Automotive Lighting Market Revenue to close at USD 45 billion by 2027
Posted On August 11, 2021
The Global Automotive Lighting Market is foreseen to grow at a remarkable CAGR of 5% during the year 2021-2027 as estimated by the report from Value Market Research wherein the market value is expected to grow to USD 45 billion by 2027. The increasing demand for premium segment vehicles is primarily driving the market growth. High demand for adaptive lighting is again accelerating market growth. Along with this, lighting regulations for better visibility and safety are further accelerating the demand. However, the high cost of LED lights and low penetration of advanced lighting in hatchback, compact sedan, and entry-level SUV is expected to hamper the market growth. Whereas, the evolution of new technologies in automotive lighting is likely to create potential opportunities over the forecast period.
Automotive lighting refers to the lighting system of a motor vehicle, which consists of the lighting or signaling devices integrated on the sides, front, rear, and top of the vehicle. The lightings help in increasing the visibility of the vehicles for the driver. Moreover, it allows a pedestrian and driver to see a vehicle’s presence, position, size, direction of travel, and also the intentions of the driver regarding the direction and speed of travel.
The geographical and segmentation study covered in the report "Global Automotive Lighting Market Report By Technology (LED, Halogen And Xenon), Vehicle Type (Passenger Cars, Commercial Vehicles And Two-Wheelers), Application (Front Lighting/Headlamps, Rear Lighting, Interior Lighting And Side Lighting) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" helps in understanding the upcoming trends of the market.
On the basis of technology the market is segmented into LED, Halogen And Xenon. By vehicle type the automotive lighting market is categorised as Passenger Cars, Commercial Vehicles And Two-Wheelers.By application the automotive lighting market is categorised as Front Lighting/Headlamps, Rear Lighting, Interior Lighting And Side Lighting. Geographically the research study provides data on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. This section provides the estimates of market by segment, thus providing valuable data to take strategic decisions.
The Report Segments Global Automotive Lighting Market -
- Front Adaptive lighting
- Rear Adaptive Lighting
- Ambient Lighting
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicles
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
DENSO Corporation, Hella KGaA Hueck & Co., Hyundai Mobis, Koito Manufacturing Co. Ltd., Koninklijke Philips N.V., Osram Licht AG, ROBERT BOSCH GmbH, Stanley Electric Co. Ltd., Valeo, and Zizala Lichtsysteme GmbH.
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