Automotive Lighting Market for ICE & EV by Technology, Position & Application, Adaptive Lighting, 2W and Region - Global Forecast to 2027
Bharat Book Bureau Provides the Trending Market Research Report on“Automotive Lighting Market for ICE & EV by Technology (Halogen, LED, Xenon/HID), Position & Application (Head, Side, Tail, Fog, DRL, CHMSL, Dashboard, Glovebox, Reading, Dome, Rear View Mirror), Adaptive Lighting, 2W and Region - Global Forecast to 2027”under Automotive Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
Executive Summary
The Automotive Lighting Market is projected to grow from USD 21.9 billion in 2022 toUSD 28.5 billion by 2027, at a CAGR of 5.3% during the forecast period. Consumers' demand for aesthetically appealing lights in a car is ultimately driving the demand for automotive lighting. Implementation of stringent safety standards is also driving the adoption of advanced automotive lighting systems. Additionally, the growing sales of electric and autonomous vehicles are expected to create lucrative opportunities for automotive lighting manufacturers.
“Headlight leveling features expected to be the fastest-growing segment.”
Headlight leveling offers various benefits, such as better visibility and enhanced safety, adapting the driving conditions to avoid blinding cornering lights, etc. Due to their safety benefits, self-leveling headlights are mandatory in many countries, such as the US, Germany, and Japan. Lexus, Audi, and many high-end manufacturers offer headlight leveling features. Currently, the penetration of headlight leveling is majorly concentrated in Europe, followed by North America.
In February 2022, the U.S. National Highway Traffic Safety Administration (NHTSA) legalized advanced headlights known as "adaptive driving beams.” However, with growing advancements in adaptive lighting technology, countries like China and India are also expected to witness growth. Currently, passenger car holds the largest market share in headlight leveling and very low penetration in commercial vehicles.
“Two-wheeler front lighting segment would be the fastest growing market during the forecast period.”
Two-wheeler front lighting is the fastest growing in the automotive lighting market, while side lights have the largest market share. Currently, halogen headlights hold the largest market share. However, the growing popularity of LED headlights is expected to impact the halogen headlights market share in the coming years. LED offers various benefits, such as improved light quality, increased life span, and aesthetic appeal. There are different styles of LED headlights, the most popular in the market are Halo or angel eye headlights for motorcycles, multi-LED headlights, and fairing pattern LED headlights.
Although LED headlights are more expensive than halogen and xenon, the advantages offered by LED headlights will make them more cost-efficient in the long run. The Asia Pacific is expected to be the largest market due to increasing sales of two-wheelers in Indonesia, Thailand, and China. The growing popularity of mopeds/scooters in Asia, particularly Thailand and Indonesia, is expected to boost the two-wheeler front lighting market.
The Asia Pacific is the largest market for the automotive lighting market
The Asia Pacific has been witnessing significant automobile production and sales growth over the past few years, especially in emerging economies such as China and India. Growing sales of premium and luxury cars with adaptive lighting strongly drive the automotive lighting market. China is one of the largest premium car markets in the world and is expected to grow larger in the coming years. Despite the COVID-19 pandemic, a growth of ~5% was registered in luxury car sales. India is also experiencing growth in SUV sales and further boosting the automotive lighting market. Stringent safety regulations mandating advanced lighting systems in China and Japan are major factors driving the growth in the LED lighting market.
The availability of various models with adaptive lighting is also driving the popularity of advanced lighting systems. For instance, the Hyundai i40, Genesis, and Equus are Hyundai products with adaptive headlights installed. These vehicles are incorporated with LED lights. Kia has an adaptive headlight installed in the Cadenza. Hyundai, Kia, Audi, and Nissan are some of the popular OEMs that have adopted LED adaptive headlights comprehensively in their premium vehicle offerings. They are looking forward to integrating these systems more into their other offerings. Thus, considering the factors mentioned above, it is quite evident that the Asia Pacific is expected to remain the most attractive market for automotive lighting manufacturers.
Breakdown of primaries
The study contains various industry experts' insights, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
By Stakeholder: Supply Side – 60%, Demand Side – 40%n
By Designation: C level - 10%, Director Level– 20%, Others– 70%n
By Region: Asia Pacific - 60%, Europe - 20%, North America - 20%n
Note: Others include Design engineers, Exterior Lighting Designers, etc.
The key players in the automotive lighting market are Koito (Japan), Hella (Germany), Osram (Germany), Valeo (France), Continental (Germany), Philips (Netherlands), and Bosch (Germany).
Research Coverage
The automotive lighting market for ICE, Two-wheelers and EVs has been segmented on the basis of technology (halogen, LED, Xenon), vehicle type (passenger car, light commercial vehicle, bus, truck), applications (Exterior lighting [headlights, fog lights, day time running lights (DRL), taillights, sidelights, centre high-mount stop light (CHMSL)], interior lighting [dashboard, glovebox, reading lights, dome lights]), adaptive function (front adaptive function [on/off function, bend/cornering lights, high beam assist, headlight leveling], rear adaptive light, ambient light), two-wheelers by position (front, rear and side), EV by technology (halogen, Xenon and LED), EV by application(Exterior lighting [headlights, fog lights, day time running lights (DRL), taillights, sidelights, centre high-mount stop light (CHMSL)], interior lighting [dashboard, glovebox, reading lights, dome lights]), EV by vehicle typ (BEV, PHEV and FCEV) and region (Asia Pacific, Europe, North America and Rest of the world.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall automotive glass market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
Browse our full report with Table of Content : https://www.bharatbook.com/report/1378389/automotive-lighting-market-for-ice-ev-by-technology-halogen-led-xenonhid-position-application-head-side-tail-fog-drl-chmsl-dashboard-glovebox-reading-dome-rear-view-mirror-adaptive-lighting-w-and-region-global-forecast-to
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