Automotive Lighting Market to Garner $58.59 Billion, Globally, by 2030 at 6.3% CAGR: Allied Market Research

PORTLAND, Ore., Feb. 22, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Automotive Lighting Market by Light Type (Halogen, Xenon/HID, and LED), Vehicle Type (Passenger ICE Vehicle, Commercial ICE Vehicle, and Electric Vehicle), Position (Front Lighting, Rear Lighting, Side Lighting, and Interior Lighting), and Sales Channel (Original Equipment Manufacturers (OEMs), and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021–2030." As per the report, the global automotive lighting industry was accounted for $32.31 billion in 2020, and is expected to reach $58.59 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.

Major determinants of the market growth

Increase in the implementation of government regulations, rise in automobile production, and growing emphasis toward road safety have boosted the growth of the global automotive lighting market. On the contrary, fluctuating prices of raw materials and high cost of LED lights hinder the market growth. However, increased application in light commercial vehicles and rise in demand for advanced technology in vehicles are expected to open lucrative opportunities for the market players in the coming years.

Download Report (199 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/646

Covid-19 scenario-

• The outbreak of Covid-19 severely impacted the global automotive lighting industry, as several automotive industries have stopped their operations or delayed their projects to curb the spread of the virus.
• Due to the imposed lockdown across the globe, automobile & transportation activities came to halt, thus affecting the automotive industry across the globe.
• Due to the pandemic the global supply chain has disrupted and various manufacturing industries have halted their production activities, thus hampering the global automotive lighting market.

Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/646

The LED segment to dominate by 2030-

Based on light type, the LED segment contributed to nearly half of the global automotive lighting market share in 2020, and is anticipated to rule the roost by 2030, due to its longer life and better efficiency as compared to other lighting technologies to be used in vehicles. Moreover, this segment is expected to grow with the fastest CAGR of 7.4% throughout the forecast period.

The passenger vehicle segment to maintain the dominant share-

Based on vehicle type, the passenger vehicle segment accounted for more than half of the global automotive lighting market revenue in 2020, and is expected to lead the trail by 2030, owing to wider application of automotive lighting in passenger vehicles to provide a better view ofthe inner and outer environment. The electric vehicle segment, however, would register the fastest CAGR of 13.1% during the forecast period. This is due to the introduction of electric vehicle concept as a vehicle type to be used in the future.

Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/646

Asia-Pacific, followed by North America, garnered the major share in 2020-

Based on region, Asia-Pacific, followed by North America, garnered the major share in 2020, holding nearly half of the global automotive lighting market. This is attributed to the growing production and sales of vehicles across the region. However, the market across LAMEA would cite the fastest CAGR of 8.4% from 2021 to 2030. This is due to the increased demand for advanced vehicles with advanced safety features such as adaptive lighting to be present in vehicles running across the region.

Key players in the industry-

• Hyundai Mobis
• Koninklijke Philips N.V.
• ROBERT BOSCH GmbH
• Valeo
• ZKW
• Hella KGaA Hueck & Co.
• DENSO Corporation
• Osram Licht AG
• Koito Manufacturing Co. Ltd.
• Stanley Electric Co. Ltd.

Purchase This Full Research Report Now! https://www.alliedmarketresearch.com/checkout-final/e35a99c4215b749b8398c863ad904b3b

Similar Report We Have on Automotive Lighting Industry:

India Automotive Lighting Market by Technology (Halogen, Xenon, LED), Vehicle Type (Passenger Vehicles, Commercial Vehicles, Two-Wheelers, Three-Wheelers, Tractors), Sales Channel (OEM, Aftermarket Product) - Opportunity Analysis and Industry Forecast, 2014 – 2030.

Train Lighting Market by Light type (Fluorescent, Halogen, LED, and Xenon), Position (Interior and Exterior), Rolling Stock (Diesel, Electric, DMU, EMU, Metros, Light Rail, Passenger, and Freight Wagon): Global Opportunity Analysis and Industry Forecast, 2019–2030.

Aircraft Lighting Market by Interior Lights (Emergency Lights, Specialty Lights, Wash Lights, Reading Lights, and Lavatory Lights), Exterior Lights (Aircraft Visibility Lights, Pilot Lights, and Specific Purpose Lights), Aircraft Application (Commercial, Business Jets, Military, and Helicopters), and Light Type (LEDs and Fluorescent): Global Opportunity Analysis and Industry Forecast, 2020–2030.

Marine Lighting Market by Application (Floodlights, Searchlights, Berth Lights, Rope & Strip Lighting, Navigation Lights, Cockpit & Flood Lights, Utility & Engine Room Lights and Underwater LED Lights), Installation (Interior and Exterior), Technology (LED and Non-LED) and End-Use (Military and Commercial): Global Opportunity Analysis and Industry Forecast, 2021–2030.

Automotive LED Lighting Market by Technology (Halogen, LED, and Xenon), Application (Headlamp, DRL, Sidelights, Turning Lights, CHMSL, Tail Light, Brake Light, Interior Illumination Light, and Interior Indication Light), Sales (OEM and Aftermarket), and Vehicle (Passenger Car, Light Commercial Vehicle (LCV), Bus, and Truck): Global Opportunity Analysis and Industry Forecast, 2021–2030.

Automotive Intelligent Lighting System Market by Technology (Halogen, LED and Xenon), Vehicle Type (Passenger Vehicle and Commercial Vehicle), Product Type (Adaptive Headlight and Intelligent Ambient Lighting) and Sales Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021–2030.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: www.alliedmarketresearch.com 
Allied Market Research Blog: https://blog.alliedmarketresearch.com 
Follow Us on | Facebook | Twitter | LinkedIn |

SOURCE Allied Market Research

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED