of 6.41% between 2023 and 2033, totaling around US$ 69.1 billion by 2033.

Key Takeaways from the Market Study

-The global automotive interior ambient lighting system market in 2022 was US$ 36.2 billion.
-The automotive interior ambient lighting system market expanded with a year-on-year growth of 4.1% in terms of value in 2022 reaching a value of about US$ 3,066.0 million by 2022 end.
-The global business is anticipated to witness a considerable CAGR of 5.4% by value during the period between 2022 and 2030.
-East Asia automotive interior ambient lighting system market is the most prominent market, expanding at a CAGR of 5.6% by volume over the forecast period.
-The global automotive interior ambient lighting market expanded at a CAGR of 5.2% between 2018 and 2022.

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-China is projected to be one of the prominent markets in the Asia Pacific region with a value share of 68.9% of overall sales of automotive interior ambient lighting systems in East Asia in 2022. It is further expected to secure a CAGR of 6.9% during the forecast period.
-Japan holds a market share of 24.3%.
-India is predicted to capture a CAGR of 5.8%.
-Australia is estimated to record a CAGR of 5.12%.
-North America is a key market in the automobile interior ambient lighting system industry holding a market share of 52.8%.
-The United States holds a significant part in the region with a value share of 38.2%.
-Europe's large automotive market holds a market share of 45.4%.
-Germany also has Europe's high concentration of OEM factories with a value share of 33.2%.
-The United Kingdom holds a second position in the market region, which is expected to thrive at a CAGR of 4.12%.
LEDs are said to hold a prominent share of the market.
-The most preferred and dominant technology in the current scenario is the LED segment, which might remain in the similar position in the upcoming years with a market share of 62.1%.
-Aftermarket segment has the most preferred sales.
-Aftermarket segment is projected to expand at 5.1% CAGR by volume.
-Luxury vehicles are said to hold a leading position in the market.
-Luxury vehicles hold a market share of 39.8% in the market regions as they are synthesized for transporting passengers and are designed to seat more than five individuals.
-Centre console and dashboard is estimated to have significant demand in the market.
-Centre console and dashboard segment is expected to have the huge demand in the market with a value share of 47.88%

Growth in the trend of customization among customers is one of the key trends of the global automotive interior ambient lighting system market", comments a Future Market Insights Analyst.

Competitive Scenario

Key Players Profiled in the Market

Valeo SA
HELLA KGaAHueck& Co.
OSRAM Licht AG
LSI Industries Inc
Everlight Electronics Co., Ltd
Toshiba Corporation
DRÄXLMAIER Group.
Oshino Lamps Limited
Innotec Group
Grupo Antolin
DOMINANT Opto Technologies Sdn. Bhd

Recent Industry Development in the Global Automotive Interior Ambient Lighting System Market:

In June 2023, LSI Industries Inc. (Nasdaq: LYTS), a leading United States based manufacturer of commercial lighting and display solutions, announced that it has earned the opportunity to join the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitution.

Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global automotive interior ambient lighting system market providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the automotive interior ambient lighting system market is segmented based on major By Technology- (LED, Others), By Vehicle Type- (Compact, Sedan, Executive, SUV/MUV, Luxury, Sports, LCV, HCV), By Application- (Centre Console and Dashboard, Doors, Roof, Floor, Others), By Sales Channel - (OEM, Aftermarket), By Region- (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East and Africa)

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Automotive Interior Ambient Lighting System Market Segmentation

By Technology:

LED
Others

By Vehicle Type:

Compact
Sedan
Executive
SUV/MUV
Luxury
Sports
LCV
HCV

By Application:

Centre Console and Dashboard
Doors
Roof
Floor
Others

By Sales Channel:

OEM
Aftermarket

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
The Middle East and Africa

About the Automotive Division at Future Market Insights

The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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This release was published on openPR.