NEW YORK, Nov. 28, 2023 /PRNewswire/ -- The automotive lighting market is estimated to grow by USD 14.41 billion from 2022 to 2027, growing at a CAGR of 9.79%. The automotive lighting market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer automotive lighting market are FLEX N GATE Corp, General Electric Co., Hyundai Motor Group, Koito Manufacturing Co. Ltd, Koninklijke Philips NV, Lumax Industries Ltd., Marelli Holdings Co Ltd, Namyung Lighting Co. Ltd, NXP Semiconductors NV, Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Stanley Electric Co. Ltd., Stellantis NV, Suprajit Engineering Ltd., Varroc Engineering Ltd, OSRAM GmbH, Robert Bosch GmbH, Valeo SA, Continental AG, and LG Corp.. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying
Koninklijke Philips NV - The company offers automotive lighting such as LED Headlamps, Discharge Headlamps, and Halogen Headlamps.
Lumax Industries Ltd. - The company offers automotive lighting such as DiamondVision, WhiteVision Ultra, and Ultinon Pro5000 LED.
Marelli Holdings Co Ltd - The company offers automotive lighting such as miniature lasers, micro-electrical mechanical systems, organic light diodes, and specialized LED.
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By Geography, the market is classified as APAC, Europe, North America, South America, and the Middle East and Africa.
APAC is estimated to contribute 58% to the growth of the global market during the forecast period. This growth is due to growing demand for LED lighting systems and increased automotive production in the region. Demand for SUVs is growing significantly in the APAC region. In addition, luxury car sales also skyrocketed in APAC countries. Additionally, the region is seeing growing demand for electric vehicles. Incentives offered by regulators and the establishment of charging infrastructure for electric vehicles are driving their demand in the region. Hence, these factors are expected to drive market growth in the region during the forecast period.
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Impactful driver- Increasing demand for effective interior lighting
Key Trend - Development of autonomous vehicles
Major Challenges - Stringent regulations governing automotive lighting technologies
By vehicle type, the market is classified into passenger cars and commercial vehicles. The market share growth by the passenger cars segment will be significant during the forecast period. Interior and external illumination is mainly applied to passenger cars. While growth in the lighting industry was driven primarily by outdoor lighting, buyers' increasing preference for interior lighting has given rise to high growth opportunities for suppliers in this category. In addition, given the increased vehicle use worldwide, passenger car manufacturers have been investing in advanced lighting systems with a view to improving comfort on board vehicles, which is also in great demand. Hence, these factors are expected to drive segment growth during the forecast period.
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Automotive Lighting Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 9.79%
YoY growth 2022-2023 (%)
APAC, Europe, North America, South America, and Middle East and Africa
US, China, Japan, India, and Germany
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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