Brooklyn, New York, Oct. 10, 2022 (GLOBE NEWSWIRE) -- Reports and Insights have published a new report titled, “Automotive Lighting Market: Opportunity Analysis and Future Assessment 2022-2030” analyzed By Light Type (Halogen, Xenon/HID, LED), By Adaptive Lighting (Front Adaptive lighting (On/Off Function, Bending/Cornering, High Beam Assist, Headlight Leveling), Rear Adaptive Lighting, Ambient Lighting), By Vehicle Type (Passenger Car (Compact Cars, Mid, Luxury, SUVs), Electric Vehicles (Battery Electric, Plug-in Hybrid Electric, Hybrid Electric), Light Commercial Vehicle (LCV), Bus, Truck), By Application (Exterior Lighting (Headlights, Fog Lights, Daytime Running Lights (DRL), Taillights, Sidelights, Center High-Mount Stop Light (CHMSL)), Interior Lighting (Dashboard, Glovebox, Reading Lights, Dome Lights)), By Sales Channel (OEM, Aftermarket) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
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Reports & Insights Overview
Since the innovation of the automobile, lighting has been one of the most significant sub-systems of all ground vehicles. Automotive lighting is crucial to passenger comfort, safety, and vehicle design and styling. One of the most vital components of automotive vehicles is lighting which primarily helps in illuminating the vehicle path, thereby enabling the driver to achieve a clear picture and view of the road.
Other than that, along with accomplishing the need for illuminating the vehicle’s path of the driver, the lighting system further assists pedestrians as well as other vehicle drivers on the road to identify the vehicle’s position, size, and direction of movement.
Moreover, the automotive lighting further adds aesthetic looks to both the interior and exterior sections of the vehicle and, all the same elevates the conspicuity of the vehicle. Basically, the lighting system consists of lighting and signaling devices. This lighting apparatus is located at various locations in the vehicle, for instance, front, top, rear, and interiors. Owing to all such factors, the technology employed in automotive lighting has swiftly augmented to make the lighting safer, value-added, as well as pleasing to customers. In order to support that, HELLA GmbH & Co., in 2018, innovated an integrated OLED technology for the rear combination lamps of the new Audi A8, which provides a homogenous appearance and individually controllable segments. Attributing to which, the global automotive lighting market is projected to witness significant growth over the coming years.
Other than that, factors such as surge in emphasis towards road safety, rise in implementation of government regulations, along with increasing automobile production all around the world is further expected to nurture the growth of the automotive lighting market in the following years. Having said that, the high cost of LEDs as well as volatile prices of raw materials are likely to hold back market growth in the near future.
The research report on the Automotive Lighting Market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impediments for the growth of the market. Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
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Automotive Lighting Market Segmentation
The global Automotive Lighting market is segmented on the basis of light type, adaptive lighting, application, vehicle type, sales channel, and region.
By Light Type
Halogen
Xenon/HID
LED
By Adaptive lighting
Front Adaptive lighting
On/Off Function
Bending/Cornering
High Beam Assist
Headlight Levelling
Rear Adaptive Lighting
Ambient Lighting
By Vehicle Type
Passenger Car
Compact Cars
Mid
Luxury
SUVs
Electric Vehicles
Battery Electric
Plug-in Hybrid Electric
Hybrid Electric
Light Commercial Vehicle (LCV)
Bus
Truck
By Application
Exterior Lighting
Headlights
Fog Lights
Day Time Running Lights (DRL)
Taillights
Sidelights
Centre High-Mount Stop Light (CHMSL)
Interior Lighting
Dashboard
Glovebox
Reading Lights
Dome Lights
By Sales Channel
OEM
Aftermarket
By Region
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
Automotive Lighting Market Key Players
Some of the key participating players in global Automotive Lighting market are:
DENSO Corporation
Hella KGaA Hueck & Co.
Hyundai Mobis
Koito Manufacturing Co., Ltd.
Koninklijke Philips N.V.
Osram Licht AG
ROBERT BOSCH GmbH
Stanley Electric Co., Ltd.
Valeo
ZKW
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About Reports and Insights:
Reports and Insights is one of the leading market research companies which offers syndicate and consulting research around the globe. At Reports and Insights, we adhere to the client's needs and regularly ponder to bring out more valuable and real outcomes for our customers. We are equipped with a strategically enhanced group of researchers and analysts that redefines and stabilizes the business polarity in different categorical dimensions of the market.
