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Automotive Lighting Market Size, Share & Industry Analysis, By Technology Type (LED, Halogen, Xenon), By Vehicle Type (Passenger Cars, Commercial Vehicles) By Application Type (Front Lighting, Rear Lighting, Side Lighting, Interior Lighting) and Regional Forecasts, 2019-2026

Region : Global | Format: PDF | Report ID: FBI101978

 

KEY MARKET INSIGHTS

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The global automotive lighting market size was valued at USD 53.8 billion in 2018 and is projected to reach USD 100.8 billion by 2026, exhibiting a CAGR of 8.3% during the forecast period.

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Automotive lighting plays a vital role in vehicles, as it provides better visibility at night and in extreme weather conditions. It helps the driver of the vehicle to locate any obstacles and also spot the rough road conditions. Automotive lights also help other vehicles and pedestrians to detect the vehicle’s movement and its position. A vehicle consists of various lighting and signaling components that help improve vehicle safety and visibility. These vital lightning components are equipped in the rear, side, and front of the vehicle, which also offers a stylish look to the vehicle. In past years halogen bulbs were majorly used in the lighting system of a vehicle owing to its low cost. The major drawback of halogen bulbs was its less range and visibility.


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As per the World Health Organisation, around 1.25 million people die, and approximately 20-50 million people get injured in road accidents caused by natural weather conditions such as snow, rain, dust, fog, and others. The increasing number of road accidents owing to low visibility had fuelled the demand for advanced lighting equipment which has high visibility in extreme weather conditions. Various governments in developing countries have imposed stringent safety regulations on manufacturers to produce superior light with environment-friendly components, less battery power consumption, and high illumination. The fluctuating raw material prices are the prime factor restraining the growth of automotive lighting over the forecast period.


MARKET DRIVERS


“Stringent Safety Norms Imposed By Government is Expected to Drive the Market Over the Forecast Period


During the night the majority of the drivers use a bright light or high beam for better visibility, this may cause a danger to the driver of the vehicle that is approaching from the opposite end as the person might experience a sudden glare for short period of time. Discomfort caused by high beam may lead to a severe road accident. To lower the number of road accidents, various governing body across the globe have imposed stringent norms on automotive lighting industry to produce more efficient lighting, which provides better visibility and do not cause discomfort to the other vehicle drivers.


“ Rising Demand for Advanced Automotive Lights is Expected to Propel the Growth of the Market During the Forecast Period.”


Rising demand for advanced automotive lights is anticipated to drive the market during the forecast period. Key manufacturers have heavily invested in R&D to develop advanced lighting for the vehicles to improve visibility and styling of the vehicle. In recent years, static halogen headlamps were used in vehicles which used to offer illumination only in tangent direction. Advanced automotive lighting consists of matrix beam, adaptive front lighting system, and pixel lighting. These lights provide comprehensive visibility to the vehicle while turning by changing their angle according to the steering wheel angle. Advanced lighting offers auto adjustment of illumination intensity and improves visibility in extreme weather conditions and while taking a turn. Growing inclination of consumers towards safe driving is also one of the reasons that is anticipated to fuel the demand for advanced automotive lighting.


SEGMENTATION


By Technology Type Analysis


“Automotive LED Lighting Type Segment is Expected to Hold the Largest Market Share During the Forecast ”


By technology type, automotive lighting market is segmented into LED, Halogen, and Xenon. The LED segment is anticipated to dominate the market over the forecast period. Low power consumption of LED compared to halogen bulbs is one of the prominent factor which is anticipated to dominate the technology type segment over the forecast period. Key manufacturers have heavily invested in R&D to develop advanced automotive LED lighting to replace conventional halogen bulbs, especially into the front end lighting of the vehicle. In past years LED bulbs were used in the rear end of the vehicle. Growing inclination of consumers towards power-efficient and advanced lighting, LED lights have successfully helped replace front end halogen bulbs. LED headlights and fog lights are anticipated to provide growth opportunities to the new players in the market. Halogen lights segment is expected to hold the second-largest position in the market. Less manufacturing cost and low maintenance are projected to hold the second-largest position in the market. Installation of halogen bulbs in the entry-level car segment is expected to maintain the second-largest position in the market.


By Application Type  Analysis


“Interior Lighting Segment is Expected to Dominate the Market Share During the Forecast”


By application type, the automotive lighting market is segmented into front lighting, rear lighting, side lighting and interior lighting. The interior lighting segment is expected to dominate the market over the forecast period. Rising installation of the enhanced lighting system in passenger and high-end cars which offer ambient lighting features is anticipated maintain the dominance over the forecast period. In past years ambient lighting features were equipped only in high-end vehicles.


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Low power consumption of LED lights and rising advancements have led to the installation of ambient lights in mid-level vehicle segments as well.  Growing installation of in advanced interior lighting in mid-level vehicle segment is also anticipated to offer growth opportunities to new players in the market. Front end lighting segment is expected to hold the second-largest position in the market owing to rising advancements lighting and signalling components in the vehicles. Installation of LED pixel lighting and adaptive headlights is anticipated to drive the front-end lighting over the forecast period.


