The automotive light emitting diode (led) bulbs market size is expected to see rapid growth in the next few years. It will grow to <b>$15.1 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. </b> The growth in the forecast period can be attributed to electric vehicle (ev) growth, autonomous vehicles, smart lighting and connectivity, sustainability and green practices, advanced driver assistance systems (adas). Major trends in the forecast period include matrix led headlights, animated lighting, miniaturization, customization and personalization, lidar integration.
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Segmentation & Regional Insights
The automotive light emitting diode (led) bulbs market covered in this report is segmented –
1) By Vehicle Type: Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle(HCV)
2) By Adaptive Lighting: Front Adaptive Lighting, Rear Adaptive Lighting, Ambient Adaptive Lighting
3) By Sales Channel: OEM, Aftermarket
<b>Asia-Pacific</b> was the largest region in the automotive light emitting diode bulbs market in 2023. <b>North America</b> was the second-largest region in the automotive light emitting diode (LED) bulbs market. The regions covered in the automotive light emitting diode (led) bulbs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Technological advancements in automotive light emitting diode (LED) technology are expected to drive automotive light emitting diode (LED) bulbs market growth. Some of the new technologies include µAFS LED headlights, bend lighting headlamps, and flexible OLED for vehicle lighting. For example, in January 2022, Magnachip Semiconductor Corporation, a Luxembourg-based designer and manufacturer of analog and mixed-signal semiconductor platform solutions, introduced its organic light-emitting diode display integrated circuit (OLED DDIC) to offer next generation OLED DDIC for automotive displays. The OLED DDIC is produced for automotive based on the 40 nm processs technology that are designed for center stack displays and instrument cluster displays to offer wide range of resolutions including FHD suited for both rigid and flexible OLED displays. Additioinally this next generation DDIC is made as an “all-in-one solution,” which means that source drivers, gate drivers and timing controllers are integrated on a single chip which reduces the production cost.Thus, increasing technology adoption is expected to drive the demand for advanced growth of the automotive light emitting diode (LED) bulbs market products going forward.
Key Industry Players
Major companies operating in the automotive light emitting diode (led) bulbs market include <b>SG Automotive, Hella, KOITO, Magneti Marelli, OSRAM, Valeo, Stanley Electric Co. Ltd., Varroc Lighting Systems, Koninklijke Philips N.V., Mercedes-Benz, Hyundai Group, Toyota Motor Corporations, Zizala Corporations, Automotive Lighting, Flextronics Automotive GmbH & Co. KG (formerly Sidler Automotive), Grupo Antolin, Irausa S.A., Ichikoh Industries Ltd., SL Corporation, NAOEVO, ZKW Group, Lumileds Holding B.V., General Electric, Cree Inc., Diode Dynamics, Morimoto, GTR Lighting, J.W. Speaker Corporation, Baja Designs, Vision X, Rigid Industries, KC HiLiTES, Anzo USA, Putco, Oracle Lighting, Auxbeam, Fahren, SEALIGHT, BEAMTECH, HIKARI, Lasfit</b>
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