Automotive Lighting Market Share, Growth and Global Report 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Automotive Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive lighting market share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Automotive Lighting Market?
The global automotive lighting market size reached US$ 30.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.
What is Automotive Lighting?
Automotive lighting refers to specialized lighting installed in the interior and around the exterior perimeters of a motorized vehicle. It comprises headlights, daytime running lights, signal lights, fog lights, brake lights, navigation lights, and dashboard warning lights. It covers the interior sector along with the front, rear, and sides of a vehicle for maintaining proper illumination and signaling. It allows the driver to see the roadway in the dark and signal other motorists about the presence of a vehicle. It also provides enough light to show the driver where they are going without the excessive glare that could dazzle oncoming drivers.
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What are the growth prospects and trends in the automotive lighting industry?
At present, the increasing demand for efficient automotive lighting to prevent the occurrence of road accidents and strengthen the safety of drivers and passengers is propelling the growth of the market.
Besides this, the rising purchase of personal cars to travel comfortably and avoid public transportation is contributing to the growth of the market. In addition, the growing integration of organic light-emitting diodes (OLEDs), laser, and matrix-led lighting in cars is offering a favorable market outlook.
Apart from this, the increasing implementation of strict lighting regulations in vehicles to prevent accidents and maintain road safety is supporting the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
- Halogen
- Xenon/HID
- LED
Breakup by Vehicle Type:
- Passenger Vehicle
- Commercial Vehicle
Breakup by Sales Channel:
- Original Equipment Manufacturers
- Aftermarket
Breakup by Application:
- Front Lighting/Headlamps
- Rear Lighting
- Side Lighting
- Interior Lighting
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Continental AG, General Electric Company, HELLA GmbH & Co. KGaA, Hyundai Mobis, Koito Manufacturing Co. Ltd., Koninklijke Philips N.V., LG Electronics Inc., Lumax Industries Limited, Magneti Marelli S.p.A., Osram Licht AG (ams AG), Robert Bosch GmbH, Samsung Electronics Co. Ltd., Stanley Electric Co. Ltd. and Valeo.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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