The Automotive Ambient Lighting Global Market Report 2023 by The Business Research Company, provides automotive ambient lighting market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Automotive Ambient Lighting Global Market Report 2023, the market size is expected to grow from $3.56 billion in 2022 to $3.91 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the automotive ambient lighting market is expected to grow to $5.52 billion in 2027 at a CAGR of 9.0%.
The growth of high-end luxury car sales is expected to propel the automotive lighting market. High-end luxury cars are vehicles with high-quality interiors and a large number of features that are not found in normal cars. The increasing demand for high-end luxury cars resulted in the use of innovative and technologically advanced ambient lights to enhance the safety and security features of luxury cars.
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The automotive ambient lighting market is segmented:
1) By Product: Dashboard Lights, Ambient Lighting, Head-up Display, Reading Lights
2) By Technology: Halogen, LED, Xenon
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles, and Heavy Commercial Vehicles
Technological advancements have emerged as the key trend gaining popularity in the automotive ambient lighting market. Major automotive lighting companies are introducing technologically advanced lights to reinforce their position in the market. For instance, in May 2022, Hella KGaA Hueck & Co., a Germany-based manufacturer of lighting, electronic components, and systems, launched a combination of lighting solutions and sensor technology that adds intelligence to the vehicle, improving comfort, well-being, and safety. This new smart HELLA Slim Light System supports communication between occupants and vehicle, setting the tone for the interior while enabling wide-area lighting.
The automotive ambient lighting market report table of contents includes:
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Top Major Players
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