Global Automotive Light Emitting Diode (LED) Bulbs Market Overview 2024, Forecast To 2033
8 Jan, 2024
The automotive light emitting diode (LED) bulbs market has witnessed strong growth, increasing from $9.32 billion in 2023 to $10.23 billion in 2024, with a 9.8% CAGR. This growth is attributed to increasing awareness of energy efficiency, regulatory standards, safety and visibility considerations, and aesthetic and design preferences. The forecast period predicts rapid growth, reaching $15.1 billion in 2028, driven by the growth of electric vehicles (EVs), autonomous vehicles, smart lighting and connectivity, sustainability and green practices, and the integration of advanced driver assistance systems (ADAS).
Global Automotive Light Emitting Diode (LED) Bulbs Market Key Driver
Advancements in automotive LED technology, including µAFS LED headlights and OLED for vehicle lighting, drive the automotive LED bulbs market. Magnachip Semiconductor Corporation's introduction of an organic light-emitting diode display integrated circuit (OLED DDIC) for automotive displays reflects the industry's technological progress. The integration of source drivers, gate drivers, and timing controllers in a single chip reduces production costs, fostering the demand for advanced LED bulbs.
Get A Free Sample Of The Global Automotive Light Emitting Diode (LED) Bulbs Market ReportGlobal Automotive Light Emitting Diode (LED) Bulbs Market Segments
The automotive light emitting diode (led) bulbs market covered in this report is segmented –
1) By Vehicle Type: Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle(HCV)
2) By Adaptive Lighting: Front Adaptive Lighting, Rear Adaptive Lighting, Ambient Adaptive Lighting
3) By Sales Channel: OEM, Aftermarket
By Geography: The regions covered in the automotive light emitting diode (led) bulbs market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the automotive light emitting diode bulbs market in 2023. North America was the second-largest region in the automotive light emitting diode (LED) bulbs market. The regions covered in the automotive light emitting diode (led) bulbs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Automotive Light Emitting Diode (LED) Bulbs Industry Players
SG Automotive, Hella, KOITO, Magneti Marelli, OSRAM, Valeo, Stanley Electric Co. Ltd., Varroc Lighting Systems, Koninklijke Philips N.V., Mercedes-Benz, Hyundai Group, Toyota Motor Corporations, Zizala Corporations, Automotive Lighting, Flextronics Automotive GmbH & Co. KG (formerly Sidler Automotive), Grupo Antolin, Irausa S.A., Ichikoh Industries Ltd., SL Corporation, NAOEVO, ZKW Group, Lumileds Holding B.V., General Electric, Cree Inc., Diode Dynamics, Morimoto, GTR Lighting, J.W. Speaker Corporation, Baja Designs, Vision X, Rigid Industries, KC HiLiTES, Anzo USA, Putco, Oracle Lighting, Auxbeam, Fahren, SEALIGHT, BEAMTECH, HIKARI, Lasfit
Get The Full Global Automotive Light Emitting Diode (LED) Bulbs Market Report
Automotive Light Emitting Diode (LED) Bulbs Market Overview
Automotive light bulb that uses LED technology as its light source rather than halogen filaments, which transforms electrical energy into a single hue of light that are used in sidelights, fog lights, brake lights, indicators, number plates, and others.
Automotive Light Emitting Diode (LED) Bulbs Global Market Report 2023 provides data on the global automotive light emitting diode (led) bulbs market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive light emitting diode (led) bulbs market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.