Automotive Lighting Market

Automotive Lighting Market to
be Worth $31.45 Billion by 2030

Automotive Lighting Market - 2030
Meticulous Research ® —a leading global market research company, published a research report titled,
‘Automotive Lighting Market by Vehicle Type (2-Wheelers, Passenger Vehicles, Commercial
Vehicles), Application (Interior, Exterior (Headlamps, Fog Lamps, Tail lights)), Lighting
Technology (Halogen, Xenon, LED), Geography—Global Forecasts to 2030.’
According to this latest publication from Meticulous Research ® , the automotive lighting market is
projected to reach $31.45 billion by 2030, at a CAGR of 5.1% from 2023 to 2030. Some of the major
factors driving the growth of this market are the increasing adoption of advanced lighting in vehicles,
stringent government regulations on lighting for better visibility and safety and increasing automobile
production in emerging economies.
The automotive lighting market is segmented by vehicle type, application, lighting technology, and
sales channel. The study also evaluates industry competitors and analyses the regional and countrylevel
markets.
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Scope of the report:
Automotive Lighting Market, by Vehicle Type
• 2-Wheelers
• Passenger Vehicles
• Commercial Vehicles
o
o
o
o
o
o
Trucks
Vans
Buses
• Semi Trucks
• Box Trucks
• Pickup Trucks
• Cargo Vans
Speciality Vehicles
Heavy Equipment
• Passenger Vans
• Passenger Buses
• Motor Coaches and RVs
• Construction Equipment
• Mining Equipment
• Agriculture Equipment
Other Commercial Vehicles
Automotive lighting Market, by Application
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Automotive Lighting Market - 2030
• Interior Lighting
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o
o
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• Headlamps
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o
Ambient Lighting
Footwell Lights
Roof Lights
Other Interior Lightings
Exterior Lighting
Fog Lamps
Taillights
Daytime Running Lights (DRLs)
• Other Exterior Lightings
Automotive lighting Market, by Lighting Technology
• Halogen
• Xenon
• LED
• Other Lighting Technologies
Automotive lighting Market, by Sales Channel
• OEM
• Aftermarket
Automotive lighting Market, by Geography
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Denmark
o Netherlands
o Rest of Europe
• Asia-Pacific
o China
o India
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Automotive Lighting Market - 2030
o
o
o
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• Latin America
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Japan
South Korea
Singapore
Rest of Asia-Pacific
Brazil
Mexico
• Middle East & Africa
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o
o
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Rest of Latin America
Israel
UAE
Rest of Middle East & Africa
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Based on vehicle type, the automotive lighting market is segmented into 2-wheelers, passenger
vehicles, and commercial vehicles. In 2023, the passenger vehicles segment is expected to account for
the largest share of the global automotive lighting market. The increase in demand for passenger
vehicles due to the surge in the middle-income group population, growing adoption of advanced
lighting in passenger cars and rising production of passenger cars worldwide are major factors
attributed to the large market share of this segment.
According to Organisation Internationale des Constructeurs d'Automobiles (OICA), there were
57,054,295 passenger cars produced globally in 2021. In addition, growing consumer inclination
towards these vehicles due to the availability of economic options is expected to support the growth
of this segment as it is also projected to register the highest CAGR during the forecast period.
Based on application, the automotive lighting market is segmented into interior lighting and exterior
lighting. In 2023, the exterior lighting segment is expected to account for the largest share of the global
automotive lighting market. Automotive exterior lighting ensures safety in road traffic and helps the
driver illuminate the lane and recognize the road, obstacles and traffic signs. The headlights with the
high beam, low beam and fog light functions are primarily used for this purpose.
All exterior lighting of a vehicle is subject to country-specific legal regulations to ensure safe driving.
In addition to the legal regulations, branding and aesthetics also contribute significantly to this
segment's large market share. However, the interior lighting segment is projected to register the highest
CAGR during the forecast period.
Based on lighting technology, the automotive lighting market is segmented into halogen, xenon, LED,
and other lighting technologies. In 2023, the LED segment is expected to account for the largest share
of the global automotive lighting market. LEDs are increasingly being used in automotive applications
due to energy efficiency, weight reduction and space-saving qualities. Vehicle manufacturers are
showing great interest in integrating LED lights in vehicles, as these lights consume less power and
have a longer life when compared to halogen and HID lights.
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Automotive Lighting Market - 2030
In addition, several automotive lighting manufacturers are introducing advanced LED lighting for
various applications. For instance, in September 2021, HELLA GmbH & Co. KGaA (Germany)
launched its Modular Lightbar with advanced LED technology for municipal vehicles. This light helps
ensure optimum signaling effects as well as homogeneous illumination of the working area. This
segment is also projected to register the highest CAGR during the forecast period.
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Based on geography, the automotive lighting market is segmented into North America, Asia-Pacific,
Europe, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for
the largest share of the automotive lighting market. This segment is also projected to register the
highest CAGR during the forecast period. Factors such as a rise in the emphasis toward road safety,
an increase in the implementation of government regulations, and growing automobile production are
expected to drive the growth of the automotive lighting market in Asia-Pacific. In addition, the easy
availability of raw materials and enormous demand for cost-effective electrical and mechanical
components from nations such as Japan, China, and India are expected to support the market growth.
Key Players:
The key players operating in the automotive lighting market are KOITO MANUFACTURING CO.,
LTD (Japan), Stanley Co., Inc. (U.S.), Valeo (France), Marelli Holdings Co., Ltd. (Italy), HELLA
GmbH & Co. KGaA (Germany), Tungsram (Hungary), Lumax Industries (India), OSRAM GmbH
(Germany), Koninklijke Philips N.V. (Netherlands), ZIZALA Lichtsysteme GmbH (Austria), Robert
Bosch GmbH (Germany), ICHIKOH INDUSTRIES, LTD. (Japan), Continental AG (Germany),
Hyundai Mobis (South Korea), Varroc Group (India).
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Key questions answered in the report-
• Which are the high-growth market segments based on vehicle type, application, lighting
technology and sales channel?
• What was the historical market for automotive lighting?
• What are the market forecasts and estimates for the period 2023–2030?
• What are the major drivers, restraints, and opportunities in the automotive lighting market?
• Who are the major players, and what shares do they hold in the automotive lighting market?
• How is the competitive landscape in the automotive lighting market?
• What are the recent developments in the automotive lighting market?
• What are the different strategies adopted by the major players in the automotive lighting
market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global automotive lighting market, and how do they
compete with the other players?
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Automotive Lighting Market - 2030
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