Automotive Lighting Market Trends and Analysis by Technology, Companies and Forecast to 2028
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Automotive Lighting Market Report Overview
The automotive lighting market size was 174.4 million units in 2023. The market will grow at a CAGR of more than 2% during 2023-2028. Government agencies and business associations have established regulations and standards for automotive lighting systems. Lighting performance must meet the standards in terms of brightness, color, and beam patterns according to those laws. In 2023, Asia-Pacific accounted for a significant share of the market.
Automotive Lighting Market Outlook, 2023-2028 (Million Units)
Buy the Full Report for More Insights into the Automotive Lighting Market
The automotive lighting market research report provides a comprehensive overview of the automotive lighting market trends and drivers. The report also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers at a global and regional level. Furthermore, evaluate strategic initiatives taken by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings in the sector across regions, countries, and top applicants.
Market Size (2023) | 174.4 million units |
CAGR (2023-2028) | > 2% |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Key Regions | Asia-Pacific, Europe, North America, South America, and MEA |
Key Companies | Koito, Valeo, Automotive Lighting, Hella, and Stanley Electric |
Key Sectors | Lighting-Front LED, Lighting-Front Halogen, and Lighting-Front HID Xenon |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Automotive Lighting Market Trends
The key trends shaping the automotive lighting market are evolution of the lighting technology, human-centric lighting, and stringent safety regulations for lighting systems.
Human-centric lighting: The skill of producing lighting that resembles the natural daylight powering the human body and bodily functions is known as “human-centric lighting.” It enhances people’s comfort, performance, health, and overall well-being.
Buy the Full Report for More Trend Insights into the Automotive Lighting Market
Automotive Lighting Market Segmentation by Regions
In 2023, Asia-Pacific accounted for the highest share among all the regions
The key regions in the automotive lighting market are Asia-Pacific, Europe, North America, South America, and MEA. In APAC, Japan has been the fastest-changing market as well as the quickest to adopt new technologies with respect to the automotive lighting market. Meanwhile, India, China, and Russia still use basic halogen lighting for their vehicles.
Automotive Lighting Market Analysis by Regions, 2023 (%)
Buy the Full Report for More Regional Insights into the Automotive Lighting Market
Automotive Lighting Market - Competitive Landscape
Koito accounted for the highest market share in 2021
A few of the top companies operating in the market are:
- Koito
- Valeo
- Automotive Lighting
- Hella
- Stanley Electric
Koito introduced the unique single LED Bi-Function headlamp on the recent Toyota Prius. This headlamp utilizes less power, is tinier, and weighs less than the previous technology.
Koito is also taking strategic actions to aid the growth of the automotive lighting market. On October 28, 2023, the company declared that it is creating solid-state lighting, or SSL, for use in automobiles.
Automotive Lighting Market Analysis by Companies, 2021 (%)
Buy the Full Report to Know More about Major Developments and Strategic Actions of Automotive Lighting Market Companies
Automotive Lighting Market Segmentation by Sectors
The key sectors in the automotive lighting market are lighting-front LED, lighting-front halogen, and lighting-front HID xenon. In 2023, lighting-front LED was the dominant sector in the market. Asian countries are at the forefront of front LED adoption.
Automotive Lighting Market Analysis by Sectors, 2023 (%)
Buy the Full Report for More Sector Insights into the Automotive Lighting Market
Automotive Lighting Market - Latest Developments
A few of the latest developments in the automotive lighting market are as follows:
- 27th October 2023: Silicon Valley innovator and pioneer in high-performance lidar solutions Cepton signed an investment deal with Koito Manufacturing Co., Ltd. This investment will enable Cepton to scale its lidar solutions for widespread deployment and enter its next stage of growth.
- 26th October 2023: Valeo announced that new OLED headlights would be available on a few Audi vehicles. The headlights will have several benefits over conventional LED headlights, such as a quicker response time, less power usage, more accurate light distribution, and the capacity to design intricate light patterns.
Buy the Full Report to Know More about the Latest Developments in the Automotive Lighting Market
Segments Covered in the Report
Automotive Lighting Sector Outlook (Value, Million Units, 2018-2028)
- Lighting-Front LED
- Lighting-Front Halogen
- Lighting-Front HID Xenon
Automotive Lighting Regional Outlook (Value, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
Scope
- Trends & Drivers: Provides an overview of the current key trends and drivers that will influence the sector’s growth in the future.
- Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.
- PESTER Analysis: Provides a detailed understanding of political, economic, social, technological, environmental, and regulatory factors impacting the sector.
- Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2018-2028, and spot estimates for 2023 and 2028. The analysis also covers a regional overview across four regions highlighting sector size and growth drivers.
- Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.
- Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.
Reasons to Buy
- The report provides OEMs and component suppliers’ latest information on market evolution to help formulate sales and marketing strategies.
- The report provides authentic market data with a high level of detail to help gain a competitive edge in the market.
- The report provides its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector.
- The report analyzes regions and competitive landscape that can help companies gain insight into the region-specific nuances.
- The report assesses the key trends that drive customer choice and the future opportunities that can be explored in the region. Actionable insights on trends can help companies in revenue expansion.
- The report helps gain competitive intelligence about leading component suppliers in the region with information about their market share and growth rates.
Valeo
Automotive Lighting
Hella
Stanley Electric
Hyundai Mobis.
Table of Contents
Table
Figures
Frequently asked questions
-
What was the automotive lighting market size in 2023?
The automotive lighting market size was 174.4 million units in 2023.
-
What is the expected growth rate of the automotive lighting market for the forecast period?
The lighting market is expected to record a CAGR of more than 2% during 2023-2028.
-
Which was the leading sector in the automotive lighting market in 2023?
Lighting-front LED was the leading sector in the automotive lighting market in 2023.
-
Which was the leading region in the automotive lighting market in 2023?
Asia-Pacific was leading in the automotive lighting market in 2023.
-
Which are the key companies operating in the automotive lighting market?
The key companies operating in the automotive lighting market are Koito, Valeo, Automotive Lighting, Hella, and Stanley Electric, among others.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.