By 2027, the automotive lighting market will exceed 31.46 billion U.S. dollars

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The value of the automotive lighting market is US$19.15 billion and is expected to exceed US$31.46 billion by 2027, with a compound annual growth rate of 6.4% from 2020 to 2027.

May 10, 2021, Ottawa (GLOBE NEWSWIRE)-Precedence Research, recently released the “Automotive lighting market (Classification by technology: xenon/HID, halogen and LED; sales by product: after-sales products and original equipment manufacturers (OEM); by vehicle type: ICE and electric vehicles, BEV and PHEV); by application: taillight, front/front Lamps, side and interior lighting)-global market size, trend analysis, segment forecast, 2020 regional outlook-2027″.

Lighting is a key element used to provide the driver with lighting in a car. In addition, the lighting also helps pedestrians and other drivers on the road to detect the position of the vehicle and the magnitude and direction of the movement. It provides a beautiful appearance for the exterior and interior of the vehicle, while enhancing visibility. Automotive lighting includes signal and lighting equipment. They are installed in different parts and positions of the vehicle, such as the top, rear, front and interior. Conventionally, due to the easy availability and low cost of halogen technology, halogen technology has been widely used in automotive lighting. However, xenon and LED are the most outstanding lighting technologies used in the automotive sector.

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Growth factor

Increasing attention to road safety and strict government regulations on vehicle lighting are some of the most prominent factors driving market growth. The growing demand for adaptive and efficient lighting systems to provide the best road lighting has greatly triggered the advancement of lighting technology. The correct vehicle lighting system can also prevent road traffic accidents due to visibility errors in harsh environments. According to the World Health Organization (WHO) report, an average of 1.25 million people die in road traffic accidents each year. In addition, lack of visibility is the main reason for the increase in the number of road traffic accidents worldwide. Following this, governments in various regions have formulated effective regulations related to the application of automotive lighting systems. For example, due to unfavorable weather conditions, the European Union (EU) requires the implementation of daytime running lights (DRL) in the region. However, the high installation cost of LED lights is expected to limit market growth.

Highlights of the report

  • The Asia-Pacific region dominated the global automotive lighting market in 2019 and is expected to show the highest growth rate during the analysis period. This is mainly due to the high sales of passenger cars in the region. In addition, the increase in road traffic accidents in the region is likely to promote the aftermarket sales of automotive lighting in the region.
  • Europe is expected to maintain steady growth in the next few years due to the increasing adoption rate of indoor lighting, reversing, braking and signal indicators. In addition, environmental regulations in the region require the deployment of LEDs for various applications.
  • The front/headlight application field is expected to achieve significant growth during the forecast period. This is mainly due to the combination of the advancement of headlamps and the LED technology used in the field of front lighting.
  • Depending on the type of vehicle, electric vehicles are expected to grow at a significant rate during the analysis period. Governments in various regions have taken major initiatives to adopt electric vehicles to reduce carbon footprint and improve air quality, which are the main factors driving the growth of this sector.

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Regional snapshot

The Asia-Pacific region is the most attractive region in the global automotive lighting market, accounting for about 40% of the largest revenue share in 2019, and it has also shown rapid growth during the analysis period. The significant growth in the region is mainly due to the increased demand for passenger cars in the region. Higher disposable income and significant growth in the gross domestic product (GDP) of various Asian countries provide considerable growth prospects for passenger vehicles in the Asia-Pacific region, thereby driving the growth of automotive lights in the region. China, India, Taiwan and Japan are the major manufacturing centers of the automotive industry, thus driving the growth of automotive lamp production in the region.

Key players and strategies

The global automotive lighting market is highly integrated and highly competitive. The main market share is occupied by major market players, including Hella, Stanley Electric, Hyundai Mobis, Valeo, ZizalaLichtsysteme, Philips and General Electric. These industry players are very confident in joint ventures, product launches and regional expansion. For example, Koito Manufacturing Co., Ltd. launched its new car lamp manufacturing plant in China, namely Hubei Koito Car Lamp Co., Ltd. In addition, they have also invested heavily in research and development of advanced and effective lighting solutions. In addition, the market trend of inventing cost-effective LED solutions and many other related solutions has influenced market participants to invest a lot of money in R&D activities.

The main players in the market include HellaKGaAHueck & Co., DENSO Corporation, Koito Manufacturing Co. Ltd. , Hyundai Mobis, Valeo, OsramLicht AG, Koninklijke Philips NV, Stanley Electric Co., Ltd., ROBERT BOSCH GmbH and ZizalaLichtsysteme GmbH.

Market segmentation

By technology

Sales by product

  • After-sales products
  • Original Equipment Manufacturer (OEM)

By vehicle type

  • ice
    • Commercial vehicle
    • Passenger car
  • Electric car
    • Hybrid Electric Vehicle (HEV)
    • Electric Vehicle (BEV)
    • Plug-in hybrid electric vehicle (PHEV)

By application

  • Headlight
  • side
  • taillight
  • Indoor lighting

Outlook by region

  • North America
  • Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the world

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