What Fueled The Previous Growth In The Automotive Lighting Market?
The automotive lighting market has seen considerable growth due to a variety of factors.
• There has been robust growth in the automotive lighting market size over the past few years. From a market worth $28.3 billion in 2024, it is projected to increase to $30.15 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%.
The historic period's growth was largely driven by factors such as vehicle adoption, safety regulations, styling and aesthetics, as well as global expansion.
How Does the Forecast Look for the Automotive Lighting Market Size?
The automotive lighting market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the automotive lighting market is projected to witness significant expansion. The anticipated value by 2029 stands at $38.3 billion, growing at a compound annual growth rate (CAGR) of 6.2%.
This growth over the forecasting period is mainly due to advancements in LED technology, advent of autonomous and electric vehicles (EVs), environmental factors, connectivity and smart lighting. Key trends shaping the market during the forecast period include adaptive lighting, matrix LED headlights, dynamic turn signals, light signature designs, and OLED lighting.
What Factors Are Driving Growth In The Automotive Lighting Market?
The expansion of the automotive lighting market during the forecast period will be fueled by an increased focus on road safety. The escalating number of road accidents worldwide has fueled the necessity for safety features inclusive of adaptive lighting systems. For example, The Institute for Health Metrics and Evaluation, a US-based organization, noted in June 2022 that enhancing road safety measures could potentially prevent the loss of half a million lives annually. Adherence to traffic regulations such as speed limits, wearing helmets, and refraining from drunk driving could prevent 3.47k and 5.40k deaths each year. These elements catalyze the growing demand for more efficient and adaptive lighting solutions in vehicles, thereby promoting the growth of the automotive lighting market.
How Are The Segments Defined Within The Global Automotive Lighting Market?
The automotive lighting market covered in this report is segmented –
1) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
2) By Technology: Halogen, Xenon Or HID (High-intensity Discharge Lamp), LED (Light Emitting Diode)
3) By Application: Front Or Headlamps, Rear Lighting, Side, Interior Lighting
Subsegments:
1) By Passenger Vehicle: Sedan, Hatchback, SUV, Coupe, Convertible
2) By Commercial Vehicle: Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), Trucks, Buses, Vans
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How Are New Trends Expected To Influence The Growth Of The Automotive Lighting Market?
Firms in the automobile lighting sector are pouring resources into creating lamps that are impervious to fog. These innovative lights not only tackle fog problems, but also address challenging areas such as temperature, humidity, and vibration. Hyundai Mobis, for example, has revealed its success in designing new materials that technically resolve fog-related issues. It collaborated with Initz, a subsidiary of SK Chemical, to formulate a new material by adding various substances to plastic so it won't emit gases. Additionally, they developed a lightweight material that decreases the lamp's weight by 20%. The arrival of these fog-proof lamps will promote market growth.
Who Are the Key Players In The Automotive Lighting Market?
Major companies operating in the automotive lighting market include:
• HELLA GmbH & Co. KGaA
• Koito Manufacturing Co. Ltd.
• Osram Licht AG
• Koninklijke Philips N.V.
• Magnetti Marelli
• Grupo Antolin
• Flex Automotive GmbH
• Lumax Industries Limited
• Valeo Lighting Systems
• Bosch Lighting Technology
• Seima
• Visteon Coporation
• ICHIKOH INDUSTRIES LTD.
• STANLEY ELECTRIC CO. LTD.
• Peterson Manufacturing Company
• Hyundai Mobis
• Varroc Group
• Denso Corporation
• ZKW Group
• General Electric Co
• Lumax Industries Ltd.
• Continental AG
• Marelli Automotive Lighting
• Varroc Lighting Systems
• Flex-N-Gate Corporation
• Magna International Inc
• SL Corporation
• TYC Brother Industrial Co. Ltd.
• Changzhou Xingyu Automotive Lighting Systems Co. Ltd.
• Guangzhou Ledoauto Company Ltd
• Phoenix Lamps Division of Suprajit Engineering Ltd
• Automotive Lighting Reutlingen GmbH
What Is The Most Dominant Region In The Automotive Lighting Market?
Asia-Pacific was the largest region in the automotive lighting market in 2023. North America was the second-largest region in the automotive lighting market. The regions covered in the automotive lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
