Automotive Lighting Market to Grow by USD 12.38 Billion (2024-2028) with Rising Demand for Interior Lighting, Report with the AI Impact on Market Trends – Technavio
NEW YORK, Nov. 27, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global automotive lighting market size is estimated to grow by USD 12.38 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 8.09% during the forecast period. Increasing demand for effective interior lighting is driving market growth, with a trend towards development of autonomous vehicles. However, high cost of led lamps poses a challenge.Key market players include Continental AG, FlexNGate Group of Companies, General Electric Co., Hyundai Motor Group, Koito Manufacturing Co. Ltd., Koninklijke Philips N.V., LG Corp., Lumax Industries Ltd, Marelli Holdings Co. Ltd., Namyung Lighting Co. Ltd, NXP Semiconductors NV, OSRAM Licht AG, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Stanley Electric Co. Ltd., Stellantis NV, Suprajit Engineering Ltd., Valeo SA, and Varroc Engineering Ltd..
AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF
Forecast period |
2024-2028 |
Base Year |
2023 |
Historic Data |
2018 – 2022 |
Segment Covered |
Vehicle Type (Passenger cars and Commercial vehicles), End-user (OEM and Aftermarket), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) |
Region Covered |
APAC, Europe, North America, South America, and Middle East and Africa |
Key companies profiled |
Continental AG, FlexNGate Group of Companies, General Electric Co., Hyundai Motor Group, Koito Manufacturing Co. Ltd., Koninklijke Philips N.V., LG Corp., Lumax Industries Ltd, Marelli Holdings Co. Ltd., Namyung Lighting Co. Ltd, NXP Semiconductors NV, OSRAM Licht AG, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Stanley Electric Co. Ltd., Stellantis NV, Suprajit Engineering Ltd., Valeo SA, and Varroc Engineering Ltd. |
Key Market Trends Fueling Growth
The Automotive Lighting Market is experiencing significant growth due to increasing demand from car users for advanced lighting systems in both passenger cars and commercial vehicles. Luxury vehicles lead the trend with adaptive lighting systems, such as LED lights and Xenon or HID headlights, becoming standard features. Indium gallium nitide and aluminum gallium arsenide are popular materials for these systems. Adaptive lighting includes projector headlights, reflector headlights, OLED, matrix LEDs, and laser glare-free lighting systems. These technologies enhance visibility during vehicle movements, especially on road tracks with pedestrians, road hazards, and traffic collisions. Passenger cars, buses, LCVs (light commercial vehicles) like pickup trucks, delivery vans, and heavy trucks are all adopting energy-efficient LED technology for headlights, tail lights, brake lights, reversing lights, turn signal lights, and interior lighting. Vehicle manufacturers focus on dynamic light sequencing, Dynamic Light System, and smart lighting systems to improve safety and road safety. The two-wheeler lighting market also follows this trend. Autonomous driving and specialized lighting technologies further boost the market growth. Traditional fixtures like halogen bulbs are being replaced by LED lamps due to their superior illumination and cooling equipment efficiency. Battery technology and charging infrastructure development in electric vehicles also impact the automotive lighting market. The market size is expected to grow based on increasing per capita income, vehicle aesthetics, and lighting design considerations.
Leading automotive companies, including Delphi, Continental, Bosch, Daimler, Scania, and Volvo, are making significant strides in expanding the autonomous driving market. Their efforts, such as research and development, have led to increased acceptance of semi-autonomous features in both passenger and commercial vehicles. By the end of the forecast period, self-driving cars may become a reality, with a substantial number of these vehicles expected to be on the road within the next decade. These prominent automotive vendors have advanced in their research on autonomous vehicles, and the development and testing of features in advanced driver-assistance systems (ADAS) and telematics/connected vehicle applications and services are estimated to continue.
Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!
Market Challenges
- The Automotive Lighting Market faces several challenges in catering to the varying needs of car users. For luxury vehicles, providing glare-free lighting systems using technologies like OLED, matrix LEDs, and laser is crucial. However, affordability remains a concern for mass-market passenger cars, buses, and commercial vehicles like freight trucks and LCVs. Pedestrian safety is a significant challenge, with the need for adaptive lighting systems that respond to road tracks, vehicle movements, and pedestrian presence. Daytime running lights and LED tail lights are popular energy-efficient lighting solutions. Lighting design also focuses on vehicle aesthetics and autonomous driving requirements. Specialized lighting technologies like LED, Indium Gallium Nitride, and Aluminum Gallium Arsenide continue to evolve, with cooling equipment and battery technology playing essential roles in their implementation. Road safety and improved visibility are key concerns, with the market witnessing a shift from halogen and HID to LED headlamps and tail lights. The two-wheeler lighting market also presents opportunities for innovation, with dynamic light sequencing and smart lighting systems gaining popularity.
