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Automotive Lighting System Market - Global Outlook and Forecast 2019-2024

SKU : ARZ181208
  • Published on : February 2019

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This market research report on the global automotive lighting market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product – exterior lighting (headlamps, rear lamps, fog lamps, and others), by product – interior lighting (roof console, reading lights, car body lighting, and ambient lighting), by vehicle (economy, mid-priced, and luxury), by installation (OEM and aftermarket), and by geography (APAC, Europe, North America, Latin America, and MEA).

Automotive Lighting Market - Overview

The increasing use of exterior and interior lighting systems that enhances the users driving experience and convenience is fueling the growth of the global automotive lighting market. The growing concerns for road safety and innovations in lighting systems  will create lucrative opportunities for leading vendors operating in the global market. The rapid adoption of ADAS technology  and development of futuristic automotive lighting technologies  such as laser headlamps  and OLED lights are driving innovation in the automotive industry. The introduction of LEDs and OLEDs are leading to the adoption of advanced lighting systems in the global market. The growing demand for additional systems such as navigation, entertainment, and ambient lighting will fuel the growth of the market. The presence of manufacturers such as KOITO MANUFACTURING, Valeo, Hella, and OSRAM will lead to the launch of new products in the global market. These systems are designed to remain active during driving and enable easy operation of interior controls and elevate the driver’s mood, alertness, and comfort in the market. The establishment of stringent safety and emission norms by different regulatory bodies is leading to major structural changes such as engine downsizing, electrification of automotive mechanisms, emission regulations, connectivity, and safety in the global market. The exponential growth of electric cars and the development of autonomous vehicle platforms is positively impacting the evolution of the market.  The declining prices of LED, advancements in the OLED lighting technologies, increasing demand for luxury vehicles, and promotion of sustainable and green technology are some of the major factors attributing to the growth of the global automotive lighting market.

The implementation of electronics such as collision avoidance systems, infotainment, connected systems, and drive-by-wire technologies will lead to the adoption of the automotive lighting products in the market. The introduction of anti-lock braking systems (ABS), engine control units (ECUs), electronic fuel injection systems, and automated locking systems will promote the development of safety electronics in the market. The global automotive lighting market is estimated to generate revenues of more than $54 billion by 2024, growing at a CAGR of over 6% during 2018-2024. The market research report also offers market share analysis by unit shipment volume during the forecast period.

Automotive Lighting System Market Overview and Forecast 2024

Automotive Lighting Market – Dynamics

The introduction of laser light technology is one of the major factors attributing to the growth of the global automotive lighting market. The use of laser light technology  will offer double the power without sacrificing the electrical efficiency and offers OEMs the flexibility to add additional technologies in the global market. Laser-poweredhead lights are more efficient than other lighting systems and are a perfect fit for electric vehicles and hybrid vehicles in the market. Laser lights have tight parallel beams that enhance the safety feature of these products in the global market. The OEMs are using lasers in headlights as it poses no risks to humans, animals, or wildlife because the light is not emitted directly onto the surface. Laser lights are becoming an extremely crucial component in the exterior lighting systems market. The various advantages of laser lighting technologies  will boost the adoption of these devices in the global automotive lighting market over the next few years.

Automotive Lighting Market – Segmentation

This market research report includes a detailed segmentation of the market by products – exterior lighting, products – interior lighting, vehicle, installation, and geography.

Automotive Lighitng Market Segments and Share

 

Automotive Lighting Market – By Product – Exterior Lighting

Introduction of LED and laser headlights to revolutionize the global automotive lighting market

The global automotive lighting market by exterior lighting is segmented into headlamps, rear lamps, fog lamps, and others. Headlamps dominated more than half of the total market share in 2018, growing at a CAGR of more than 6% during the forecast period. The introduction of LED and laser headlights is one of the primary factors attributing to the development of the exterior lighting segment in the global market. Technological advancements and increasing investments in the R&D of manufacturing new components will propel the demand for innovative devices in the global market. The government initiatives to promote safety regulations will impact the growth and development of the headlamps segment in the global market over the next few years. The implementation of the advanced front-lighting system (AFS), a technology that provides effective lighting depending on numerous factors such as steering angle, GPS, and road curves will boost profitability in the global automotive lighting market.

The manufacturers are designing rear lamps with OLED technology to ensure high performance and power efficiency in this segment in the global market. The implementation of stringent government regulations that mandate the usage and adoption of fog lights will revolutionize the global automotive lighting market.

Automotive Lighting Market – By Product – Interior Lighting

The popularity of autonomous vehicle platform is driving the demand for ambient lighting in the global automotive lighting market

The interior lighting segment in the global automotive lighting market is classified into roof console, reading lights, car body lighting, and ambient lighting. Ambient lighting systems are the fastest growing segment in the global market, at a CAGR of around 8% during the forecast period. The growing demand for systems that increase the safety by illuminating vehicle interiors without driver distractionis propelling the growth of this segment in the global market. The manufacturers are offering innovative lighting systems to gain a maximum number of consumers and gain a larger market share over the next few years. The ambient lighting systems help to make the vehicle more attractive and spacious simultaneously maintaining safety without distracting the driver in the market. The increasing adoption and popularity of electric vehicles and autonomous vehicle platform will fuel the development of this segment in the global automotive lighting market.