By Vehicle Type Analysis


“Passenger Car Segment is Estimated to Display Good Growth Over The Forecast Timeframe.”


Based on vehicle type, further, the market has been segmented into a passenger vehicle and commercial vehicle. The passenger vehicle segment is projected to show dominance in the market over the forecast period owing to the increase in production and sales of the passenger vehicle.


 Commercial vehicle segment is also estimated to show significant growth over the forecast timeframe. Additionally, an increase in demand for high visibility lights in heavy commercial vehicles will help this segment to show growth in this market over the forecast period.


REGIONAL ANALYSIS


Europe is anticipated to dominate the lighting system market over the forecast period. The stringent emission safety imposed by governments in this region is expected to drive the growth of the lighting market. Early adoption of advanced technology in this region amid the presence of key players such as BMW, Audi, Mercedes Benz etc in this region is anticipated to maintain the dominance of Europe in this market. Government regulations and initiatives in Europe to curb the use of mercury is, in turn, creating the need for advanced automotive lighting solutions.


Asia Pacific Automotive Lighting Market Size, 2018

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Asia Pacific holds the second-largest position in the market and is anticipated to show good growth over the forecast period.  Growing demand for Asian made components in Europe and North America region is expected to further drive the market in the region. Rising sale and production of vehicles is expected to drive the automotive lighting industry in this region. Increasing disposable income and ease of availability of raw materials is also one of the reasons which is fueling the growth of the market in this region.


North America is also expected to show good growth in the lighting market. The U.S. is expected to show dominance in this region amid stringent safety regulations imposed by the government to curb the rising road accidents. For example, the US government has made it mandatory to use day time running lights (DRL) owing to changing weather conditions.


INDUSTRY KEY PLAYERS


“Key Market Players are Developing Advanced Adaptive Headlights Which Offers Better Visibility And Less Power Consumption”


Top automotive lighting companies in the world dominate the lighting market owing to their critical strategic decisions, robust product portfolio, and dominance of market share. These include a group of key companies with more extensive geographic presence and persistent R&D, resulting in secure regulatory approvals.


List Of Key Companies Covered:



  • Robert Bosch Gmbh

  • Hyundai Mobis

  • Koninklijke Philips N.V.

  • Varroc Group

  • Valeo

  • Continental AG

  • HELLA GmbH & Co. KGaA

  • Denso Corporation.

  • Lear Corporation

  • OSRAM GmbH.

  • Automotive lighting (Magneti Marelli)

  • North American Lighting, Inc.

  • Koito Manufacturing co., ltd

  • Lumax Industries.

  • Gentex corporation

  • Stanley electric co., ltd


REPORT COVERAGE


The stringent government regulations for efficient transportation are expected to increase the global lighting market’s growth. 


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Along with this, the report provides an elaborative analysis of the global market dynamics and competitive landscape. Various key insights presented in the report are recent industry developments such as mergers & acquisitions, the regulatory scenario in crucial countries, technological advancements in the lighting, key strategies adopted by market leaders, competitive landscape, and company profiles.


Report Scope & Segmentation












































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion)



 



By Technology Type



  • LED

  • Halogen

  • Xenon



Segmentation



By Vehicle Type 



  • Passenger Cars

  • Commercial Vehicles



By Application Type



  • Front Lighting

  • Rear Lighting

  • Side Lighting

  • Interior Lighting



By Region



  • North America (U.S., Canada, Mexico)

  • Europe (U.K., Germany, France, and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the world



INDUSTRY DEVELOPMENT:



  • September 2019:  Hella launched new lighting solutions called Solid State Lighting (SSLHD) that offer high performance and functionality. The SSLHD can be integrated into a much smaller space while maintaining the performance of the battery of the vehicle.

  • September 2019:  Osram launched the world’s first hybrid LED called as “Eviyos” which is specially designed for car headlights. Eviyos is capable of delivering HD projections on the road that will display warnings or symbols to other vehicles.

  • January 2018:  Magneti Marelli launched its latest innovation in autonomous lighting at North American Auto Show in Detroit. In this technology company has integrated LiDAR, camera and radar into advanced tail lamps and projector headlamps that produces fully functional smart corner while taking a turn.


Frequently Asked Questions

Fortune Business Insights says that the global automotive lighting market size was valued at USD 53.8 billion in 2018 and is projected to reach USD 100.8 billion by 2026.

In 2018, the automotive lighting market was at USD 53.8 billion.

Growing at a CAGR of 8.3%, the automotive lighting market will exhibit steady growth in the forecast period (2019-2026)

The Application Type segment is expected to be the leading segment in the global market during the forecast period.

The stringent safety regulations will be the key factors driving the growth of automotive lighting market.

HELLA GmbH & Co. KGaA, Magneti Marelli, and Osram lightings are the top players in the global lighting market.

Europe is expected to hold the highest market share in automotive lighting market.

Automotive Lighting Market Size, Share and Global Industry Trend Forecast till 2026
  • Feb, 2020
  • 2018
  • 2015-2017
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