Search Market Research Report
Automotive Lighting Market Size, Share Global Analysis Report, 2021 – 2026
Automotive Lighting Market By Application (Front Lighting, Side Lighting, Rear Lighting, & Interior Lighting), By Technology (LED, Halogen, & Xenon), By Vehicle Type (Passenger Cars & Commercial Vehicles), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026
Industry Insights
[212+ Pages Report] The latest finding surrounding the “Global Automotive Lighting Market” published by Facts & Factors offers a neatly packaged and comprehensive read. We at Facts & Factors estimated the global automotive lighting market to reach a value of USD 35.4 Billion by 2026 with a growth rate of 4.9% CAGR from an initial value of USD 26.7 Billion in the year 2020.
Key Insights from Primary Research
- As per the primary research, the automotive lighting market is likely to grow at a rate of 6%.
- In terms of revenue, the U.S. automotive lighting market was valued at USD 3,300 Million in 2019 and is expected to reach USD 4800 Million by the end of 2026.
- Continuous launching of new advanced products by manufacturers will be the key strategy to sustain in the competition
- Valeo, Hella, Koito and Hyundai IHL are some of the key players to watch
- The Asia Pacific is expected to be the most lucrative market for the manufacturers as well as for investors
Key Recommendations from Analysts
- As per our analysis, the automotive lighting market is expected to reach USD 28,754 Million by 2026.
- The passenger vehicle segment is expected to maintain a major share over the forecast period with a value share of 61.60% by 2026. The segment is estimated to grow at a CAGR of 5.41% during the forecast period.
- Companies adopted new product development and collaborations as the key growth strategy from 2020to 2026
- Based on the type of lighting, LED is estimated to be the most attractive segment and is expected to grow at a CAGR of 6.38% from 2020 to 2026.
- The Asia Pacific is expected to maintain its dominance throughout the analysis period.
Market Attractiveness Analysis: By Vehicle Type
Market Overview
Automotive lighting systems are the set of equipment that are installed in automobiles for enhancing visibility in low-light areas that are often required for ensuring the safety of pedestrians and other drivers. Additionally, the integration of brake lights and indicators acts as a viable method for alerting passengers about vehicle passengers and traveling the moving vehicle. Automotive lighting installments are often installed inside the cabin of the car which helps the user detect and modify stuff in the dark.
Industry Growth Factors
The primary driving forces for the significant growth of the global automotive lighting market can be contributed to rising sales pertaining to premium and SUV sales coupled with advancements in lighting technology to name a few.
Additionally, the rising number of road accidents coupled with the rising adoption of new technology is expected to increase the footprint of the global automotive lighting market during the advent of the forecast to a higher boundary. Moreover, the rising number of regulatory norms implemented by various governing bodies coupled with the integration of high beams headlights is expected to boost the growth of the global automotive lighting market during the advent of the forecast period.
The global automotive lighting market is expected to be driven by the rising number of reliable vendors and OEMs coupled with rising demands for pedestrian safety to name a few. Factors pertaining to the rising number of commercial & passenger vehicles coupled with the integration of ADAS with amplified lighting measures are expected to boost the growth of the global automotive lighting market during the advent of the forecast period. However, a higher cost of LED lighting is expected to decrease the growth of the global automotive lighting market during the advent of the forecast to some extent.
Segmentation Analysis
The global automotive lighting market is segmented into application, technology, vehicle type, and region.
On the basis of application, the global automotive lighting market is divided into front lighting, side lighting, rear lighting, and interior lighting. The front lighting segment is expected to witness the largest market share during the advent of the forecast owing to the continuous development cycle in the headlamp sector coupled with the rising adoption of LED headlamps when compared to its counterparts. Based on technology, the global automotive lighting market is categorized into LED, halogen, and xenon.
The segment pertaining to LED is expected to witness the largest market share during the advent of the forecast owing to lower power consumption and higher power output when compared to its counterparts to name a few. On the basis of vehicle type, the global automotive lighting market is fragmented into passenger cars and commercial vehicles. From, the passenger cars segment is expected to occupy the largest market share during the advent of the forecast owing to rising sales and production of passenger cars coupled with rising consumer inclination toward SUVs and crossovers to name a few.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 26.7 Billion |
Projected Market Size in 2026 |
USD 35.4 Billion |
CAGR Growth Rate |
4.9% CAGR |
Base Year |
2020 |
Forecast Years |
2021-2026 |
Key Market Players |
Hella, Osram, Valoe, Continental, Philips, Bosch, Hyundai Mobis, Varroc Group, Hella, Denso, Lear Corporation, Magnetic Marelli, Stanley Electric Co. Ltd., Zizala Lichsysteme, and Samsung Electronics, among others. |
Key Segments |
Application, Technology, Vehicle Type, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Purchase Options |
Request customized purchase options to meet your research needs. Explore purchase options |
Regional Analysis
Europe is expected to witness the largest market share during the advent of the forecast owing to rising norms imposed by the regulatory bodies in the region coupled with the early adoption of advanced automotive lighting techniques to name a few. Additionally, the rising number of interior lighting products coupled with a well-established automobile sector is expected to increase the footprint of the automotive lighting market during the advent of the forecast period. The rising number of key market participants in the region coupled with an increasing amount of premium and luxurious automobiles is expected to fuel the growth of the automotive lighting market during the advent of the forecast period. The rising number of mergers & acquisitions coupled with rising export figures is further expected to increase the consumer base for the automotive lighting market during the forecast period.
Competitive Players
The key market participants in the automotive lighting market are:
- Hella
- Osram
- Valoe
- Continental
- Philips
- Bosch
- Hyundai Mobis
- Varroc Group
- Hella
- Denso
- Lear Corporation
- Magnetic Marelli
- Stanley Electric Co. Ltd.
- Zizala Lichsysteme
- Samsung Electronics
By Application Segment Analysis
- Front Lighting
- Side Lighting
- Rear Lighting
- Interior Lighting
By Technology Segment Analysis
- LED
- Halogen
- Xenon
By Vehicle Type Segment Analysis
- Passenger Cars
- Commercial Vehicles
By Regional Segment Analysis
- North America
- U.S.
- Canada
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Table of Content
Industry Major Market Players
- Hella
- Osram
- Valoe
- Continental
- Philips
- Bosch
- Hyundai Mobis
- Varroc Group
- Hella
- Denso
- Lear Corporation
- Magnetic Marelli
- Stanley Electric Co. Ltd.
- Zizala Lichsysteme
- Samsung Electronics
Copyright © 2023 - 2024, All Rights Reserved, Facts and Factors