The use of functional interior lighting systems such as dome lights will fuel the demand for advanced roof console systems in the global market. The installation of reading lights enables passengers to view maps for navigation or read a book without distracting the driver in the market. Car body lighting provides both functional lighting and aesthetic appeal to primarily luxury cars in the global automotive lighting market.

Automotive Lighting Market – By Installation

Promotion of sustainable technologies will create lucrative investment opportunities for OEMs in the global automotive lighting market

The global automotive lighting market by the installation is divided into OEM and aftermarket. OEM segment occupied the majority of total market share in 2018, growing at a CAGR of more than 6% during the forecast period. The regional economic performance, automotive demand, and the adoption of stringent safety regulations are some of the key factors contributing to the growth of this segment in the global market. Supportive government policies will encourage the adoption of the latest automotive technologies in the market. The rapid electrification of engine components and the promotion of sustainable technologies will encourage development and investment in the OEM segment in the global market. The growing focus on reducing operational costs and rising demand for LED lighting systems will boost revenues in the global automotive lighting market.

The increasing growth than wear-and-tear and crash-relevant parts is driving the demand for aftermarket services in the market. The rapid technological advancements and consolidation among suppliers will contribute to the development of aftermarket services segment in the global automotive lighting market.

Automotive Lighting Market – By Vehicle

Rising demand for crossovers and compact SUVs to drive demand for mid-priced cars in the global automotive lighting market

The vehicle segment in the global automotive lightingmarket is categorized into the economy, mid-priced, and luxury. Mid-priced cars are the fastest growing segment in the global market, at a CAGR of over 9% during the forecast period. The increasing demand for crossovers and compact SUVs is majorly driving the growth of mid-priced cars in the global market. The rising focus on installing powertrain and chassis system, body electronics, safety and security system, telematics, and infotainment systems in mid-priced cars will transform the global market over the next few years. The emergence of connected and autonomous cars has increased the demand for LED interior lighting systems in the market. The vendors are developing cost-effective LED lighting systems for mass-market vehicles to gain a larger global automotive lighting market share.

Vendors are integrating power electronic devices that are used for various safety components such as airbag systems or ECS systems and tire pressure monitoring systems in economy cars to attract a new group of consumers. Leading OEMs such as Tesla, Chevrolet, BMW, and Volvo are developing electric vehicles in the global automotive lighting market.

Automotive Lighting Market – By Geography

OEMs setting up new manufacturing units will boost profits in the global automotive lighting market

The global automotive lighting market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. APAC dominated around half of the total market share in 2018, growing at a CAGR of approximately 7% during the forecast period. The growing demand for economy and luxury vehicles and leading OEMs setting up manufacturing units will contribute to the development of the APAC region in the global market. The growing demand for SUVs in countries such as China and Japan will drive the growth of the automotive industry in the APAC region. The automotive production industry is growing exponentially in the Indian region and is contributing to the rising revenues in the APAC market. The presence of Toyota, Honda, Suzuki, and Nissan will help develop the technological expertise in the APAC market. The growing demand for premium and luxury cars in the APAC region will attract new investments in the global automotive lighting market.

Germany, Spain, and the UK in Europe are contributing to the increased revenues in the global market. The growing popularity of electric, connected, and autonomous vehicles across North America will boost the demand for innovation in the market. The vendors expanding their business to the UAE, Iran, Saudi Arabia, and South Africa will fuel growth in the global automotive lighting market.

The key countries profiled in the report are:

  • China
  • India
  • Japan
  • Germany
  • Spain
  • UK
  • US
  • Mexico
  • Canada
  • Brazil
  • UAE
  • South Africa

Key Vendor Analysis

The global automotive lighting market is witnessing competitive pricing and the presence of several competitors. The increasing production and adoption of electric vehicles are enabling APAC to emerge as the world leader in the global market. The increase in export activities by global giants such as Toyota, Honda, and Suzuki will intensify the competition levels in the market. The top players are focusing on product differentiation to gain a larger global market share. The increasing investment in the innovation and business expansion will fuel the development of the global automotive lighting market.

The major vendors in the global market are:

  • Hella
  • Koito Manufacturing
  • Magneti Marelli
  • OSRAM
  • Bosch
  • Valeo

Other prominent vendors include 3M, APAGCoSyst, Changzhou Xingyu Automotive lighting, CML Innovative Technologies, DRÄXLMAIER, EFI LIGHTING, Faurecia, Federal-Mogul, Flex-N-Gate, Flextronics International, Gentex Corporation, Grupo Antolin, Infineon Technologies, Innotec, Johnson Electric Holdings, Koninklijke Philips, Magna International, MENTOR, Neolite ZKW, OSHINO LAMPS, Pacific Insight Electronics, Panasonic, Phoenix Lamps Division, SamvardhanaMotherson Group, SCHOTT, Shanghai Sunlight Enterprise, Sigma International, Stanley Electric, Texas Instruments, and Toyoda Gosei.

Key market insights include

  1. The analysis of global automotive lighting market provides market size andgrowth rate for the forecast period 2019-2024.
  2. It offers comprehensive insights on current industry trends, trend forecast, and growth drivers about the global automotive lighting market.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and the regional outlook of global automotive lighting market.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

 

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