Chicago, February 26, 2024 (GLOBE NEWSWIRE) – Automotive Lighting Market Projected to Grow from an Estimated $22.5 Billion in 2023 reach $30.4 billion by 2030 at a CAGR of 4.4%, according to a new report from MarketsandMarkets.
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507 – Tables
59 – Figures
378 – Pages
| Report attributes | Details |
| Market size value in 2023: | $22.5 billion |
| Projected to reach 2030: | 30.4 billion dollars |
| CAGR: | 4.4% |
| Forecast period: | 2023-2030 |
| Largest market: | Pacific Asia |
| Region covered: | Asia Pacific, North America, Europe and rest of the world |
| Segments covered: | Technology (halogen, LED, xenon), position and application (front, rear, side, interior), adaptive lighting, electric vehicle, position type and two-wheeler region |
| Companies covered: | Koito Manufacturing Co., Ltd. (Japan), Magnetic Marelli (Italy), Valeo SA (France), HELLA GmbH & Co. KGaA (Germany) and Stanley Electric Co., Ltd (Japan). |
Car manufacturers are highly focused on developing new and innovative lighting to increase aesthetic appeal and safety for the driver and other road users. Automotive lighting is an integral part of every vehicle and significantly ensures safety, aesthetic appeal and visibility. Lighting innovation OEMs create a range of concepts for the indoor and outdoor use of LED technology. Almost all OEMs have incorporated LED technology into today's vehicles. LED daytime running lights and taillights have been introduced on several vehicles, and the latest LED matrix headlights offer far superior features in terms of functionality and design. Recently, all high-end four-wheelers are usually equipped with LED lighting, which is also anticipated to boost the overall market growth.
“Outdoor lighting will remain the dominant application over the forecast period.”
Outdoor lighting application is projected to lead the automotive lighting industry during the review period. The growth of the segment is mainly attributed to the mandatory installation of various lighting components such as headlights, taillights, turn signals, central high-mounted brake lights (CHMSL), stop/reverse lights and license plates in almost all vehicle categories. vehicles. Additionally, continued advancements in front and rear lighting technologies and government mandates to install daytime running lights (DRLs) and adaptive lighting will drive growth in this segment. Adaptive outdoor lighting technologies are gaining ground during the forecast period. This lighting improves the visibility of vehicles at a low-light intersection with the help of sensors that help detect the steering angle based on the vehicle's direction of travel. For example, the European Union mandated the installation of commercial and passenger vehicles. Additionally, passenger cars produced in Japan and Canada must also be equipped with DRL lights, and other countries such as the US, China, India and South Korea have noted significant adoption of LED DRLs and fog lights from mid-range to high-end. premium. cars. Therefore, advanced technologies such as auto start/stop, high beam assist in the headlights, and taillight signaling functions help communicate with the driver and his surroundings while driving. Therefore, such advancement in exterior lighting is transforming the overall automotive lighting market, which will drive this market in the coming years.
“LED will be the fastest growing automotive lighting technology by 2030.”
The LED lighting market will become a prominent technology in the automotive industry by the end of 2030 as it is more efficient than other technologies and useful for adaptive lighting functions. Due to this, LED headlights and taillights have seen an increase in demand in the passenger vehicle segment. On the other hand, mid-priced cars are being installed with hybrid lighting, which combines halogen and LED lighting. Additionally, certain government regulations encourage the use of LED lighting. For example, in February 2022, the U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) issued a final rule allowing automotive OEMs to install adaptive high beam headlights on vehicles. of new production.
Additionally, advancements in LED technologies such as OLED and Matrix LED are prominently available in high-end automobiles for headlight applications; However, they are expected to see notable adoption in mid-range cars, especially in developing countries. In addition to exterior applications, adoption of LEDs for dashboards, glove box and dome lights is growing rapidly. Major OEMs such as Hyundai, Toyota, Volkswagen, BMW and Nissan, among others, have adopted LED technology in interior and exterior applications to enhance vehicle appearance. Some major commercial vehicle manufacturers, such as Daimler, Volvo, Scania and MAN Trucks, among others, offer LED headlights in some heavy truck segments. Therefore, the expanded range of LED technology lighting with design flexibility and the shift in consumer inclination towards LED technology will drive the adoption of LED technology in the coming years.
“Europe is the second largest automotive lighting market.”
Europe is estimated to remain the second largest region in the automotive lighting market. The region's growth is primarily driven by strict government regulations and the presence of prominent OEMs and Tier 1 suppliers investing in advanced technology to improve vehicle and passenger safety. For example, European authorities have mandated the use of daytime running lights (DRL) for almost all types of vehicles. These European Union regulations have forced automotive OEMs to incorporate advanced lighting systems. The European Union has set a goal of reducing road deaths by 50% by 2030, and advanced automotive lighting solutions are seen as a key technology to achieve this goal.
Regarding the analysis by country, it is estimated that Germany represents the majority of the European automotive lighting market. Passenger cars of class C and above represent around 90% of the total passenger cars produced in Germany. Demand for trendy LED technology in headlights, taillights and cabin lighting is greatest in premium sedans, coupes and mid-size and large SUVs. Other major EU countries, including Spain, France and the United Kingdom, have higher adoption of luxury cars. LED technology is seeing greater adoption in these vehicles due to specific advancements in this technology, such as matrix LEDs, OLEDs, and adaptive headlights that adjust the light beam based on driving conditions, improving visibility without dazzling oncoming traffic. Wrong Way. The technology provides flexibility to create many new design possibilities, allowing for functional and aesthetic adjustments in numerous ways. Because of this, top-tier suppliers such as OSRAM, Magnetic Marelli and Hella offer this technology to automakers such as AUDI, BMW and Mercedes-Benz as a standard feature.
Similarly, the development and adoption of intelligent automotive lighting systems with ADAS technology, such as headlights that respond to steering angle, suspension movements, road curvatures and forward traffic, is increasing in the region. This will boost market demand for adaptive headlights. These features are gaining popularity in Mercedes-Benz, Audi, Volvo, Volkswagen and other passenger car models. European legislation focuses on reducing fatalities by promoting the inclusion of these safety systems in vehicles. Other light commercial vehicles offered by OEMs such as Mercedes-Benz and Volkswagen incorporate advanced lighting systems, including LED headlights to improve visibility and energy efficiency. These factors will drive the region's demand for the advanced automotive lighting market.
Key market players
He Automotive lighting companies They are Koito Manufacturing (Japan), Magnetic Marelli (Italy), Valeo (France), HELLA GmbH & Co. KGaA (Germany) and Stanley Electric (Japan).
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