Automotive Lighting Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends|HELLA GmbH & Co. KGaA, Koito Manufacturing Co. Ltd., Osram Licht AG, Koninklijke Philips N.V., Magnetti Marelli

The automotive lighting market size is expected to see strong growth in the next few years. It will grow to <b>$36.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. </b> The growth in the forecast period can be attributed to led technology advancements, autonomous vehicles, electric vehicles (evs), environmental concerns, connectivity and smart lighting. Major trends in the forecast period include adaptive lighting, matrix led headlights, dynamic turn signals, light signature design, oled lighting.

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Segmentation & Regional Insights
The automotive lighting market covered in this report is segmented –

1) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
2) By Technology: Halogen, Xenon/HID (High-intensity Discharge Lamp), LED (Light Emitting Diode)
3) By Application: Front/Headlamps, Rear Lighting, Side, Interior Lighting

<b>Asia-Pacific</b> was the largest region in the automotive lighting market in 2023. <b>North America</b> was the second-largest region in the automotive lighting market. The regions covered in the automotive lighting 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
During the forecast period, a growing emphasis on road safety will contribute to the growth of the automotive lighting market. The demand for safety features along with the adaptive lighting system has increased due to an increase in the number of road accidents worldwide. For instance, in June 2022, according to The Institute for Health Metrics and Evaluation, a US-based foundation, improving measures for road safety could save half a million lives every year. Wearing helmets, following traffic rules such as speed limits, avoiding drunk-and driving could save 3.47k and 5.40k lives every year. These factors are leading to the growth in demand for adaptive and better lighting systems in vehicles and will thereby drive growth of the automotive lighting market.

Key Industry Players
Major companies operating in the automotive lighting market include <b>HELLA GmbH & Co. KGaA, Koito Manufacturing Co. Ltd., Osram Licht AG, Koninklijke Philips N.V., Magnetti Marelli, Grupo Antolin, Flex Automotive GmbH, Lumax Industries Limited, Valeo Lighting Systems, Bosch Lighting Technology, Seima, Visteon Coporation, ICHIKOH INDUSTRIES LTD., STANLEY ELECTRIC CO. LTD., Peterson Manufacturing Company, Hyundai Mobis, Varroc Group, Denso Corporation, ZKW Group, General Electric Co, Lumax Industries Ltd., Continental AG, Marelli Automotive Lighting, Varroc Lighting Systems, Flex-N-Gate Corporation, Magna International Inc, SL Corporation, TYC Brother Industrial Co. Ltd., Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Guangzhou Ledoauto Company Ltd, Phoenix Lamps Division of Suprajit Engineering Ltd, Automotive Lighting Reutlingen GmbH</b>

The automotive lighting market report table of contents includes:

1. Executive Summary
2. Automotive Light Emitting Diode (LED) Bulbs Market Characteristics
3. Automotive Light Emitting Diode (LED) Bulbs Market Trends And Strategies
4. Automotive Light Emitting Diode (LED) Bulbs Market – Macro Economic Scenario
5. Global Automotive Light Emitting Diode (LED) Bulbs Market Size and Growth

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32. Global Automotive Light Emitting Diode (LED) Bulbs Market Competitive Benchmarking
33. Global Automotive Light Emitting Diode (LED) Bulbs Market Competitive Dashboard
34. Key Mergers And Acquisitions In Automotive Light Emitting Diode (LED) Bulbs Market
35. Automotive Light Emitting Diode (LED) Bulbs Market Future Outlook and Potential Analysis
36. Appendix

 

Top Major Players :

• HELLA GmbH & Co. KGaA
• Koito Manufacturing Co. Ltd.
• Osram Licht AG
• Koninklijke Philips N.V.
• Magnetti Marelli

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