Uploaded on Sep 15, 2020
Automotive Lighting Market for ICE & EV by Technology (Halogen, LED, Xenon/HID), Position & Application (Head, Side, Tail, Fog, DRL, CHMSL, Dashboard, Glovebox, Reading, Dome, Rear View Mirror), Adaptive Lighting and Region - Global Forecast to 2025
Automotive Lighting Market worth $34.9 billion in 2025
MarketsandMarkets
Presents
Automotive Lighting Market worth
$34.9 billion in 2025
https://www.marketsandmarkets.com/Market-Reports/automotive-lig
hting-market-1133.html
"Automotive Lighting Market for ICE & EV by Technology (Halogen,
LED, Xenon/HID), Position & Application (Head, Side, Tail, Fog, DRL,
CHMSL, Dashboard, Glovebox, Reading, Dome, Rear View Mirror),
Adaptive Lighting and Region - Global Forecast to 2025", size is
estimated to be USD 27.0 billion in 2020 to USD 34.9 billion in 2025, at a
CAGR of 5.3%.
Rising disposable income has resulted in an increase in consumer spending
capability to purchase premium vehicles, which, in turn, is expected to drive
the growth of the market. Government initiatives for implementing adaptive
lighting to increase the driver’s safety is another key factor anticipated to
fuel market growth.
Browse 393 market data Tables and 69 Figures spread through 302
Pages and in-depth TOC on "Automotive Lighting Market”
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Key Players: Hella (Germany), Marelli (Italy), Osram (Germany), Valeo
(France), Continental (Germany), Philips (Netherlands), Bosch (Germany),
Varroc (India), Hyundai Mobis (South Korea), Koito (Japan), Denso (Japan),
North American Lighting (US), Renesas (Japan), Lumax (India), Aptiv
(Netherlands), Grupo Antolin (Spain), Lear Corporation (US), Keboda (China),
NXP (Netherlands), Gentex (US), FlexNGate (US), and Federal-Mogul (US).
Passenger Car segment expected to be the largest segment for the
automotive lighting market
Passenger cars are expected to be the largest segment for the automotive
lighting market on account of the rapid adoption of advanced lighting
systems. Moreover, increasing sales of premium vehicles with pre-installed
adaptive headlights, adaptive taillights, and ambient lights are expected to
augment the growth of the segment further. Additionally, visual appeal is
considered as a premium feature, and lighting is one of the vital parameters
that add value to the visual appeal of the vehicle.
Historically, vehicle production declined from 2017 to 2019, which also
impacted the automotive lighting market. Due to the COVID-19 pandemic,
the production & sale of vehicles have witnessed a major decline and are
expected to see a 20% decline in 2020 (MarketsandMarkets analysis). Thus,
the automotive lighting market could register a further decline in 2020.
The LED technology is expected to be the fastest-growing segment
The LED technology is expected to grow at the fastest rate as this offers a
better package in terms of adaptive technology. Moreover, LED consumes
less power in comparison to other technologies such as halogen and xenon.
LED headlights also offer better visibility to the driver and reduce the
illumination effect on the eyes of the driver in the opposite direction.
Asia Pacific to continue being the largest consumer of the
automotive lighting market
China was the largest manufacturer and consumer of the automotive lighting
due to the presence of a robust automobile production base and huge
domestic sales of cars. Other Asian countries such as Japan, Korea, and India
showcased promising growth during 2017 and 2018, and this trend is likely to
continue till 2025. Asia Pacific is one of the main production bases for several
European and North American automotive lighting manufacturers. Thus, the
growing global sales of automobiles are expected to drive the growth of the
automotive lighting industry.
However, the Asia Pacific automotive industry has faced major challenges
due to the COVID-19 pandemic. For instance, the production activities of
major OEMs, like General Motors, Honda, Nissan, Peugeot, and Renault, have
been disrupted, thereby impacting the automotive lighting market as well.
For instance, two-thirds of automotive production has been directly affected
by China’s industrial lockdown, impacting the suppliers of lighting system
components as well. Additionally, the shortage of Chinese-made parts has
impacted global production.
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Recent Developments:
• In June 2019, Hella offered an integrated solution for complex lighting
systems. The company’s two business divisions, Lighting and Electronics,
have been working closely to combine their product technologies into a
flexible and modular product system. Headlight modules, electric control
units, and sensors can be assembled according to the modular principle.
• In April 2019, Hella signed a strategic cooperation agreement with Wuling
Automotive Industry, which belongs to the Chinese Guangxi Automobile
Group. Both partners intended to work together on automotive lighting
technologies for the Chinese market, with a focus on the development of
headlamps for the volume segment.
• In January 2019, Hella launched Shapeline lamps, work lights, auxiliary
lamps, warning lights, and accessories. The company equipped a show
truck with lighting solutions that were developed for trucks and trailers.
• In November 2018, Hella and Faurecia entered into a strategic
collaboration to partner on interior lighting solutions for the cockpit. Both
companies jointly developed lighting solutions in the domain of surface-
lighting and dynamic-lighting for a personalized cockpit environment.
Faurecia contributed its expertise as a complete system integrator for
vehicle interiors, while Hella supplied innovative products in the field of
interior lighting.
Don’t miss out on business opportunities in Automotive Lighting Mar
ket. Speak to our analyst and gain crucial industry insights that will
help your business grow.
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