Analysis of Automotive Interior LED Lighting market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
In 2020, the global automotive interior LED lighting market was valued at US$ 30 Bn, and is expected to be worth US$ 33.08 Bn in 2022. During the forecast period 2022-2032, the market is expected to grow at a steady CAGR of 5% and it is expected that this market will reach a global valuation of US$ 53.88 Bn by the end of 2032.
Market Value in 2020
US$ 30 Bn
Expected Market Value in 2022
US$ 33.08 Bn
Projected Market Value in 2032
US$ 53.88 Bn
CAGR during the forecast period, 2022-2032
Key Players Profiled
As LED technology has progressed, the role of interior lighting has been elevated to becoming an effective brand differentiator. Manufacturers are increasingly focusing on creating custom interiors with greater adherence to both safety and road legality. Furthermore, the general trend toward miniaturization of components is making automotive LEDs more suitable for interior lighting applications.
Don't Need a Global Report?
Save 40% on Country & Region specific reports
According to Fact.MR, a market research and competitive intelligence provider, the Automotive Interior LED Lighting Market is expected to reach a global market value of US$ 53.88 Bn by 2032. Automotive interior LED lighting's slow adoption is a result of costly installation costs and heat-induced failure of LEDs, translating into a 2.9% CAGR during the historical period, 2017-2021.
There has been a global disruption in the automotive supply chain due to the COVID-19 outbreak. In addition to disrupting manufacturing facilities globally, the epidemic has also affected auto sales which has directly affected the global automotive lighting market adversely. The global market is projected to be affected further by a downward trend in demand for conventional and electric vehicles in 2020. COVID-19 outbreak has led to a significant decrease in vehicle production and sales, with a 20% drop estimated in 2020. This will have a negative impact on the automotive lighting industry.
European and North American developed nations' lighting regulations will drive the automotive lighting market until 2032. There is a likelihood that the interior lighting of automobiles will undergo a significant change, with an emphasis on conveying more information such as the current driving mode and battery charge level.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
“LED interior lighting market to benefit from new applications”
Considering an increase in the demand for personalized driving experience, consumers are also demanding personalized colors for their interior lighting-transforming cars to a more distinctive and feel-good zone.
Customizing the lights is likely to add an emotional component to the rather more conventional use of traditional interior lighting, thereby increasing the demand for automotive interior LED lighting. Moreover, extensive application areas of interior lighting at the functional level will also drive the market for automotive LEDs for interior lighting.
Different colored-lighting to indicate economy or sports mode and dynamic lighting sequence in semi-autonomous vehicles to relay information to the driver.
“Automotive LED lighting to become more functional due to the growing demand for autonomous vehicles”
Owing to advancing technology and increased acceptance of autonomous vehicles, automotive interior lighting is likely to change significantly-with focus shifting towards conveying more information including current driving mode and battery charge level.
Moreover, top automotive manufacturers also predict that interior LED lighting will not just help in navigation and present vehicle information, but also be used for entertainment and communication-achieved through a combination of integrated electronics and automotive interior LEDs.
The automotive interior LED lighting market is poised for a bright future due to technological innovations
Offering long service life and extreme vibration resistance, automotive interior LED lighting is becoming more and more popular. Previously used in high-end vehicles, auto makers are increasingly adopting LED lighting systems in the mid and low-segment cars owing to increasing efficiency and decreasing prices of LEDs amongst other factors such as faster rise time.
Moreover, apart from just a personalization feature, use of automotive interior LED lighting makes car interiors look bigger and spacious. Innovations in heat management of LEDs is likely to create manufacturing opportunities considering the hot heat source of LEDs that further lowers its life expectancy. Manufacturers are experimenting with polycarbonate to replace aluminum in the headlamps, also offering additional design freedom.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Asia-Pacific is expected to be a prominent automotive interior LED market, with an anticipated CAGR of 5% from 2022 to 2032. Growth in this market can be attributed greatly to the increase in production of various vehicles, as well as the increase in demand for and sales of luxury cars.
North America has been displaying a growth rate of 4.5%. In this region, the growth is being driven by the increased demand of the commercial vehicles because of the growing logistics industry and due to the region's booming e-commerce sector. As middle-class consumers' disposable incomes rise, low-cost vehicle sales have also increased and helped the market to progress.
During the forecast period, Europe is projected to emerge as a major region, emphasizing pedestrian safety and driving standards. Europe alone will account for a 6% CAGR during this period. Automotive manufacturers and suppliers of automotive components continue to invest in R&D and the development of safety technologies.
The rate of commercial vehicles registration rose by 9.6% in 2021 than that of in 2020. Globally in 2021, 7.77 Mn vehicles were produced in total, out of which Germany alone accounted for 3.8 Mn cars. The automotive lighting industry revenue share in Europe is projected to surpass USD 9 billion by 2027 due to the strong presence of several prominent automobile manufacturers in the region. Europeans are expected to play a major role in the global automotive interior LED market as a result of rapid technological advancements in the automotive industry.
Over the next ten years, the market for Automotive Interior LED Lighting from passenger vehicles is expected to grow at a rate of over 5.5%. Significant investment by automakers in research & development to develop lighting systems that are compatible with driver assistance systems and proximity sensors will support this market growth.
Due to an increase in road accidents, concerns about the safety of vehicles and passengers on the road have increased, resulting in increased demand for automobile lighting solutions. Market revenue is driven by strict regulations established by the government and transportation authorities as part of efforts to improve road safety.
The market for ambient automotive interior lighting will grow by more than 10% in 2022. Interior lighting will fuel market growth by providing ambient illumination and improving the aesthetics of vehicles.
Smart ceiling lights that adapt to the environment are preferred by owners of contemporary and luxury cars. Additionally, commercial vehicles like taxicabs, buses, and pickup trucks use interior lighting to improve visibility.
It is expected that 12V automotive interior LED lighting is going to maintain a market share close to 2/3rd throughout the assessment period, due to its low electromagnetic radiation, wide operating temperature range, and dimmable nature. This segment is projected to anticipate a market opportunity of approximately US$ 716 Mn through 2022.
There are a number of key players in the automotive lighting market, including Koito Manufacturing, Magneti Marelli, Valeo Group, Stanley Electric, Lumax Industries, Hella, Zizila Lichtsysteme, Tungsram and Osram. In addition to forming joint ventures, companies are expanding their global footprint. Examples include:
- Premium Report Details -
- Let's Connect -
- Quick Contact -
- Get Started -
Get insights that lead to new growth opportunitiesBuy Now
Get A Special pricing for start-ups and universitiesEnquiry Before Buying
- Humble, Yet Honored -
- Research Methodology -
An Adaptive Approach to Modern-day Research NeedsGet Methodology
- Related Reports -
The automotive interior LED lighting market was estimated to be worth US$ 30 Bn in 2020 and is expected to reach US$ 33.08 Bn in 2022.
During the forecast period, 2022-2032, the market will exhibit a CAGR rate of 5% and is projected to reach US$ 53.88 Bn by 2032.
The driver safety along with the increasing demand for autonomous vehicles will drive this market in 2022.
Europe can be estimated to take over a major market share by 2032.
With a CAGR of 6%, Europe is projected to drive the market for automotive interior LED lighting industry
With the presence of several prominent automobile manufacturers in Europe, the sector's revenue share will surpass USD 9 billion by 2027.
The 12V segment is expected to reach a global vacation of US$ 716 Mn in 2022.
Need An Exclusive Report For Your Unique Requirement?