The global automotive lighting market size was valued at USD 18.00 billion in 2018, and is projected to reach USD 29.86 billion by 2027, registering a CAGR of 6.9% from 2020 to 2027. The rear lighting segment was the highest contributor to the market, with $5.61 billion in 2018, and is estimated to reach USD 9.53 billion by 2027, at a CAGR of 6.5% during the forecast period.
Lighting plays an important role in automotive vehicles to provide illumination for the driver. In addition, lighting systems also help other drivers and pedestrians on the road to detect the vehicle’s position, direction of movement, and size. It adds aesthetic looks to both interior and exterior parts of the vehicle and at the same time increases the conspicuity of the vehicle. It comprises lighting and signaling devices. These lighting equipment are mounted on different locations in the vehicle such as front, rear, top, and interiors. Traditionally, halogen, being a low cost and easily available technology, is the majorly used lighting technology and includes xenon and LED as the other prominent lighting technologies. Increase in concerns regarding road safety and government regulations for lighting are the major factors that drive the demand for lighting equipment. In addition, the factors such as increase in disposable incomes and improvement in lifestyle and transportation requirements are contributing to the increase in the production of vehicles, which, in turn, fuels the demand for automotive lighting.
The factors such as growth in emphasis toward road safety, implementation of stringent government regulations, and rise in automobile production drive the growth of the automotive lighting market. However, high cost of LEDs is expected to restrain the automotive lighting market growth. Furthermore, rise in demand for automotive in developing nations is anticipated to provide a remarkable growth opportunity for the players operating in the market.
The key players including 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 holds the major automotive lighting market share.
Growing emphasis toward road safety
The demand for safety features along with adaptive lighting system has increased due to increase in number of road accidents worldwide. Vehicles with adaptive and advanced lightings can detect objects on the road, thereby enabling the driver to take appropriate actions required. Furthermore, increase in concern regarding road accidents, globally, fuels the demand for better safety features in vehicles eventually leading to the installation of efficient lighting systems; thereby, providing optimum road illumination. Automotive lights are primarily installed to enhance the visibility in harsh environments and to improve the vehicles conspicuity in critical conditions.
According to World Health Organization’s report, nearly 1.25 million people die in road accidents each year. Moreover, road traffic injuries leading to death are higher among teenagers. These factors are leading to the growing demand for adaptive and better lighting system in vehicles. Automobile companies are developing and introducing new lighting system equipped with different features such as communicating to the pedestrians to ensure safety and to meet the needs of the customers. Thus, growing emphasis toward road safety is expected to drive the growth of the automotive lighting market.
Implementation of Stringent Government Regulations
Insufficient visibility was the prominent factor that accounted for increasing number of road accidents, globally. Governments across the world have formulated effective regulations pertaining to the use of lighting systems in automobiles. The European Union mandates the use of Daytime Running Lights (DRL) due to unfavorable weather conditions in this region. Presently, 17 countries in Europe have formulated effective legislations related to the installation of DRLs. Since 2011, in European countries Daytime Running Lights (DRL) have mandated for the cars, small delivery vehicles, buses, and trucks. The MVSA (Motor Vehicles Safety Act) in Canada mandated the use of DRLs in all vehicles. Additionally, numerous countries are taking active initiatives to curb CO2 emission levels in vehicles. Thus, implementation of stringent government regulations for the safety and security across the globe is anticipated to boost the growth of the automobile lighting market.
High cost of LED lights
Halogen, xenon, and LED lights are commonly used lighting technologies in automotive industry. Application of LED in headlights, rear lights, and in interior lighting is prominently increasing due to the associated benefits including reduced power consumption, cooler temperatures, and the longer self-life of LED lights. However, with the installation of LEDs in automobiles, a lot of heat is dispersed to the emitters, which can be controlled only with the installation of other equipment. This eventually increases the cost for LED lights to be used in automobiles; thereby, restraining the growth of the automotive lighting market during the forecast period.
Increase in demand for advanced technology in vehicle
With increased production and sales of vehicle across the globe, the demand for vehicles equipped with advanced technology has increased. This has led the vehicle manufacturers to develop and install latest components in the upcoming vehicle models. For instance, companies such as Hella KGAA HUECK & Co. is developing and introducing new lighting system equipped with different features such as communicating to the pedestrians to ensure safety and to meet the needs of the customers. Developing countries such as Brazil, Russia, India, and China (BRIC) are witnessing a rapid growth in the sales of automobiles. Furthermore, growth in urban population, improvement in income levels, and changing in lifestyles are the factors that supplement the automotive lighting market growth. Automobile manufacturers across the globe have an increased focus toward manufacturing the vehicles equipped with advanced components technology such as advanced driving system, adaptive lighting system, and various other systems, which ensure safety and increase the comfort while driving. This has led to the use of better and efficient lighting system for automobiles. Thus, the rising demand for automotive in developing nations has led to the growth of automotive lighting market; thereby, enabling the manufacturers across the globe to adapt new strategies to introduce new lighting products for the safety of passengers.
By Vehicle Type
By Product Sale
The Automotive Lighting market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Automotive Lighting market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Automotive Lighting market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Automotive Lighting market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Automotive Lighting market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Automotive Lighting capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Automotive Lighting by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Automotive Lighting market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Automotive Lighting market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Automotive Lighting market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Automotive Lighting industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Automotive Lighting market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Automotive Lighting market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Automotive Lighting market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Automotive Lighting market. These factors have benefited the growth of the global market for Automotive Lighting. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Automotive Lighting. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Automotive Lighting are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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