- The automotive lighting market has seen significant growth with the increasing adoption of LED lamps. These lamps offer energy efficiency and numerous features, making them a popular choice over traditional halogen and compact fluorescent lamps (CFL). LED lamps last 25 times longer than halogen lamps and three times longer than CFL, reducing the frequency of replacements. However, their high upfront cost remains a barrier to purchase. Vendors are working to reduce costs while maintaining quality and efficiency, making LED lamps more accessible to consumers. Despite the price reduction, LED lamps remain more expensive than other automotive lighting options.
Insights into how AI is reshaping industries and driving growth- Download a Sample Report
Segment Overview
This automotive lighting market report extensively covers market segmentation by
- Vehicle Type
- 1.1 Passenger cars
- 1.2 Commercial vehicles
- End-user
- 2.1 OEM
- 2.2 Aftermarket
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and Africa
1.1 Passenger cars- The automotive lighting market in passenger cars is driven by the growing demand for both exterior and interior lighting systems. While exterior lighting is the primary factor fueling the market’s growth, the increasing preference for interior lighting offers significant opportunities for vendors. Interior lighting in passenger cars has evolved to provide functional and operational benefits, enhancing safety, appeal, and fashion. Although initially found in luxury vehicles, ambient interior lighting is gaining traction in mid-segment and economic classes. Key stakeholders include suppliers, OEMs, and aftermarket service providers, who influence new technology usage. The luxury car sector leads the interior automotive lighting market due to rising demand and technological innovations. SUVs, with their multipurpose applications and added comfort, are the primary driver for the passenger cars segment. Additionally, the increasing adoption of electric vehicles (EVs) and the focus on in-vehicle comfort are boosting market growth. The aftermarket for automotive lighting is also expanding as consumers seek to enhance their vehicles’ comfort and aesthetics.
Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)
Research Analysis
The automotive lighting market is witnessing significant growth due to the increasing demand for advanced lighting systems in cars. Car users, especially those driving luxury vehicles, are seeking better visibility and safety features, leading to the adoption of adaptive lighting technologies such as LED lights and Halogen, Xenon or HID headlights. Indium gallium nitride is a key material used in the production of high-performance LED lights. Car lights are not just for illumination but also play a crucial role in ensuring the safety of motor vehicles by enhancing visibility during traffic collisions, pedestrian detection, and warning of road hazards. Vehicle manufacturers are integrating advanced lighting technologies like Daytime running lights, High-Intensity Discharge headlights, LED tail lights, and Smart lighting systems to improve vehicle movements and road tracking. Lighting technology continues to evolve with the introduction of Laser lighting technology, Laser headlights, and cooling equipment for LED lamps. The focus on enhancing vehicle safety and reducing fatal crashes is driving the demand for advanced automotive lighting systems.
Market Research Overview
The Automotive Lighting Market encompasses various lighting technologies and applications for motor vehicles, including cars, buses, commercial vehicles, and two-wheeler vehicles. Adaptive lighting, such as LED lights and Halogen, Xenon or HID, plays a crucial role in enhancing visibility during vehicle movements, particularly in luxury vehicles and passenger cars. Advanced lighting systems, like matrix LEDs, laser, and OLED, offer glare-free lighting and dynamic light sequencing for improved safety during traffic collisions and pedestrian detection. LED technology, with its energy-efficient solutions, dominates the market, with applications ranging from headlights to tail lights, brake lights, reversing lights, and interior lighting. The market also includes traditional fixtures like halogen bulbs and high-intensity discharge headlights. Autonomous driving and specialized lighting technologies are emerging trends in the market, focusing on safety and design flexibility. The two-wheeler lighting market also showcases advancements in LED technology, with dynamic lighting features and superior illumination. Factors influencing the market include vehicle movements, road hazards, road tracks, and per capita income. The market caters to various vehicle types, including passenger cars, electric vehicles, LCVs, pickup trucks, delivery vans, heavy trucks, and buses. Manufacturers prioritize energy-efficient lighting solutions, cooling equipment, and lighting design for both aesthetic and safety purposes. The market also includes advanced lighting systems like dynamic lighting features, side lighting, and lighting grille technology. Road safety, traffic accidents, and fatal crashes are significant concerns driving the demand for advanced lighting systems. The market’s future growth is expected to be influenced by battery technology, charging infrastructure, and the increasing popularity of electric vehicles.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Vehicle Type
- Passenger Cars
- Commercial Vehicles
- End-user
- OEM
- Aftermarket
- Geography
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/automotive-lighting-market-to-grow-by-usd-12-38-billion-2024-2028-with-rising-demand-for-interior-lighting-report-with-the-ai-impact-on-market-trends—technavio-302316296.html
SOURCE Technavio
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. We takes no editorial responsibility for the same.