Automotive Lighting Market
Automotive Lighting Market By Application (Front Headlight, Fog Light, Rear, Side Lights), By Vehicle Type (Passenger Cars, LCVs, Two Wheelers), By Light Source (Halogen, Xenon, LED), By Sales Channel, By Region - Global Market Insights 2021 to 2031
Automotive Lighting Market Outlook (2021- 2031)
The sales of automotive lighting exceeded US$ 25 Bn by the end of 2021. Demand for automotive lighting has witnessed substantial growth in the last few years due to an increase in the number of on-road vehicles and rise in global vehicle production.
In addition, demand for front lights and their components remaining high are driving the sales of automotive lighting. Thus, the automotive lighting industry is projected to expand at over 6% CAGR by garnering a revenue of US$ 45 Bn from 2021 to 2031.
Avail customized purchase options for your needs
Key Points Covered in Automotive Lighting System Industry Analysis
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Automotive Lighting and How to Navigate
- Recommendation on Key Winning Strategies
Automotive Lighting Revenue Analysis 2016-2020 Vs Outlook 2021-2031
As per Fact.MR’s report, over the last five years, the sales of automotive lighting exceeded US$ 20 Bn by the end of the aforementioned period, expanding at a CAGR of over 4%. Manufacturers of automotive lighting are making optimum use of technological advancements in order to adapt to different vehicles.
Amid the COVID-19 pandemic, prospects dipped significantly, attributed to global shutdowns of automotive and associated components manufacturing units due to the imposition of a global lockdown. Fortunately, this recessionary impact was short-lived as governments worldwide introduced stimulus packages to buoy out the automotive industry.
Furthermore, the demand from passenger vehicles is driving the sales of automotive lighting. Thus, in the forecast period, the sales of automotive lighting are expected to surpass US$ 45 Bn by registering a CAGR of 6% through 2021-2031.
An Adaptive Approach to Modern-day Research Needs
What is the Commercial Potential of Automotive Lighting?
Apart from vehicles, lighting is used in industrial & commercial applications. Industrial lighting is mainly found in factories, chemical plants, and manufacturing plants, while commercial lighting is found in homes, offices, restaurants, schools, and any other commercial centres.
Lighting technology has made advancements in all segments over the years. Manufacturers are trying to improve the efficiency of lighting solutions for automotive as well as industrial use. Halogen, LED, and xenon headlight technologies are driving market expansion across regions. The potential for the lighting market is not only limited to automotive but across many different sectors.
Which Recent Trends are Increasing Demand for Automotive Lighting?
Modern automotive lighting solutions have enhanced performance, improved security, and sleek designs. Many manufacturers who are opting for energy-efficient electronics in cars are using LED lights for automobiles these days. LEDs have a high-tech look and longer lifespan, which is why, they are becoming so popular among manufacturers. Some companies are producing LED headlights with a bendable light source.
Laser lighting is also an upcoming trend in the automotive industry, as they are smaller in size and have brightness almost four times that of an LED. The primary benefits for drivers is that laser lighting has a long reach and offers increased visibility of the road.
Interested to Procure The Data
Why is the U.S. a Lucrative Market for Automotive Lighting Manufacturers?
Fact.MR has predicted the U.S. to be one of the prominent markets for automotive lighting systems. Automotive lighting manufacturers are trying to establish long-term partnerships with suppliers and OEMs for furthering their businesses.
Moreover, U.S. automotive manufacturers are adapting to technological advancements that happen in the market. The U.S. market has many prominent OEMs such as Fiat Chrysler, Ford, and General Motors, which is a major driving factor for its growth.
For instance, Ford’s advanced front lighting system widens the light beam at junctions for better light illumination, which enhances the driver’s attention towards pedestrians and animals on and off the road. Thus, U.S is expected to hold more than 40% of the market share for automotive lighting in the forecast period.
What is the Outlook for China’s Automotive Lighting Industry?
The Chinese market for automotive lighting equipment is expected to expand over the coming years mainly because of the presence of large manufacturers in the country. China is one of the main exporters of electronic components to lighting manufacturers.
China’s market is surging mainly because of rapid growth in the manufacturing of LED headlamps with additional functions such as ABD (adaptive driving beams) and AFS (adaptive front-lighting systems). The Chinese government has been promoting the sales of electric vehicles, which has accelerated demand for automotive lighting as well. Fact.MR expects the Chinese landscape to hold a market share of over 60% of the total market share of automotive lighting.
