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Global Automotive Light Emitting Diode (LED) Bulbs Market Comprehensive Study: Forecasted Market Size And Growth Rate | SG Automotive, Hella, KOITO, Magneti Marelli, OSRAM, Valeo, Stanley Electric Co. Ltd., Varroc Lighting Systems, Koninklijke Philips N.V
Automotive Light Emitting Diode (LED) Bulbs Market Trends
The Business Research Company offers in-depth market insights through Automotive Light Emitting Diode (LED) Bulbs Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive light emitting diode (led) bulbs market size has grown strongly in recent years. It will grow from $9.32 billion in 2023 to $10.23 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to energy efficiency awareness, regulatory standards, safety and visibility, aesthetics and design.
The automotive light emitting diode (led) bulbs market size is expected to see rapid growth in the next few years. It will grow to $15.1 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to electric vehicle (ev) growth, autonomous vehicles, smart lighting and connectivity, sustainability and green practices, advanced driver assistance systems (adas). Major trends in the forecast period include matrix led headlights, animated lighting, miniaturization, customization and personalization, lidar integration.
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Market Segmentation:
The main vehicle types of automotive light-emitting diode bulbs are passenger cars, light commercial vehicles, and heavy commercial vehicles. Light commercial vehicles are vehicles that are less than or equal to 3.5 tonnes of gross vehicle mass and are designed to transport goods or specialized equipment. Utility vehicles, panel vans, cab chassis vehicles, and goods vans are examples of light commercial vehicles. The automotive light-emitting diode bulb is used in front adaptive lighting, rear adaptive lighting, and ambient adaptive lighting that are distributed through OEM and aftermarket sales channels.
Major Driver - Technological Advancements In Automotive Light Emitting Diode (LED) Bulbs Market
Technological advancements in automotive light emitting diode (LED) technology are expected to drive automotive light emitting diode (LED) bulbs market growth. Some of the new technologies include µAFS LED headlights, bend lighting headlamps, and flexible OLED for vehicle lighting. For example, in January 2022, Magnachip Semiconductor Corporation, a Luxembourg-based designer and manufacturer of analog and mixed-signal semiconductor platform solutions, introduced its organic light-emitting diode display integrated circuit (OLED DDIC) to offer next generation OLED DDIC for automotive displays. The OLED DDIC is produced for automotive based on the 40 nm processs technology that are designed for center stack displays and instrument cluster displays to offer wide range of resolutions including FHD suited for both rigid and flexible OLED displays. Additioinally this next generation DDIC is made as an "all-in-one solution," which means that source drivers, gate drivers and timing controllers are integrated on a single chip which reduces the production cost.Thus, increasing technology adoption is expected to drive the demand for advanced growth of the automotive light emitting diode (LED) bulbs market products going forward.
Competitive Landscape:
Major companies operating in the automotive light emitting diode (led) bulbs market include SG Automotive, Hella, KOITO, Magneti Marelli, OSRAM, Valeo, Stanley Electric Co. Ltd., Varroc Lighting Systems, Koninklijke Philips N.V., Mercedes-Benz, Hyundai Group, Toyota Motor Corporations, Zizala Corporations, Automotive Lighting, Flextronics Automotive GmbH & Co. KG (formerly Sidler Automotive), Grupo Antolin, Irausa S.A., Ichikoh Industries Ltd., SL Corporation, NAOEVO, ZKW Group, Lumileds Holding B.V., General Electric, Cree Inc., Diode Dynamics, Morimoto, GTR Lighting, J.W. Speaker Corporation, Baja Designs, Vision X, Rigid Industries, KC HiLiTES, Anzo USA, Putco, Oracle Lighting, Auxbeam, Fahren, SEALIGHT, BEAMTECH, HIKARI, Lasfit
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Top Trend - The Growing Popularity Of Organic Light Emitting Diode (OLED) In Automotive Lighting
With increasing awareness about global warming and carbon emissions, customers are increasingly using Organic LED, whose emitting panels are made of organic material. They can also be color tuned and are used to make light panels. For instance, car manufacturers BMW and Audi are using OLED taillights due to their flexibility, efficiency, and homogeneity.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Light Emitting Diode (LED) Bulbs Market Characteristics
3. Automotive Light Emitting Diode (LED) Bulbs Market Trends And Strategies
4. Automotive Light Emitting Diode (LED) Bulbs Market - Macro Economic Scenario
5. Automotive Light Emitting Diode (LED) Bulbs Market Size And Growth
…..
27. Automotive Light Emitting Diode (LED) Bulbs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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