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Automotive Lighting Market Insights: Detailed Overview of Market Size, Share, Projected Growth

The global automotive lighting market size is estimated to reach USD 48.73 billion in 2030, growing at a CAGR of 5.95% from 2024 to 2030, according to a new report by Grand View Research, Inc. Strict government policies and rising safety concerns are likely to propel growth over the forecast period. In addition, growing consumer awareness concerning the significance of adaptive lighting including dynamic bend light and a glare-free high beam is also expected to have a positive impact on the exterior lighting market. 

Automotive Lighting Market Report Highlights

  • LED segment accounted for the largest market revenue share of 46.4% in 2023.
  • Front lighting/headlamps accounted for the largest market revenue share in 2023. The evolution of vehicle design and styling has elevated the importance of headlamp aesthetics.
  • Original Equipment Manufacturers (OEMs) accounted for the largest market revenue share in 2023. The increasing production and sales of vehicles globally directly contribute to OEMs' demand for automotive lighting systems.
  • The passenger vehicle segment accounted for the largest market revenue share in 2023. The increasing consumer preference for aesthetically appealing and technologically advanced vehicles is boosting the demand for innovative lighting solutions in passenger vehicles.
  • North America automotive lighting market dominated the market in 2023.

For More Details or Sample Copy please visit link @: Automotive Lighting Market Report

Increasing apprehensions about using energy-efficient methods coupled with rising consumer disposable income are expected to drive the industry. In addition, growing demand for vehicles and technological advancements in the automotive industry is expected to propel utilization. Attractive growth opportunities for new entrants are expected in the industry owing to the growing number of total vehicles purchased y-o-y across BRIC nations. However, there is a need for legislative authorities to collaborate with light sourcing technology suppliers to develop flexible design techniques. 

THE Automotive LED market is estimated to demonstrate considerable growth at a CAGR of over 12.0% from 2015 to 2022. Halogen lights contributed to over 66.0% of overall industry revenue in 2014, followed by LED and xenon. It has gained prominence on account of easy availability, low purchasing costs, and low replacement costs. However, rising fuel prices are expected to pose a threat to the industry. 

List of major companies in the Automotive Lighting Market

  • Sony Corporation
  • Samsung Electronics
  • Bosch Sensortec
  • Texas Instruments Incorporated.
  • STMicroelectronics
  • Omnivision Technologies
  • Analog Devices
  • Panasonic Corporation

For Customized reports or Special Pricing please visit @: Automotive Lighting Market Analysis Report

We have segmented the global automotive lighting market on the basis of application, technology, sales channel, vehicle and region.

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

Contact:

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll-Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

 

 

#AutoLighting #VehicleLights #AutomotiveInnovation #CarAccessories #Headlights #TailLights #LEDLighting #AutomotiveDesign #SafetyLights #LightingTechnology #AutomotiveIndustry #LightingSolutions #SmartLighting #VehicleSafety #AutoTech

 

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