Automotive Lighting Market Growth Potential & Forecast, 2018 – 2024

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Automotive Lighting Market for Passenger cars
segment to grow at 6 CAGR to 2024
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Key Insights from Automotive Lighting Market

• Increased automotive production and a high demand
  for passenger vehicles create growth
  opportunities for the automotive lighting market.
  With the growing demand for automobiles across
  the globe, the utilization of automotive lighting
  products has increased rapidly. The global
  automotive industry identifies the need for
  intelligent green lighting solutions.
• The automotive lighting market is driven by the
  development of lighting solutions by various
  manufacturers such as adaptive front rear
  lighting and dynamic bend lighting systems.
  Increasing demand from OEMs for advanced LEDs and
  laser-based light modules to improve the vehicle
  safety parameters and providing aesthetic looks
  to the vehicles further contribute to the
  industry demand.
• The popularity of the intelligent lighting
  technologies in the commercial vehicles, such as
  situation based light control and driver
  assistance at night, creates several growth
  opportunities in the automotive lighting market.
  Factors such as rising purchasing power and
  improving consumer lifestyle across various
  regions are contributing to the increasing sales
  of luxury vehicles and passenger cars.

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Continued
LED lighting technologies are witnessing a high
popularity in the automotive industry due to the
rising implementation of vehicle lighting
systems. LEDs offer several benefits such as
performance energy efficiency, bright lights,
and low power consumption. In the automotive
lighting market, the passenger cars segment is
anticipated to grow at 6 CAGR from 2018 to 2024.
A high demand for passenger cars across the globe
is compelling the increasing consumption of
lighting products. An increased focus on
enhancing the vehicle aesthetics and looks by
automobile companies demands advanced and
high-quality lighting systems. The interior
automotive lighting market is expected to grow at
7 CAGR from 2018 to 2024. Modern passenger cars
and luxury vehicles deploy advanced LED halogen
lamp components in the interior systems. These
components lend enhanced ambiance and atmosphere
to the modern cars. The implementation of LEDs in
vehicle interiors supports the smart and
intelligent technologies such as automated light
switching, touch-free lighting, and color
consistency.
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China Automotive Lighting Market, By Technology,
2017 2024 (USD Million)

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Major Companies in Automotive Lighting Market

• Magneti Marelli S.p.A.
• Osram Group
• Valeo
• Hyundai MOBIS
• HELLA GmbH Co. KGaA
• General Electric
• Varroc
• Koninklijke Philips N.V.
• Samsung Electronics Co. Ltd.

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Industry Coverage

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Regional Insights in Automotive Lighting Market

• The European automotive lighting market was
  valued at over USD 8 billion in 2017 and is
  anticipated to grow further due to the presence
  of major automotive manufacturers in the region
  such as BMW, Audi, Mercedes-Benz, etc.
  Additionally, several manufacturing standards set
  by the European Commission to support sustainable
  development and energy-efficient products account
  for the industry growth. Lighting system
  manufacturing companies across the globe follow
  these standards for manufacturing the lighting
  components used in automobiles.

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