The market for automotive lighting is anticipated to be valued at US$ 36.8 billion in 2022 and to grow at a CAGR of 6.4% to US$ 68.2 billion by the end of 2032.
By the end of 2022, adoption of LED will likely hold at about 1/4th due to its strong CAGR of 7%.The development of novel lighting solutions has led to a number of changes in the automotive lighting business, most of which are connected. Automotive manufacturers are continually attempting to adapt to the newest trends and technical advancements taking place in the business, therefore automotive lighting solutions have developed in terms of design, size, and application in every vehicle.
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The readability score of the Automotive Lighting Market Demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.
The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers.
This Automotive Lighting market outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Automotive Lighting along with key stakeholders as well as emerging players associated with the manufacturing of product.
Competitive Landscape:
Automotive lighting manufacturers are Osram Licht AG, Hella KgaA Heuck Co. Ltd, Infineon Technologies AG, LG Electronics, Valeo SA, Marelli Magnetti, Hyundai Mobis, Varroc, Koito Manufacturing Co. Ltd, Robert Bosch GmbH,Andela Products, Inc.
With a sizable number of manufacturers functioning in the market, the automotive lighting market is moderately competitive. Some market participants are concentrating on securing the largest possible market share by introducing the most cutting-edge technology through research & development tactics.
Lighting manufacturers are also doing strategic collaborations with OEMs and maintaining long term relations with these OEMs for future business as well. Many big players are also using mergers & acquisitions as a key strategy for expanding their geographical presence and for more business in terms of revenue like Magnetti Marelli which operates under the name Marelli was acquired by Calsonic Kansei Corporation which is a leading automotive component supplier.
- In September 2021, HELLA KGaA introduced a new Modular Lightbar equipped with advanced LED technology for municipal vehicles. This light helps ensure optimum signalling effects as well as homogeneous illumination of the working area
- In December 2020, OSRAM Licht AG introduced the Ostune E1608 and E3030 automotive interior lighting, offering a wide color temperature range from 2700 to 6500 K, which are highly energy-efficient
Segmentation of Automotive Lighting Industry Research:
- By Application:
- Front Headlight
- Fog Light
- Rear Light
- Side Light
- Interior Light
- By Vehicle Type:
- Passenger Car
- Light Commercial Vehicle (LCVs)
- Heavy Commercial Vehicle (HCVs)
- Electric Vehicles
- Two Wheelers
- By Light Source:
- Halogen
- Xenon
- LED
- By Sales Channel:
- OEM
- Aftermarket
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Questionnaire answered in the Market outlook Report of Automotive Lighting include:
- What is the key strategy deployed by large players to maximize Automotive Lighting Market growth?
- What are the main challenges faced by players in the Automotive Lighting market Demand?
- With the advent of technological advancement, how will the Automotive Lighting market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Automotive Lighting market size?
How will be insights and market estimations provided in the Fact.MR report on the Demand of Automotive Lighting make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Automotive Lighting Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets