The automotive lighting global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Lighting Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive lighting market size has grown strongly in recent years. It will grow from $26.44 billion in 2023 to $28.3 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to vehicle adoption, safety regulations, styling and aesthetics, global expansion.
The automotive lighting market size is expected to see strong growth in the next few years. It will grow to $36.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to led technology advancements, autonomous vehicles, electric vehicles (evs), environmental concerns, connectivity and smart lighting. Major trends in the forecast period include adaptive lighting, matrix led headlights, dynamic turn signals, light signature design, oled lighting.
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Scope Of Automotive Lighting Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Lighting Market Overview
Market Drivers –
During the forecast period, a growing emphasis on road safety will contribute to the growth of the 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. For instance, in June 2022, according to The Institute for Health Metrics and Evaluation, a US-based foundation, improving measures for road safety could save half a million lives every year. Wearing helmets, following traffic rules such as speed limits, avoiding drunk-and driving could save 3.47k and 5.40k lives every year. These factors are leading to the growth in demand for adaptive and better lighting systems in vehicles and will thereby drive growth of the automotive lighting market.
The automotive lighting market covered in this report is segmented –
1) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
2) By Technology: Halogen, Xenon/HID (High-intensity Discharge Lamp), LED (Light Emitting Diode)
3) By Application: Front/Headlamps, Rear Lighting, Side, Interior Lighting
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Regional Insights –
Asia-Pacific was the largest region in the automotive lighting market in 2023. North America was the second-largest region in the automotive lighting market. The regions covered in the automotive lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the automotive lighting market include HELLA GmbH & Co. KGaA, Koito Manufacturing Co. Ltd., Osram Licht AG, Koninklijke Philips N.V., Magnetti Marelli, Grupo Antolin, Flex Automotive GmbH, Lumax Industries Limited, Valeo Lighting Systems, Bosch Lighting Technology, Seima, Visteon Coporation, ICHIKOH INDUSTRIES LTD., STANLEY ELECTRIC CO. LTD., Peterson Manufacturing Company, Hyundai Mobis, Varroc Group, Denso Corporation, ZKW Group, General Electric Co, Lumax Industries Ltd., Continental AG, Marelli Automotive Lighting, Varroc Lighting Systems, Flex-N-Gate Corporation, Magna International Inc, SL Corporation, TYC Brother Industrial Co. Ltd., Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Guangzhou Ledoauto Company Ltd, Phoenix Lamps Division of Suprajit Engineering Ltd, Automotive Lighting Reutlingen GmbH
Table of Contents
1. Executive Summary
2. Automotive Lighting Market Report Structure
3. Automotive Lighting Market Trends And Strategies
4. Automotive Lighting Market – Macro Economic Scenario
5. Global Automotive Lighting Market Size and Growth
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31. Global Automotive Lighting Market Competitive Benchmarking
32. Global Automotive Lighting Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive Lighting Market
34. Automotive Lighting Market Future Outlook and Potential Analysis
35. Appendix
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