Automotive Lighting Market to grow by 14.41 billion from 2022 to 2027, the market is fragmented due to the presence of prominent companies like Koninklijke Philips NV, Lumax Industries Ltd. and Marelli Holdings Co Ltd, and many more - Technavio

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

Company Offering:

• 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.
• For details on companies and their offerings – Buy the report!

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. 

Download a sample report to get more insights on the market share of various regions and the contribution of the segments.

• Impactful driver- Increasing demand for effective interior lighting
• Key Trend - Development of autonomous vehicles
• Major Challenges - Stringent regulations governing automotive lighting technologies 

 Market Segmentation

• 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. 

Technavio Research experts have provided more insights on the market share of segments - View Sample Report

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TOC:

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

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact US:

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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