Automotive Lighting Market – Recent Developments, Segmentation & Major Key Players

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

Northbrook, IL 60062 — (SBWIRE) — 07/29/2022 — A significant increase in the demand for new car sales and a considerable amount of usage of advanced lighting are surging the demand for automotive lighting in the market. With a soaring per capita income with a high purchasing parity, consumers can invest in advanced lighting features like adaptive lighting, thus, driving the market growth in the upcoming years.

The Automotive Lighting Market size is estimated to be USD 27.0 billion in 2020 to USD 34.9 billion in 2025, at a CAGR of 5.3%.

Opportunity: Evolution of new technologies

Matrix LED, OLED, and laser lighting are some of the new and promising technologies for automotive lighting manufacturers. In matrix LED headlights, the high-beam unit is made up of 25 individual segments. The small LEDs work in conjunction with lenses, and reflectors connected in series are activated and deactivated or dimmed individually according to the situation. This enables the system to react precisely to other cars. It recognizes other cars using a camera and illuminates the road brightly. For instance, Audi’s Matrix LED headlights to get the information they need from a camera, the navigation system, and other sensors.

The key players automotive lighting market are 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), Federal-Mogul (US), Stanley Electric (Japan), Ichikoh (Japan), and Zizala (Austria).

LED lighting technology is expected to dominate the automotive lighting market globally during the forecast period 2020-2025.

The changing consumer preferences and the introduction of LEDs with adaptive features at competitive pricing are expected to drive the growth of this product category. Many leading manufacturers have already developed LED lights with adaptive features. The segment is driven mainly due to factors such as ease of use, the requirement of negligible initial setup, and lower power consumption by LED lights. Moreover, its use as a headlight with higher visibility also has a lesser impact on the eyes of the other drivers coming from the opposite direction.

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The Asia Pacific is likely to be the largest market during the forecast period

Asia Oceania witnessed a decline of -8% from 2017 to 2019 in passenger car production. However, the gradual opening of manufacturing facilities may help the market see modest growth by the end of the year. The introduction of products like interior cabin lights that contain sterilization features in vehicles may also encourage vehicle sales, further driving the automotive lighting market.

The Asia Pacific is anticipated to be the largest market in the global market due to rapid consumer adoption and high sales of automobiles. China and Japan garnered the largest shares within the market due to the high production & sales of vehicles domestically. Additionally, manufacturers in these countries focus on technological advancements, including lighting, thus, driving the demand for automotive lighting. The rise in consumer per capita income and high sales of SUVs in emerging economies such as India will drive the market further.

There has been a high demand for advanced lighting due to the increase in premium car sales. The increasing adoption of advanced lighting in lower and mid-segment cars is expected to open new opportunities for the growth of the automotive lighting market in this region during the forecast period.

Recent Developments:

1. In January 2022, HELLA launched the new Black Magic LED series on the European market. Its dustproof and waterproof housing and robust construction are specially designed for off-road applications. Depending on the variant they provide outstanding off-road illumination with up to 15,000 lumens. A specially developed reflector ensures a homogeneous illumination. In addition, the integrated, intelligent thermal management system ensures adaptation to the ambient temperature and thus always provides an optimal light output and a longer lifetime for the LEDs. The Black Magic LED series are available as floodlight or spotlight versions and can be mounted vertically or in a suspended manner or they can be integrated into the bodywork or bumper.

2. In December 2021, Bosch launched new 4W (four-wheeler) lighting bulbs the Gigalight 120, 150, the Sportec Bright 4000K and the LED Retrofit ideal for almost any vehicle. The Bosch Bulbs Gigalight 120, 150, the Sportec Bright 4000K and the LED Retrofit provide motorists with the luminosity they need to vividly see road signs or obstacles ahead, under any weather circumstances.

3. 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.

4. 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.

5. 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.

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For more information on this press release visit: http://www.sbwire.com/press-releases/automotive-lighting-market-recent-developments-segmentation-major-key-players-1361550.htm

Media Relations Contact

Mr. Ashish Mehra
Telephone: 1-888-600-6441
Email: Click to Email Mr. Ashish Mehra
Web: https://www.marketsandmarkets.com/Market-Reports/automotive-lighting-market-1133.html

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