Automotive Light Emitting Diode (LED Market 2023 Driving Factors Forecast Research 2029

Automotive LED Market is anticipated to grow at a CAGR of 7.3% during the forecast period (2023-2030). Automotive LED is essential in cars to improve the vision of drivers which helps for detecting uneven road tracks, other vehicle movements, and road hazards. Globally increasing production and sale of vehicles is the driving factor of the global automotive LED market For Instance, China continues to be the world's largest vehicle market by both annual sales and manufacturing output, with domestic production expected to reach 35 million vehicles by 2025. According to the International Trade Administration (ITA), over 26 million vehicles were sold in 2021, including 21.5 million passenger vehicles, an increase of 7.1% from 2020. Commercial vehicle sales reached 4.8 million units, down 6.6% from 2020. Improvement in lifestyle with the purchasing power of consumers is a changing preference that has positively impacted the sale of premium cars with the increasing demand for premium segment cars the automotive LED market also transforming and launching advanced lighting technology and providing better lighting performance and improved energy efficiency that Consume less power and have long service life then other lights for instance, Hyundai Mobis had developed 'lighting grille' technology, which implements an LED lighting function in the front grille of the car. This helps determine the first impression and also integrates the other new 'grille integral active air flap' technology. on High performance and high standards, lighting electronics feature a high-performance 32-bit chip for these diverse tasks Continental pursues a platform strategy comprising ASIC and ASSP solutions that are under advanced development in close collaboration with semiconductor manufacturers. Due to their integration into assistance systems and the AUTOSAR operating system, LED light control units also require higher functional safety standards and are certified by ISO 26262 for safety class ASIL B.

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The global automotive LED Market is segmented based on vehicle type, position, and propulsion type. Based on vehicle type, the market is sub-segmented into passenger vehicles, and commercial vehicles. Based on position, the market is sub-segmented into front, rear, side, and interior. Based on propulsion type, the market is sub-segmented into ICE, electric, and others (hybrid). Among the propulsion type, the electric sub-segment is projected to grow at a exponential CAGR during the forecast period owing to thw rising demand for electric vehicles (EVs) along with several government initiatives to adopt electric cars.

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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global Automotive Light Emitting Diode (LED) Market by Vehicle Type
o Passenger Vehicle
o Commercial Vehicle

Global Automotive Light Emitting Diode (LED) Market by Position
o Front
o Rear
o Side
o Interior

Global Automotive Light Emitting Diode (LED) Market by Propulsion Type
o Internal Combustion Engine (ICE)
o Electric
o Others (Hybrid)

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World

Company Profiles
o Continental AG
o General electric company
o Hyundai Mobis Co., Ltd.
o Koninklijke Philips N.V
o Magneti marelli S.P.A
o Namyung Lighting Co., Ltd.
o Nichia corporation
o OSRAM GmbH
o Seoul Semiconductor Co., Ltd.
o Texas Instruments Inc.
o VALEO
o Varroc Engineering Ltd.
o ZKW

The Report Covers
• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global automotive LED Market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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