The global automotive lighting market size is estimated to reach USD 48.73 billion in 2030, growing at a CAGR of 5.95% from 2024 to 2030, according to a new report by Grand View Research, Inc. Strict government policies and rising safety concerns are likely to propel growth over the forecast period. In addition, growing consumer awareness concerning the significance of adaptive lighting including dynamic bend light and a glare-free high beam is also expected to have a positive impact on the exterior lighting market.

 

Increasing apprehensions about using energy-efficient methods coupled with rising consumer disposable income are expected to drive the industry. In addition, growing demand for vehicles and technological advancements in the automotive industry is expected to propel utilization. Attractive growth opportunities for new entrants are expected in the industry owing to the growing number of total vehicles purchased y-o-y across BRIC nations. However, there is a need for legislative authorities to collaborate with light sourcing technology suppliers to develop flexible design techniques.

 

THE Automotive LED market is estimated to demonstrate considerable growth at a CAGR of over 12.0% from 2015 to 2022. Halogen lights contributed to over 66.0% of overall industry revenue in 2014, followed by LED and xenon. It has gained prominence on account of easy availability, low purchasing costs, and low replacement costs. However, rising fuel prices are expected to pose a threat to the industry.

 

Access the Automotive Lighting Market Size, Share & Trends Analysis Report By Solution, By Technology (Halogen, Xenon/HID, LED), By Application, By Sales Channel, By Region, And Segment Forecasts, 2024 – 2030

 

Automotive Lighting Market Report Highlights

·        LED segment accounted for the largest market revenue share of 46.4% in 2023.

 

·        Front lighting/headlamps accounted for the largest market revenue share in 2023. The evolution of vehicle design and styling has elevated the importance of headlamp aesthetics.

 

·        Original Equipment Manufacturers (OEMs) accounted for the largest market revenue share in 2023. The increasing production and sales of vehicles globally directly contribute to OEMs' demand for automotive lighting systems.

 

·        The passenger vehicle segment accounted for the largest market revenue share in 2023. The increasing consumer preference for aesthetically appealing and technologically advanced vehicles is boosting the demand for innovative lighting solutions in passenger vehicles.

 

·        North America automotive lighting market dominated the market in 2023.

 

Order your free sample copy of “Automotive Lighting Market Report 2024 - 2030, published by Grand View Research

 

 

Key Automotive Lighting Company Insights

Some of the key companies in the automotive lighting market include Sony Corporation, Samsung Electronics, Bosch Sensortec, Texas Instruments Incorporated., and STMicroelectronics. Organizations are focusing on increasing their customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies.

 

Samsung Electronics offers a diverse range of products tailored to meet the automotive industry's stringent requirements. Samsung's portfolio includes LED headlights, taillights, interior lighting modules, and OLED displays, each designed to enhance vehicle safety, efficiency, and design aesthetics.

 

Texas Instruments (TI) offers a comprehensive portfolio of products and solutions designed to enhance safety, efficiency, and performance in automotive lighting applications. These include advanced LED driver ICs (Integrated Circuits) that enable precise control of LED brightness, color temperature, and dimming capabilities, which are crucial for achieving optimal visibility and energy efficiency in headlights, taillights, and interior lighting.

 

 

Key Automotive Lighting Companies:

The following are the leading companies in the automotive lighting market. These companies collectively hold the largest market share and dictate industry trends.

 

·        Sony Corporation

·        Samsung Electronics

·        Bosch Sensortec

·        Texas Instruments Incorporated.

·        STMicroelectronics

·        Omnivision Technologies

·        Analog Devices

·        Panasonic Corporation

·        Knowles Electronics

·        InvenSense

 

 

About Grand View Research:

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com

 

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