Press release
Automotive Ambient Lighting Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
The Business Research Company offers in-depth market insights through Automotive Ambient Lighting 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 ambient lighting market size has grown strongly in recent years. It will grow from $3.92 billion in 2023 to $4.3 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to luxury car segment growth, increasing focus on interior aesthetics, rising disposable income, rising trend of night driving, consumer preference for customization.
The automotive ambient lighting market size is expected to see strong growth in the next few years. It will grow to $6.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to electrification of vehicles, shift towards autonomous vehicles, rise of shared mobility, globalization of automotive markets, increased urbanization. Major trends in the forecast period include dynamic ambient lighting, health and well-being integration, AR/VR integration, ultra-thin lighting design, subscription-based lighting packages.
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Market Segmentation:
The automotive ambient lighting market covered in this report is segmented -
1) By Product: Dashboard Lights, Ambient Lighting, Head-up Display, Reading Lights
2) By Technology: Halogen, LED, Xenon
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles, Heavy Commercial Vehicles
Major Driver - The Impressive Surge In High-End Luxury Car Sales
The growth of high-end luxury car sales is expected to propel the automotive lighting market. High-end luxury cars are vehicles with high-quality interiors and many features that are not found in normal cars. The increasing demand for high-end luxury cars resulted in the use of innovative and technologically advanced ambient lights to enhance the safety and security features of luxury cars. For instance, according to a sales report published in January 2022 by Germany-based Mercedes-Benz, a luxury vehicles company, Mercedes-Benz's plug-in hybrid and electric passenger car deliveries reached a new high of 227,458 units (+69.3 percent), with 48,936 Mercedes-EQ battery electric passenger cars (BEV) (+154.8 percent) from 2021. Therefore, the increase in luxury vehicle demand will drive the automotive ambient lighting market.
Competitive Landscape:
Major companies operating in the automotive ambient lighting market report are Robert Bosch GmbH, General Electric Company, Panasonic Corporation, Continental AG, Magna International Inc., Flex Ltd., Valeo SA, Lear Corporation, Texas Instruments Incorporated, Koninklijke Philips NV, Tenneco Inc., Parker Hannifin Corporation, Dräxlmaier Group, Koito Manufacturing Company Limited, Osram Licht AG, Gentex Corporation, ZKW Group GmbH, Varroc Lighting Systems SP Z.o.o, Stanley Electric Company Limited, Trilux GmbH & Co. KG, LSI Industries Inc., Innotec Group, Lumileds Holding B.V., Magneti Marelli SpA, Diode Dynamics LLC, Ambright GmbH, Oshino Lamps Limited, Pianfei Solano company, EFI Lighting SAS, Hella KGaA Hueck & Co., CML Innovative Technologies Ltd., Dominant Opto Technologies Sdn. Bhd., Grote Industries LLC, J.W. Speaker Corporation, Lite-On Technology Corporation, NXP Semiconductors N.V.
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Top Trend - Marelli Holdings Unveils Groundbreaking H-Digi Microled For Automotive Front Lighting
Major companies in the automotive lighting market are focusing on product launches, such as microLED, aimed at a wider range of vehicles. MicroLED in automotive lighting refers to cutting-edge technology that utilizes miniature light-emitting diodes to achieve advanced functionalities, including dynamic adaptive lighting, high-resolution illumination, and enhanced safety features in vehicles. For instance, in July 2023, Marelli Holdings, a Japan-based company that designs and manufactures components for the automotive industry, launched h-Digi microLED-a groundbreaking innovation in automotive front lighting, introducing a digital lighting solution. This product introduces features such as intelligent multipixel LEDs, matrix illumination, affordability, and the EVIYOS 2.0 light source. The innovative h-Digi microLED enhances automotive lighting by providing fully adaptive, dynamic headlight operation, high-resolution options for various driving conditions, and safety-focused features like glare-free high-beam block-out zones, contributing significantly to the evolution of the automotive lighting market.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Ambient Lighting Market Characteristics
3. Automotive Ambient Lighting Market Trends And Strategies
4. Automotive Ambient Lighting Market - Macro Economic Scenario
5. Automotive Ambient Lighting Market Size And Growth
…..
27. Automotive Ambient Lighting Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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