Global Automotive Interior LED Lighting Market is forecasted to Gain Steady Growth at a CAGR of 2.9% through 2022

Strong economic growth across emerging markets has put them firmly on the path of achieving developed market status in the next few decades. The 21st century has seen key stakeholders in the automotive industry work with innovative new technologies that have been incorporated into the vehicles, the most prominent one being automotive interior LED lighting systems. Entering the automotive interior LED lighting market is thought to be a blue ocean strategy as there are relatively few companies involved, allowing stakeholders to raise product prices. Fact.MR’s report offers detailed analysis about the global automotive interior LED lighting market for the period 2017-2022, and offers actionable insights on future market direction.

The scope of the report is to analyze the global automotive interior LED lighting market for the period 2017-2022 and give readers an accurate, unbiased analysis. Automotive interior LED lighting manufacturers, suppliers, and stakeholders in the overall automotive industry can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.

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5 Projections on Automotive Interior LED Lighting Market

1. The high price of automotive interior LED lighting made compact carmakers shy away from this technology for some time. However, the consumer demand has compelled them to incorporate it in their products and this segment now contributes nearly a third of the revenue share in the automotive interior LED lighting market. Compact cars are extremely popular in Europe and APEJ and both these regions are anticipated to cross US$ 50 million by the end of the forecast period

2. The mid-sized segment represents a quarter of the revenue share by vehicle type in the automotive interior LED lighting market. This segment is likely to be worth almost US$ 165 million by end 2022, making it imperative for key stakeholders to target it. On the other hand, the premium passenger car segment has a marginal contribution to the automotive interior LED lighting market and it is likely to decline over the study period

3. Commercial vehicles are usually not the first that come to mind when one thinks of the automotive interior LED lighting market. Nonetheless, the light and heavy commercial vehicle segment combined have a revenue share slightly over a quarter of the automotive interior LED lighting market. Therefore, major players in the automotive interior LED lighting market can ignore this vital segment at their own peril

4. The 12V segment dominates the automotive interior LED lighting market with a revenue share nearing 2/3rd in term of volts. A market opportunity just under US$ 440 million in 2022 should be large enough for all the companies to compete in. The 14V segment occupies the balance 1/3rd revenue share. Companies would do well to focus on Europe and APEJ in the 14V segment of the automotive interior LED lighting market

5. The dashboard light segment is the most important in the automotive interior LED lighting market by product type and should remain so for the foreseeable future. The dashboard is usually the first touch point for vehicle occupants and it makes sense for manufacturers to embellish it with attractive LED interior lighting. Both APEJ and Europe are on track to push past US$ 50 million in end 2022 and companies in the automotive interior LED lighting market are advised to take this into consideration

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Ambient Lighting a Close Second in Automotive Interior LED Lighting Market

The ambient lighting segment represents a quarter of the revenue share in the automotive interior LED lighting market. Ambient lighting across the vehicle dramatically transforms its look, making it very appealing to customers. Once reserved for luxury and premium passenger cars, it has slowly but surely made its way to compact cars as well. Companies may wish to target the North America ambient lighting market as the continent is predicted to record the highest CAGR of 3.8% from 2017 to 2022.

Heads-Up Display a Niche in the Automotive Interior LED lighting market

A heads-up display as its name suggests, provides all the necessary information that occupants could possibly need directly on the windscreen and it is typically on the driver’s side. This is largely the preserve of high end premium and luxury vehicles which is why Europe contributes the largest share to the heads-up display market in the automotive interior LED lighting market. The continent has a longstanding heritage in luxury cars and this segment is on track to exceed US$ 6 million by the end of the forecast period.

Competition Tracking

The Fact.MR report on the automotive interior LED lighting market has analyzed the major players that compete in the automotive interior LED lighting market. Some of them are HELLA KGaA Hueck & Co, OSRAM Licht AG, Magneti Marelli Spa, Koito Manufacturing Co., Stanley Electric, Koninklijke Philips N.V, Valeo SA, Ichikoh Industries Ltd, Changzhou Xingyu Automotive Lighting Systems Co., and Texas Instruments.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized automotive market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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This release was published on openPR.