How Global Automotive Lighting Market Players Should Strategize For 2022-2031

The global automotive lighting market size is expected to grow from $11.96 billion in 2021 to $25.77 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The automotive lighting market is expected to reach $39.03 billion in 2026 at a CAGR of 10.9%.

What is the Global Automotive Lighting Market?

The automotive lighting market consists of sales of automotive lighting and related services. Automotive lighting and signaling devices are mounted on the front, rear, sides, and in some cases the top of a motor vehicle. The lighting system also makes the vehicle more visible especially in low light conditions.

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What drives the Global Automotive Lighting Market?

During the forecast period, a growing emphasis on road safety will contribute to the growth of automotive lighting market. The demand for safety features along with the adaptive lighting system has increased due to an increase in the number of road accidents worldwide. Vehicles with adaptive and advanced lightings can provide optimum road illumination and detect objects on the road, thereby enabling the driver to take appropriate actions. These factors are leading to the growth in demand for adaptive and better lighting systems in vehicles and will thereby drive automotive lighting market.

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Global Automotive Lighting Market Segments
The global automotive lighting market is segmented:
By Vehicle Type: Passenger Vehicle, Commercial Vehicle
By Technology: Halogen, Xenon/HID (High-intensity Discharge Lamp), LED (Light Emitting Diode)
By Application: Front/Headlamps, Rear Lighting, Side, Interior Lighting
By Geography: The regions covered in the automotive lighting global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Automotive Lighting Global Market Report 2022 provides market size and growth forecasts for the global automotive lighting market, automotive lighting global market share, automotive lighting global market segments and geographies, automotive lighting market competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive lighting market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Automotive Lighting Industry Players include Hella, Koito Manufacturing Co. Ltd., Osram Licht AG, Koninklijke Philips N.V., Magnetti Marelli, Grupo Antolin, Flex Automotive GmbH, Lumax Industries Limited, Valeo Lighting Systems, and Bosch Lighting Technology. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.