Automotive Lighting Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Published on : May-2021 | List of Tables : 56 | List of Figures : 119 | No. of Pages : 170 | Report Code : FACT4795MR |

About the Report

The global automotive lighting market is projected to expand at over 6% CAGR from 2021 to 2031, with demand for front lights and their components remaining high. Demand for automotive lighting has witnessed substantial growth in the last few years due to increase in number of on-road vehicles and rise in global vehicle production. In its new study, Fact.MR offers insights about key factors fueling the demand for lighting technologies in the automotive industry. The report tracks global sales in 20+ high-growth markets, where East Asia leads the way by far, followed by Europe and South Asia & Pacific market. The report also analyzes the impact COVID-19 has had on the automotive industry in general, and on the demand for automotive lighting solutions in particular.

What is the Future Outlook on Automotive Lighting in Comparison to Historic Sales?

The automotive lighting industry has been through various transformations, which are mostly related to innovations in lighting solutions. Automotive lighting solutions have evolved in terms of appearance, size, and application in every vehicle, as automotive manufacturers are constantly trying to adapt to the latest technological trends taking place in the industry.

Technologies and innovations such as laser beam lights, OLEDs (organic light emitting diodes) and LED matrix headlights are now being used in vehicles. In 2018, Volkswagen partnered with Hella KgaA Heuck Co. Ltd to develop IQ Light LED Headlamps. These headlamps enhance safety and comfort as they have a front digital camera that analyzes road conditions and also spots oncoming vehicles, which is useful for drivers as well as for other vehicles.

Owing to the ongoing crisis caused by COVID-19, production and supply chain activities have seen a decline, yet, the market will revive post COVID-19. The COVID-19 pandemic has had a severe impact on the global economy at various levels, and the impact is seen on the manufacturing industry as well. With a number of end users affected in regions such as North America, East Asia, and South Asia & Pacific, supply and shortage in demand are expected to result in significant drop in Y-O-Y growth. Yet, Fact MR expects the global automotive lighting market to expand at over 6% CAGR through 2031.

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 centers.

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 Impacting 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.

automotive lighting market

Country-wise Insights

Why is the U.S. a Lucrative Market for Automotive Lighting Manufacturers?

Fact Market Research 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. Manufacturers are striving to provide a safe experience to car owners and are trying to develop new technologies for future vehicles.

Moreover, U.S. automotive manufacturers try to constantly adapt 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. 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. Vehicle production in the U.S. is high and is increasing, which is also a major factor contributing the growth of the market.

What’s the Outlook for China’s Automotive Lighting Industry?

The Chinese market for automotive lighting equipment is expected to increase 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. The Chinese market suffered a slowdown due to COVID-19 pandemic, but the market is slowly gaining mobility globally. China’s market is increasing 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.

Why are Automotive Lighting Sales Surging in India?

The Indian automotive market 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 aftermarket plays a crucial role for lighting manufacturers, as the condition of roads in India often can cause injuries.

Will Japan Remain a Good Market for Automotive Lighting Suppliers?

Japan has many major manufacturers of automotive lighting such as Koito Manufacturing Co. Ltd. Japan also exports electronic components to different countries. The market has seen growing demand for electric vehicles due to emission regulations by various authorities. Improving the environmental performance of vehicles and contributing to decrease of harmful gases are important factors driving the electric vehicle market in Japan. The country is promoting Japanese automakers to leverage their strengths and tackle global climate change with increase in production of electric vehicles. This growing demand for electric vehicles is accelerating the demand for automotive lighting equipment in Japan.

Category-wise Insights

Which Vehicle Type Drives Most Demand for 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, as such, heightening demand for automotive lighting.

Which Type of Light is Most Popular among Manufacturers?

The market has LED, halogen, and xenon as the main types of light sources for manufacturers. Halogen and xenon lights are used on a large scale by manufacturers as they are cheap. But these lights have a drawback - they do not have the expected lifespan, and hence, need replacement often. LED lights have an average lifespan more than halogen lamps. 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.

Competitive Landscape

The market is moderately competitive in nature, with the presence of a large number of players operating in the space. Some of the players are focusing on gaining maximum market share by introducing latest technologies in the market through research & development. Lighting manufacturers are also doing strategic collaborations with OEMs and maintaining long-term relations with them for future business prospects. Many big players are using mergers & acquisitions as a key strategy for expanding their geographical presence and for more business in terms of revenue, such as Magnetti Marelli, which operates under the name Marelli, and was acquired by Calsonic Kansei Corporation, a leading automotive component supplier.

