Press release
2025-2034 Automotive LED Lighting Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Automotive LED Lighting Market
What Is the Expected CAGR for the Automotive LED Lighting Market Through 2025?
The market size of automotive led lighting has seen substantial growth in the past years. It is projected to increase from $19.9 billion in 2024 to $21.04 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. Factors such as consumer demand, environmental issues, enhanced performance, decreased costs, safety, and visibility have contributed to the growth during the historical period.
What's the Projected Size of the Global Automotive LED Lighting Market by 2029?
In the upcoming years, the automobile led lighting market is predicted to see a robust increase in size. It is projected to reach a market value of $27.19 billion in 2029, with a compound annual growth rate (CAGR) of 6.6%. This growth is due to various factors, such as advancements in self-driving cars, innovative adaptive lighting, the increasing popularity of electric vehicles (EV), demand for interconnected vehicles, and an increased emphasis on energy efficiency. Notable trends for the forecasted period include the adoption of OLED technology, the emergence of electric and hybrid vehicles, design and form factor innovations, the focus on sustainability and efficiency, and improved safety features.
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Top Growth Drivers in the Automotive LED Lighting Industry: What's Accelerating the Market?
The rise in worldwide traffic mishaps is predicted to boost the expansion of the automotive LED lighting market. Traffic mishaps typically denote injuries from vehicular crashes, either partial or complete, on public roads and are a primary source of fatalities. Automotive LED lighting enhances a vehicle's road visibility, making it more noticeable to others, help avoid direct collisions due to low visibility. For example, a report from the Centers for Disease Control and Prevention (CDC), a US-based national public health agency, revealed that around 1.35 million people are killed every year in road accidents around the globe, according to statistics from January 2023. Furthermore, nearly 3,700 people die daily worldwide in crashes involving unsafe vehicles, such as those without LED lighting. As a result, the surge in global traffic accidents fuels the growth of the automotive LED lighting market.
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What Are the Key Trends Driving Automotive LED Lighting Market Growth?
Notable developments in technology play a vital role in influencing trends within the automotive LED lighting industry. Industry leaders in the automotive LED lighting market are continuously rolling out state-of-the-art products to preserve their market standing. For example, in October of 2022, Hyundai Mobiles, an automotive parts supplier from South Korea, unveiled a novel 'Lighting grille' feature powered by LED lighting. This innovative technology offers a mobile grille equipped with active flaps to facilitate superior aerodynamics and engine cooling. It showcases distinctive capabilities such as auto-drive mode and the ability to display a variety of scenarios like autonomous driving mode, EV charging mode, welcome light, and emergency warning light, setting it apart from other tech products.
What Are the Main Segments in the Automotive LED Lighting Market?
The automotive led lighting market covered in this report is segmented -
1) By Propulsion Type: Internal Combustion Engine (ICE), Electric, Other Propulsion Types
2) By Vehicle Type: Passenger Car, Light Commercial Vehicle (LCV), Bus, Other Vehicle Types
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
4) By Application: Exterior Lighting, Interior Lighting
Subsegments:
1) By Internal Combustion Engine (ICE): Halogen Replacements, Xenon Replacements, Standard LED Applications
2) By Electric: Battery Electric Vehicles (BEVs), Plug-In Hybrid Electric Vehicles (PHEVs)
3) By Other Propulsion Types: Hybrid Vehicles, Fuel Cell Vehicles
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Which Top Companies are Driving Growth in the Automotive LED Lighting Market?
Major companies operating in the automotive LED lighting market include Hella KGaA Hueck & Co., Koito Manufacturing Co. Ltd., Marelli Holdings Co. Ltd., Osram Licht AG, Stanley Electric Co. Ltd., Valeo, ZKW Group, Magneti Marelli S.p.A, Mercedes-Benz, Samsung Electronics Co. Ltd., Toyota Motor Corporation, Changzhou Xingyu Automotive Lighting System Co. Ltd., Everlight Electronics Co. Ltd., LG Electronics Inc, Nichia Corporation, Seoul Semiconductor Co. Ltd., SL Corporation, General Electric Company, Koninklijke Philips N V, Hyundai Mobis Co. Ltd., Denso Corporation, Grupo Antolin, Continental AG, Varroc Lighting Systems, DEPO Auto Parts Ind Co. Ltd., Flex-N-Gate Corporation, Lumax, Guangzhou Loyo Electronic Factory, TYC Brother Industrial
Which Regions Will Dominate the Automotive LED Lighting Market Through 2029?
North America was the largest region in the automotive LED lighting market in 2024. The regions covered in the automotive LED lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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