Global Automotive Lighting Market Share Is Expected To Grow At A CAGR Of 4.9% By 2026

05-Feb-2020 | Facts and Factors

Facts and Factors have authored “Automotive Lighting Market By Application (Front Lighting, Side Lighting, Rear Lighting, & Interior Lighting), By Technology (LED, Halogen, & Xenon), By Vehicle Type (Passenger Cars & Commercial Vehicles), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. Based on our analysis, the global automotive lighting market was USD 26.7 Billion in 2020 and is anticipated to reach around USD 35.4 Billion by 2026. The anticipated CAGR for the global automotive lighting market is around 4.9% from 2021 to 2026.

Automotive Lighting Market Size

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Lighting plays an important role as part of vehicles and has a vital role in the safety of automobiles. The vehicles are manufactured with a variety of lights to give proper visibility particularly in bad weather conditions as well as in darkness. Lighting consisted of devices for signaling, which has fixed with a different location like the right side, left side, front, back, and interiors. Lighting provides sufficient brightness for clear visibility to the driver as well as other drivers who are running with vehicles on the road, and pedestrians to notice movement, direction, size, and position.

Browse the full “Automotive Lighting Market By Application (Front Lighting, Side Lighting, Rear Lighting, & Interior Lighting), By Technology (LED, Halogen, & Xenon), By Vehicle Type (Passenger Cars & Commercial Vehicles), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/automotive-lighting-market-by-type-halogen-xenon-led

The growth of the global automotive lighting market is mainly attributed to the increasing demand for lighting for better visibility and safety. Moreover, stringent government regulation, high demand for adaptive lighting, and rising production of new electric cars are amongst the major driving factors for the growth of the automotive lighting market in the near future.

Furthermore, rising disposal income paired with continuous new product launches by the market participants is predicted to flourish the growth of the automotive lighting market in the near future. However, the high cost of LED lights is predicted to have an adverse impact on the growth of the global automotive lighting market. Even so, advancement in technologies is estimated to offer new growth opportunities for market participants in the coming years.

Automotive Lighting Market

The global automotive lighting market is categorized on the basis of type and application segment. Halogen, Xenon, LED, and others are the type segment of the market. The halogen segment acquired the largest revenue share in the global automotive lighting market and accounted for over 36.92% in 2019. In addition, the report is bifurcated into the passenger vehicle and commercial vehicle application segments. The passenger vehicle segment held the largest revue share in 2019.

The report also provides you the regional analysis based on North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific emerged as a leading region in the global automotive lighting market and held over 40.61% of revenue share in 2019.

The growth of the Asia Pacific automotive lighting market is mainly driven by the rising production of the vehicle in China, Japan and India coupled with stringent rules and regulation by government. Europe is another lucrative market for the global automotive lighting market and is expected to contribute significantly in the coming years.

Report Scope

Report Attribute

Details

Market Size in 2020

USD 26.7 Billion

Projected Market Size in 2026

USD 35.4 Billion

CAGR Growth Rate

4.9% CAGR

Base Year

2019

Forecast Years

2020-2026

Key Market Players

Hella, Osram, Valoe, Continental, Philips, Bosch, Hyundai Mobis, Varroc Group, Hella, Denso, Lear Corporation, Magnetic Marelli, Stanley Electric Co. Ltd., Zizala Lichsysteme, and Samsung Electronics , and others.

Key Segment

By Application, Technology, Vehicle Type, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

Purchase Options

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Top Market Players

The key market participants for the automotive lighting market are Hella, Osram, Valoe, Continental, Philips, Bosch, Hyundai Mobis, Varroc Group, Hella, Denso, Lear Corporation, Magnetic Marelli, Stanley Electric Co. Ltd., Zizala Lichsysteme, and Samsung Electronics, among others.

This report segments the global automotive lighting market as follows:

Global Automotive Lighting Market: By Application Segment Analysis

  • Front Lighting
  • Side Lighting
  • Rear Lighting
  • Interior Lighting

Global Automotive Lighting Market: By Technology Segment Analysis

  • LED
  • Halogen
  • Xenon

Global Automotive Lighting Market: By Vehicle Type Segment Analysis

  • Passenger Cars
  • Commercial Vehicles

Global Automotive Lighting Market: Regional Segment Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-East Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • The Middle-East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle-East Africa

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

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