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Automotive Ambient Lighting Market Growth Rate, Statistics, Top Major Players And Forecast 2033
Automotive Ambient Lighting Market Growth
As per the report, 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 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%.
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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.
Tech Innovations Propel Automotive Ambient Lighting Trends
Technological advancements have emerged as the key trend gaining popularity in the automotive ambient lighting market. Major automotive lighting companies are introducing technologically advanced lights to reinforce their position in the market. For instance, in May 2022, Hella KGaA Hueck & Co., a Germany-based manufacturer of lighting, electronic components, and systems, launched a combination of lighting solutions and sensor technology that adds intelligence to the vehicle, improving comfort, well-being, and safety. This new smart HELLA Slim Light System supports communication between occupants and vehicle, setting the tone for the interior while enabling wide-area lighting.
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
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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.
Contents of the report:
1. Executive Summary
2. Automotive Ambient Lighting Market Report Structure
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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