Automotive Lighting Market Research Report: Information by Technology (Halogen, Xenon and LED), Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), Application (Front Lights, Rear Lights, Side Lights and Interior Lights), End Market (OEM and Aftermarket) - Forecast till 2027

Automotive Lighting Market Overview:

The global Automotive Lighting Market is projected to reach USD 51.4 billion by 2027 from an estimated USD 40.1 billion in 2019, at a CAGR of 7.1%.

The global automotive lighting market has been largely benefiting from the changing paradigms in government regulations and end user’s perspective towards enhanced safety in automobiles. In spite of a turbulence caused by the global economic slowdown of 2008, the automotive market has been able to gain back the pre-crisis annual growth rate by 2014. With several driving trends such as the growing demand for passenger vehicles, growing urban population, expansion of global auto-manufacturers into new emerging markets, and rising disposable income of the middle-class population.

The global automotive lighting market is expected to witness significant growth during the forecast period. In 2018, the global automotive lightings market was led by Asia-Pacific followed by Europe and North America. Asia-Pacific is a major revenue generator to the global automotive lighting market, where China, Japan, and India are considered as the prominent countries owing to the rising sales of passenger cars, increasing usage of lighting on vehicles, increasing popularity of LED lights, and technological advancements are giving a much-needed thrust to the automotive lighting market.

North America is the second leading market of the automotive lighting market and is estimated to grow at a significant rate during the forecast period. North America is one of the major producers of automotive lighting due to the presence of big giants in automotive lighting. Moreover, the rising demand for passenger cars has resulted in increasing demand for automotive lighting has augmented the North American market.

Key Competitors

The key players of the global automotive lighting market are Magneti Marelli (Italy), Philips Lighting NV (Netherlands), Ichikoh Industries Ltd (Japan), HELLA KGaA Hueck & Co (Germany), KOITO MANUFACTURING CO., LTD (Japan), ZKW Lichtsysteme GmbH (Austria), Peterson Manufacturing Company (US), OSRAM GmbH (Germany), Stanley Electric Co. Ltd (Japan) and General Electric (US).

Segmentation

The global automotive lighting market has been segmented based on technology, vehicle type, application, end market, and region.

The global automotive lighting market by technology has been segmented into halogen, xenon, and LED. Among these types, in 2018, the global market was led by halogen segment and is projected to lead throughout the forecast period. Halogen technology is considered as a traditional technology which has been using in the automotive industry since 1960 and is widely used in automobiles, which in turn drives the growth of the global automotive lighting market. Whereas the LED segment has registered as the fastest growing technology due to several manufacturers such as Toyota, Honda, Audi, BMW, and others have started installing LED light into their premium cars.

On the basis of vehicle type, the market is segmented into the passenger car, light commercial vehicle, and heavy commercial vehicle. Among these vehicle types, passenger car has accounted for the largest market share followed by light commercial vehicles and heavy commercial vehicles. The market for automotive lighting is primarily driven by the rising demand for passenger car among a large pool of population, increasing per capita income in emerging countries, and expansion of global auto-manufacturers into new emerging markets.

Segmentation based on application, the global automotive lighting market is divided into front lights, rear lights, side lights, and interior lights. In 2018, the front lights segment dominated the market and projected to be dominant throughout the forecast period. The major factor that has driven the front light application market are increasing demand for passenger vehicles, technological advancements in automotive industries.

Segmentation based on end market, the global automotive lighting market is segmented into OEMs and aftermarket. The OEM segment is projected to be dominant throughout the forecast period. Most of the automotive manufacturers purchase automotive lights directly from the OEMs, and after that, they assemble it into the automotive manufacturers. Hence, OEM has accounted for the largest market share during the forecast period.

Regional Analysis

On the basis of region, the global automotive lighting market is segmented into North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW).

Europe is expected to witness a significant growth in the global automotive lighting market, owing to the new emission standards regulated by the government. In Europe, Germany has accounted for the largest market followed by the UK and France. Germany is mainly known for its vehicle manufacturers. Presence of several giants has pushed the German market for automotive lighting, which in turn drives the growth of this market in Europe.

The rest of the world (RoW) consists of the Middle East & Africa and South America. The participation of automotive vehicle manufacturers in these regions and increase in the demand for luxury cars across the urban countries, further boost the growth of this market in the RoW region.

Synopsis

The global automotive lighting market has been segmented based on technology, vehicle type, application, end market, and region. On the basis of technology, segmented into halogen, xenon, and LED. Among these types, the halogen segment is projected to be dominant throughout the forecast period, whereas the LED segment has registered as the fastest growing technology. Segmentation based vehicle type, in 2018, the passenger car segment was dominated the global market followed by light and heavy commercial vehicles. Among the regions covered, Asia-Pacific has accounted for the largest market for automotive lighting market followed by North America and Europe.

Market Segmentation

• By Technology – Halogen, Xenon, and LED


• By Vehicle Type – Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle


• By Application – Front Lights, Rear Lights, Side Lights, and Interior Lights


• By End Market – OEM and Aftermarket

Key Questions Addressed by the Report

• What was the historic market size (2019)?


• Which segmentation (technology/vehicle type/application/end market) is driving market growth?


• What will be the growth rate by 2027?


• Who are the key players in this market?


• What are the strategies adopted by key players?