Automotive Lighting Market for ICE & EVs Global Market Report 2022: Partnerships Between Automotive OEMs and Lighting System Manufacturers Present Opportunities

DUBLIN, Nov. 30, 2022 /PRNewswire/ -- The "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, 2W and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The automotive lighting market is projected to grow from USD 21.9 billion in 2022 to USD 28.5 billion by 2027, at a CAGR of 5.3% during the forecast period. Consumers' demand for aesthetically appealing lights in a car is ultimately driving the demand for automotive lighting. Implementation of stringent safety standards is also driving the adoption of advanced automotive lighting systems. Additionally, the growing sales of electric and autonomous vehicles are expected to create lucrative opportunities for automotive lighting manufacturers.

Headlight leveling features expected to be the fastest-growing segment.

Headlight leveling offers various benefits, such as better visibility and enhanced safety, adapting the driving conditions to avoid blinding cornering lights, etc. Due to their safety benefits, self-leveling headlights are mandatory in many countries, such as the US, Germany, and Japan. Lexus, Audi, and many high-end manufacturers offer headlight leveling features. Currently, the penetration of headlight leveling is majorly concentrated in Europe, followed by North America. In February 2022, the U.S. National Highway Traffic Safety Administration (NHTSA) legalized advanced headlights known as "adaptive driving beams." However, with growing advancements in adaptive lighting technology, countries like China and India are also expected to witness growth. Currently, passenger car holds the largest market share in headlight leveling and very low penetration in commercial vehicles.

Two-wheeler front lighting segment would be the fastest growing market during the forecast period.

Two-wheeler front lighting is the fastest growing in the automotive lighting market, while side lights have the largest market share. Currently, halogen headlights hold the largest market share. However, the growing popularity of LED headlights is expected to impact the halogen headlights market share in the coming years. LED offers various benefits, such as improved light quality, increased life span, and aesthetic appeal. There are different styles of LED headlights, the most popular in the market are Halo or angel eye headlights for motorcycles, multi-LED headlights, and fairing pattern LED headlights.

Although LED headlights are more expensive than halogen and xenon, the advantages offered by LED headlights will make them more cost-efficient in the long run. The Asia Pacific is expected to be the largest market due to increasing sales of two-wheelers in Indonesia, Thailand, and China. The growing popularity of mopeds/scooters in Asia, particularly Thailand and Indonesia, is expected to boost the two-wheeler front lighting market.

Market Dynamics

Drivers

• Increase in Demand for Premium Vehicles
• Lighting Regulations for Better Visibility and Safety
• High Demand for Adaptive Lighting Systems in Passenger and Entry-Level Suvs in Developing Economies

Restraints

• High Cost of Led Lights
• Low Penetration of Advanced Lighting in Hatchbacks, Compact Sedans, and Entry-Level SUVs
• Semiconductor Chip Shortages Affecting Automotive Lighting Supply Chains

Opportunities

• Partnerships Between Automotive OEMs and Lighting System Manufacturers
• Evolution of New Technologies

Challenges

• Volatility of Raw Material Prices
• Increase in Competition from Local Companies Offering Counterfeit/Retrofit Solutions
• Less Penetration of Advanced Lighting in Commercial Vehicles
• Development of Software Capabilities to Incorporate AI and Other Technologies in Adaptive Lighting Systems

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Automotive Lighting Market, by Technology

7 Automotive Lighting Market, by Application

8 Automotive Adaptive Lighting Market, by Type

9 Automotive Lighting Market, by Vehicle Type

10 Electric Vehicle Lighting Market, by Technology

11 Electric Vehicles Lighting Market, by Application

12 Electric Vehicle Automotive Lighting Market, by Vehicle Type

13 Two-Wheeler Lighting Market, by Position

14 Automotive Lighting Market, by Region

15 Competitive Landscape

16 Company Profiles

17 Analyst's Recommendations

18 Appendix

Companies Mentioned

• Continental Ag
• Denso Corporation
• Federal-Mogul Corporation
• Flex-N-Gate
• Gentex Corporation
• Grupo Antolin
• Hella KGaA Hueck & Co.
• Hyundai Mobis
• Ichikoh Industries, Ltd.
• Infineon Technologies
• Keboda
• Koito Manufacturing Co., Ltd.
• Koninklijke Philips N.V.
• Lumax Industries
• Marelli Automotive Lighting
• North American Lighting
• NXP Semiconductors
• Osram GmbH
• Renesas Electronics Corporation
• Robert Bosch GmbH
• Stanley Electric Co., Ltd.
• Valeo Sa
• Varroc
• Zizala Lichtsysteme GmbH

For more information about this report visit https://www.researchandmarkets.com/r/neda65

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SOURCE Research and Markets