Some of the leading companies manufacturing automotive bulbs and lighting solutions are:

  • Osram Licht AG
  • Hella KgaA Heuck Co. Ltd
  • Infineon Technologies AG
  • LG Electronics
  • Valeo SA
  • Marelli Magnetti
  • Hyundai Mobis
  • Varroc
  • Koito Manufacturing Co. Ltd
  • Robert Bosch GmbH

 *The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Million for Value and Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • the Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Germany
  • Brazil
  • Mexico
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • New Zealand
  • Australia
  • Iran
  • Turkey
  • South Africa

Key Segments Covered

  • Application
  • Vehicle
  • Light Source
  • Sales Channel
  • Region

Key Companies Profiled

  • Osram Licht AG
  • Hella Kgaa
  • Infineon Technologies AG
  • LG Electronics
  • Valeo SA
  • Marelli Magnetti
  • Hyundai Mobis
  • Varroc
  • Koito Manufacturing Co. Ltd
  • Robert Bosch GmbH

Report Coverage

  • Market Forecasts
  • Brand Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Market Segmentation by Category

  • By Application
    • Front Headlights
    • Fog Lights
    • Rear Lights
    • Side Lights
    • Interior Lights
  • By Vehicle Type
    • 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
  • By Light Source
    • Halogen Automotive Lighting
    • Xenon Automotive Lighting
    • LED Automotive Lighting
  • By Sales Channel
    • Automotive Lighting through OEMs
    • Automotive Lighting through Aftermarket
  • By Region
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa

Key Questions Answered in Report

  • Q1. Which is the most lucrative market for automotive lighting?

    East Asia currently leads the global market for automotive lighting. Sales in East Asia will be around 32% of the total global market share by 2031. Demand for automotive bulbs and automotive LEDs is rising rapidly across the region.

  • Q2. Which vehicle type leads demand for automotive lighting?

    Passenger cars are the top vehicle type in automotive lighting. Increase in spending power of the population in many regions is the main reason for growing sales of passenger vehicles.

  • Q3. Which is the most lucrative application for automotive lighting?

    Automotive lighting is widely used in passenger cars, heavy commercial vehicles, light commercial vehicles, electric vehicles, and two wheelers.

  • Q4. Which are some of the leading automotive lighting manufacturers?

    Some of the leading companies manufacturing automotive lighting are Hella KgaA Heuck Co. Ltd, Valeo SA, Koito Manufacturing Co. Ltd, Infineon Technologies AG, Varroc Group, Magnetti Marelli, and Hyundai Mobis.

Enquiry Before Buying

  • Is the market research conducted by Fact.MR?

    Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Fact.MR?

    Fact.MR follows a methodology that encompasses the demand-side assessment and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

  • Who are the respondents for primary research?

    Fact.MR speaks to stakeholders across the spectrum, including C-level executives, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

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Automotive Lighting Market – Report Scope

Fact.MR recently published a report on the automotive lighting market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the market structure. This market research report presents exclusive facts and figures about how the automotive lighting market will grow over the forecast period of 2021 to 2031.

Key indicators of market background, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in Fact.MR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the market over the forecast period.

The study is relevant for stakeholders in the market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand the applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the automotive lighting market can leverage the information and statistics presented in this research report.

The report includes facts and figures related to the macro- as well as micro-economic factors that are impacting market growth. The study also offers actionable insights based on the future trends in the automotive lighting market. Furthermore, regional players and new entrants in the market can also use the information presented in this report to make business decisions and gain momentum in this space.

Key Market Segments

Application
  • Front Headlights
  • Fog Lights
  • Rear Lights
  • Side Lights
  • Interior Lights
Vehicle
  • Passenger Cars
  • Light Commercial Vehicles (LCVs)
  • Heavy Commercial Vehicles (HCVs)
  • Electric Vehicles
  • Two Wheelers
Light Source
  • Halogen
  • LED
  • Xenon
Sales Channel
  • OEMs
  • Aftermarket
Region
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • MEA

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”

Analysis on Market Size Evaluation

The market has been analyzed for each market segment in terms of value (US$ Bn) and volume (Kilo Tons).

Market estimates at global and regional levels for automotive lighting are available in terms of “US$ Bn” for value and “Kilo Tons” for volume. A Y-o-Y growth contrast on prominent PBAT segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global automotive lighting market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on demand for automotive lighting has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for emerging countries has also been included in the report.

In-depth Analysis on Competitive Landscape

The report sheds light on the leading manufacturers of automotive lighting, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of automotive lighting has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolio and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the global automotive lighting market.  

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Automotive Lighting Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031