Automotive Lighting Market Size By Technology (LED, Halogen, Xenon), By Vehicle Type (Passenger Cars, Commercial Vehicles, Two-Wheelers), By Application (Interior Lighting, Side Lighting, Rear Lighting, Front Lighting/Headlamps), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jul 2020  |  Report ID: GMI1444  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 150   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Automotive Lighting Market size valued at USD 30.5 billion in 2019 and will grow at a CAGR of over 4.5% between 2020 and 2026. Growing production of automobiles in the passenger and commercial vehicles will drive the industry growth.
 

The growing trend of installing technologically advanced automotive lights to enhance the aesthetic features of vehicles along with the increasing demand from OEMs & aftermarket distributors will provide a positive outlook to the market revenue. Moreover, increasing consumer disposable income coupled with high inclination toward spending on additional features such as proximity sensing automotive lighting systems is contributing to the market growth.
 

Automotive Lighting Market
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Rising concerns related to passenger and vehicle safety on road will propel the demand for advanced automotive lighting solutions. The increasing number of road accidents is encouraging government authorities to amend road safety acts.
 

Factors impacting the market growth include fluctuating raw material costs and dynamic changes in the technology landscape of the automotive lighting ecosystem. Varying trade regulations in Asia Pacific, Europe, and North America will affect the raw material prices and sourcing strategies of market players. However, automotive lighting manufacturers are focusing on establishing long-term partnerships with suppliers to overcome these industry challenges. Rapid changes in lighting technologies are also contributing to the fluctuating revenues of industry players.
 

Furthermore, the COVID-19 pandemic, since the beginning of 2020, is impacting the growth of the automotive lighting market. The pandemic has severely hampered the automobile industry globally. Several passenger and commercial vehicle manufacturers are facing a decline in sales of new vehicles. This, in turn, has led to slow growth in the demand for automotive lighting systems. The market is also expected to be hampered in 2020 owing to shifting consumer preferences toward purchasing essential commodities as opposed to high-cost goods such as automobiles.
 

Automotive Lighting Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 30.5 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.5% 2026 Value Projection: 38.5 Billion (USD)
Pages: 150 Tables, Charts & Figures: 153
Geographies covered (13): U.S., Canada, UK, Germany, France, Italy, China, India, Japan, South Korea, Brazil, Mexico, South Africa
Segments covered: Technology, Vehicle Type, Application
Companies covered (14): General Electric Company, HELLA GmbH & Co. KGaA, Hyundai MOBIS, Koito Manufacturing Co. Ltd., Magneti Marelli S.p.A., Namyung Lighting, OSRAM Group, Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Stanley Electric Co. Ltd., Valeo, Varroc Group, ZKW Group
Growth Drivers:
  • Growing concerns about road safety across the globe
  • Implementation of government regulations pertaining to drivers safety
  • Flourishing automotive industry across Asia Pacific
  • Increasing production of luxury vehicles in Germany
  • Rising adoption of LEDs in vehicles across the U.S.
  • Increasing demand for advanced automotive lighting in Asia Pacific owing to rising consumer disposable income
Pitfalls & Challenges:
  • Tariff & trade barriers in the U.S.
  • High R&D expenditure & complexity in developing LED lighting
  • Rising raw material cost & instability of lighting systems

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Growing adoption of LEDs in interior lighting and headlamps

The LED technology segment share was over USD 7.5 billion in 2019 and is expected to witness 7% growth through 2026, led by rising integration of LEDs in headlamps and interior lighting in automobiles. Several advantages offered by LEDs including low-power consumption, enhanced durability, and power output are proliferating their demand in automotive lighting systems.
 

Market leaders are focusing on launching new products in the LED segment to cater to the increasing industry demand from OEMs and aftermarket. For instance, in December 2018, Osram launched its new LED automotive lighting series. The series features headlamps with integrated LED technology, daytime running mode, turn indicators, low-beam, high-beam, and position lights.
 

Rising integration of automotive lighting with driver assistance systems in passenger cars

Automotive Lighting Market Size

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According to the analysis, automotive lighting market from passenger vehicles is projected to see around 5.5% growth rate till 2026. Car manufacturers are investing huge amounts in R&D activities to integrate lighting solutions with driver assistance systems and proximity sensors to enhance the safety and visibility for drivers and passengers.
 

Growing implementation of advanced lighting in vehicle interiors

The interior lighting application held over 10% market revenue share in 2019 and is predicted to reach USD 5 billion by 2026. The increasing implementation of automotive lighting in vehicle interiors to provide ambient lighting features will augment the market demand. Owners of high-end luxury cars and modern passenger cars prefer to integrate interior lights sensitive to movement and surroundings. Interior lights are also integrated into commercial vehicles, such as buses, to provide better visibility to passengers.
 

Increasing demand in Europe due to the presence of automobile OEMs

Europe Automotive Lighting Market Share

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The Europe automotive lighting market revenue crossed USD 8 billion in 2019 due to the presence of several automobile manufacturers, such as BMW, Volkswagen, Mercedes, and Volvo. Manufacturers including Osram, Samsung, and Philips focus on establishing long-term contracts with European automobile manufacturers to enhance their business expansion.
 

Strategic partnerships and new product launches to drive market revenues

Market players are focusing on strategic partnerships and collaborations with other industry participants to develop innovative technologies for the market. For instance, in September 2019, Nichia Corporation entered a partnership with Infineon Technologies to develop high-density auto headlamps based on microLED technology. The companies plan to launch these products in the commercial market by 2022. Other key strategies adopted by the players include new product launches and geographic expansion of their business operations.
 

Key players operating in the automotive lighting market include Valeo, Hyundai Mobis Co., Ltd., Varroc, Osram Group, Samsung Electronics, HELLA GmbH & Co. KGaA, General Electric, Magneti Marelli S.p.A., and Koninklijke Philips N.V.
 

This market research report on automotive lighting includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2020 to 2026 for the following segments:

Market, By Technology Type

  • LED
  • Halogen
  • Xenon

Market, By Vehicle Type

  • Passenger cars
  • Commercial vehicles
  • Two-wheelers

Market, By Application

  • Interior lighting
  • Side lighting
  • Rear lighting
  • Front lighting/headlamps

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa

 

Frequently Asked Questions (FAQ) :

The market size of automotive lighting surpassed USD 30.5 billion in 2019.
The industry share of automotive lighting is anticipated to grow at 4.5% CAGR between 2020 to 2026.
Global demand for automotive components has been disrupted with the shutdown of many auto plants due to COVID-19 and the considerable drop in sales of commercial as well as passenger vehicles.
Interior applications contributed around 10% of automotive lighting industry revenues in 2019 due to the need for ambient lighting in modern cars and integration of interior lights in commercial vehicles.
LED-based automotive lighting accounted for USD 7.5 billion of the total market share in 2019, owing to benefits offered like better durability, enhanced power output and low power consumption.
The market share from passenger vehicles will register 5.5% CAGR through 2026, as automakers look to integrate innovative lighting solutions with ADAS and proximity sensors to improve road safety.
The presence of leading carmakers like Volvo, Volkswagen, BMW, Mercedes and their partnerships with lighting manufacturers will drive Europe automotive lighting market, valued at USD 8 billion in 2019.
Prominent lighting manufacturers include Samsung Electronics, Osram Group, General Electric, Koninklijke Philips N.V., Hyundai Mobis, Magneti Marelli S.p.A. and Valeo, among others.

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Premium Report Details

  • Published Date: Jul 2020
  • Pages: 150
  • Tables: 133
  • Charts / Figures: 20
  • Companies covered: 14
  • Countries covered: 13

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