Global Automotive LED Lighting Market Segments 2024, Forecast To 2033
5 Mar, 2024
The automotive LED lighting market has experienced strong growth, advancing from $18.84 billion in 2023 to $20.24 billion in 2024, with a CAGR of 7.4%. Historical growth is linked to consumer demand, environmental concerns, improved performance, cost reduction, and safety and visibility. The forecast period expects further growth to $26.6 billion in 2028, driven by advancements in autonomous vehicles, innovations in adaptive lighting, electric vehicle expansion, demand for connected cars, and a heightened focus on energy efficiency. Major trends include the adoption of OLED technology, the rise of electric and hybrid vehicles, design innovations, sustainability, and enhanced safety features.
Global Automotive LED Lighting Market Key Driver
The automotive LED lighting market is anticipated to grow due to the surge in global traffic accidents. Automotive LED lighting, crucial for enhancing visibility and preventing accidents, addresses the alarming statistics provided by the CDC, reporting 1.35 million annual road-related deaths. This technology is essential for minimizing risks associated with non-LED lighting vehicles, contributing to the automotive LED lighting market's growth.
Get A Free Sample Of The Global Automotive LED Lighting Market ReportGlobal Automotive LED Lighting Market Segments
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
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the automotive LED lighting market in 2023. The regions covered in the automotive led lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Automotive LED Lighting Industry Players
Hyundai Mobis; 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; Federal-Mogul 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
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AIOps Automotive LED Lighting Market Overview
Automotive LED lighting refers to specialized LED lighting in automobile vehicles that facilitate crystal clear light on traveling, energy efficient night visibility and a long-predicted lifetime lighting.
Automotive LED Lighting Global Market Report 2023 provides data on the global automotive led lighting market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive led lighting market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.