Automotive Lighting Market size is poised to reach USD 62 Billion by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of automotive lighting was USD 34 Billion. The growth of the market can primarily be attributed to the growing demand for automotive lighting along with increasing number of motor vehicles worldwide. For instance, it was found that, globally, the production of motor vehicles reached to about 79 million in 2021.
Automotive lighting system consists of lighting and signaling devices which lights the roadway for the driver. The lights are mounted on the front, sides, rear, and in some cases on the top of a motor vehicle, making it more visible, especially in conditions of low light. Automotive lighting gives warning to other motor drivers and pedestrians about the presence and direction of travel. With the distinctive lighting equipment required in emergency vehicles to alert drivers and pedestrians as well as alarming crashes caused by ambulances, the demand for automotive lighting is on the rise amongst the emergency service providers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive lighting during the forecast period. For instance, it was observed that, the crash rate is over 4 per 100,000 responses, when an ambulance responds any emergency call without using sirens and lights.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
6% |
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Base Year Market Size (2022) |
USD 34 Billion |
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Forecast Year Market Size (2033) |
USD 62 Billion |
Technology {Light-emitting Diodes (LED), Halogen, Xenon, Laser}
The global market is segmented and analyzed for demand and supply by technology into halogen, LED, xenon and laser. Amongst these segments, the xenon segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing popularity of xenon headlights on high-end cars as xenon headlights deliver a white-blue light providing a premium, stylish look and are energy efficient. They are around 2 to 3 times brighter than a halogen, and lasts for about 2,500 hours. Along with the surge in the sale of luxury cars worldwide. For instance, the share of new vehicles sold in the United States by luxury brands hit to ~17% in June 2022.
Our in-depth analysis of the global automotive lighting market includes the following segments:
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By Product Type |
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By Technology |
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By Vehicle Type |
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By Distribution Channel |
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Regionally, the global automotive lighting market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Europe is projected to hold the largest market share by the end of 2033, backed by the presence of a strong mobility network in the region, growing innovations towards a new era of mobility and a carbon-neutral Europe, as well as the rising investment in research & development (R&D) in the automotive sector. As per 2021 data, it was found that, Europe invested around USD 61 billion per year and is responsible for ~33% of total EU spending on innovation, the automotive sector.
ams-OSRAM AG – cooperated with TactoTek to optimize RGB LED for in-mold structural electronics to drive innovations in automotive interior illumination.
Compagnie Plastic Omnium SE - acquired Varroc’s automotive lighting system business, enabling differentiating solutions for exterior systems.
Author Credits: Harshita Srivastava, Saima Khursheed
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