What Fueled The Previous Growth In The Automotive LED Lighting Market?
The automotive led lighting market has seen considerable growth due to a variety of factors.
• The market size for automotive LED lighting has experienced robust growth in the past few years. The market value is expected to increase from $19.9 billion in 2024 to $21.22 billion in 2025, displaying a compound annual growth rate (CAGR) of 6.6%. Factors such as consumer demand, environmental considerations, enhanced performance, reduced costs, safety, and increased visibility have contributed to the growth observed in the historical period.
What Can Be Expected from the Automotive LED Lighting Market Size In The Coming Years?
The Automotive LED Lighting market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for automotive LED lighting is projected to experience substantial growth over the coming years. It is anticipated that it will rise to $27.75 billion in 2029 with a compound annual growth rate (CAGR) of 6.9%.
The projected growth during this period can be ascribed to developments in self-driving vehicles, advancements in adaptive lighting, the proliferation of electric vehicles (EVs), demand for smart cars, and an increasing emphasis on energy efficiency. Some of the key trends predicted for this period are the adoption of OLED technology, the surge of electric and hybrid vehicles, innovations in the shape and design aspects, sustainability and efficiency, and improved safety features.
What Are the Critical Driver Fuelling The Automotive LED Lighting Market's Growth?
The automotive LED lighting industry is expected to benefit from the surge in global traffic accidents. Such mishaps typically occur on public roads and involve some level of physical injury and can potentially lead to fatalities. Automotive LED lighting enhances the visibility of vehicles on the road, making it easier for other motorists to spot them and avoid hazardous head-on collisions caused due to inadequate visibility. The Centers for Disease Control and Prevention (CDC), a national public health agency in the United States, reported in January 2023 that road accidents claim roughly 1.35 million lives globally every year. Additionally, around 3,700 people are killed daily in crashes involving unsafe vehicles, like those not equipped with LED lighting. Hence, the rise in global traffic accidents spurs the expansion of the automotive LED lighting market.
How Is The Automotive LED Lighting Market segmented?
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), After market
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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What New Trends Are Influencing The Automotive LED Lighting Market?
Technological progression is becoming an increasingly prominent trend in the automotive LED lighting industry. Major players in this sector are launching innovative and technologically superior products to maintain their competitive edge. For example, in October 2022, 'Lighting grille' technology was introduced by Hyundai mobiles, an automotive supplier based in South Korea. This advancement employs LED lighting and offers a dynamic grille with active flaps, improving aerodynamics and engine cooling. It also features an auto-driving mode and can exhibit a range of scenarios, like autonomous driving mode and EV charging mode, playing out scenarios such as a welcome light and emergency warning light differently to other tech products.
Who Are the Key Players 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
What Is The Most Dominant Region In The Automotive LED Lighting Market?
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