Why are Automotive Lighting Sales Surging in India?
The Indian automotive lighting industry is mostly driven by increase in production of vehicles. Growth of the population and increase in purchasing power of customers are also accelerating the sales of new vehicles in India, which is also impacting demand for automotive lighting, both, automotive rear lights and automotive front lights, in a positive way.
The automotive after market plays a crucial role for lighting manufacturers, as the condition of roads in India often can cause injuries. Attributed to these trends, the market for automotive lighting is expected to capture a market share worth 58% until 2031.
Why are Passenger Vehicles Key Beneficiaries of Automotive Lighting?
The market share of passenger vehicles is significantly higher than other types of vehicles. Demand for use in passenger vehicles is increasing due to rising income and lifestyle of the population.
People are preferring to have their own vehicle over public transport, which is accelerating demand for passenger vehicles, and, in turn, heightening demand for automotive lighting. Thus, passenger vehicles are expected to hold 50% of market share for automotive lighting.
What is the Scope for LED Automotive Lighting?
LED lights are highly energy efficient, compared to halogen or other headlights. LED lighting technology is used in many luxury and high-end vehicles, but nowadays, manufacturers have slowly started to use LED lighting solutions across vehicle types due to constant development in lighting technology.
In addition, they draw less energy from the vehicle which in turn increases energy efficiency, thus enabling automobile users to economize on costs. Thus, LED lights are expected to possess 40% of market share for automotive lighting.
The market is moderately competitive in nature, with the presence of a large number of players operating in the space. Introducing latest technologies in the market is a key expansion strategy, as are collaborations with OEMs and maintaining long-term relations with them for future business prospects.
- In December 2020, OSRAM Licht AG introduced the Ostune E1608 and E3030 automotive interior lighting, offering a wide color temperature range from 2700 to 6500 K, which are highly energy-efficient
- Likewise, in September 2021, HELLA KGaA introduced a new Modular Lightbar equipped with advanced LED technology for municipal vehicles. This light helps ensure optimum signalling effects as well as homogeneous illumination of the working area
Market size value in 2020
|USD 25 Billion|
Market forecast value in 2031
|USD 45 Billion|
|CAGR of 6% from 2021 to 2031|
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- Front Headlights
- Fog Lights
- Rear Lights
- Side Lights
- Interior Lights
- Automotive Lighting for Passenger Cars
- Automotive Lighting for Light Commercial Vehicles (LCVs)
- Automotive Lighting for Heavy Commercial Vehicles (HCVs)
- Automotive Lighting for Electric Vehicles
- Automotive Lighting for Two Wheelers
- Halogen Automotive Lighting
- Xenon Automotive Lighting
- LED Automotive Lighting
- Automotive Lighting through OEMs
- Automotive Lighting through Aftermarket
- FAQs -
As of 2021, the market for automotive lighting will reach US$ 25 Bn according to Fact.MR
The automotive lighting industry is expected to surpass a CAGR of 6% from 2021-2031.
The automotive lighting market is expected to reach nearly US$ 45 Bn by 2031
Longer lifespan, enhanced performance, improved security, and sleek designs and the use of the same in the automotive sector on a large scale are the key trends driving automotive lighting sales.
The U.S automotive lighting industry is expected to account for 40% of global market demand
Automotive lighting demand in China is expected to account for 60% of the global demand
According to Fact.MR, demand for automotive lighting is expected to capture 58% of global market demand
Osram Licht AG, Hella Kgaa, Infineon Technologies AG, LG Electronics, Valeo SA, Marelli Magnetti, Hyundai Mobis, Varroc, Koito Manufacturing Co. Ltd and Robert Bosch GmbH are prominent automotive lighting market players.
LED lights are expected to hold the highest share for sales, expanding at over 40% of market share for automotive lightning.
Passenger vehicles are expected to capture almost 50% of market share for automotive lighting.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
Automotive PTC Heater Market research report covers detailed information on Global Automotive PTC He...
Automotive front end module is set to expand at a CAGR of 5.1% during the period of forecast, 2017-2...
Metal Matrix Composites Market to reach a valuation of US$ 630 million by 2031. Powder metallurgy pr...