Categories: Market Research

Automotive Auxiliary Lamps Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Automotive Auxiliary Lamps by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Automotive Auxiliary Lamps, The automotive auxiliary lamps market size has grown strongly in recent years. It will grow from $27.62 billion in 2023 to $29.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to off-road activities, automotive industry growth, consumer preferences, regulatory standards, supply chain dynamics.

The automotive auxiliary lamps market size is expected to see strong growth in the next few years. It will grow to $38.08 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to growing smart lighting, stringent environmental regulations, urbanization and infrastructure development, rise in adventure tourism, global economic outlook. Major trends in the forecast period include led technology dominance, customization and aesthetics, integration with vehicle electronics, smart connectivity, energy efficiency and sustainability, regulatory compliance.

The increasing vehicle manufacturing is driving the automotive auxiliary lamps market going forward. Vehicle manufacturing is increasing due to a growing demand for automobiles aided by growing population, rising income levels, increasing vehicle adoption and technological advancements. Automotive auxiliary lamps in automobiles are used to ensure road safety, and the use of vehicle lights assists the driver in illuminating the lane as well as recognizing the road, obstacles, and traffic signs. For instance, in April 2022, according to a report issued by the European Automobile Manufacturers Association, a Belgium-based lobbying and standards group of the automobile industry in the European Union, globally 79.1 million automobiles were produced in 2021, a 1.3% increase from 2020. Therefore, the increased vehicle manufacturing across the globe is driving the market for automotive auxiliary lamps.

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The automotive auxiliary lamps market covered in this report is segmented –

1) By Product Type: Light Emitting Diode Light (LED), Xenon, Halogen, Sealed Beam Conversion Lamp, Modular Lights

2) By Technology: Adaptive Lighting, Intelligent Lighting, Other Technology Types

3) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Off-Road Vehicle, Electric Vehicle

4) By Sales Channel: Original Equipment Manufacturer (OEMs), Aftermarket

Technological advancements are a key trend gaining popularity in the automotive auxiliary lamps market. Major companies operating in the automotive auxiliary lamps market are adopting new technologies to sustain their position in the market. For instance, Oracle Lighting, a US-based company involved in creating high-quality lighting products and innovative LED solutions for the automotive aftermarket launched a 7-inch Multifunction 60-Watt LED Spotlight for jeeps, trucks, and off-road vehicles (p/n 2915-023). The new auxiliary light is intended to provide improved illumination for any Jeep, truck, or off-road vehicle. This light projects up to 500M yards away and has an average 30-degree beam pattern due to the combination of two optic technologies. The integrated LED marker lights have both white and amber LEDs that can be utilized as turn signals, parking lights, or DRLs, continued Hartenstein. This versatile auto spotlight is the ideal remedy for illumination requirements. Its seven-inch spotlight is tough enough to survive through all of travels with an Ingress Protection Rating of IP68 and an incredibly long LED lifespan of 80,000+ hours.

The automotive auxiliary lamps market report table of contents includes: