New York, US, Aug. 15, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Automotive Interior Ambient Lighting Market Analysis by Product Type, By Technology, By Vehicle Type and By Region - Forecast To 2030” valuation is poised to reach USD 3800 million by 2030, registering an 10.60% CAGR throughout the forecast period (2022–2030).
Automotive Interior Ambient Lighting Market Overview
The automotive interior ambient lighting market is garnering substantial traction. Long-lasting and energy-efficient lighting systems have an enormous impact on the economy of the automotive industry. Over the last decade, automobile production and sales have spurted worldwide, substantiating the market demand. Government reforms & regulations and increasing demand for enhanced automobile safety boost the market size.
Automotive Interior Ambient Lighting Market Report Scope:
| Report Metric | Details |
| Market Size by 2030 | USD 3800 Million |
| CAGR | 10.60% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
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An efficient lighting system is a crucial aspect of automobiles; therefore, they are much in demand. Additionally, long-lasting and energy-efficient interior ambient lighting systems have an enormous impact on the automotive industry's economy. The rising demand for the highest quality and reliable lighting solutions influences the growth of the market. Also, changing consumer demands accelerate market shares.
Automotive Interior Ambient Lighting Market Segments
This market is segmented into product types, technologies, vehicle types, and regions. The product type segment comprises dashboard lights, ambient lighting, head-up displays, reading lights, and others. The technology segment comprises halogen, LED, and Xenon. Of these, LED technology accounts for the largest segment due to the increased energy efficiency it offers. The vehicle type segment comprises passenger and commercial vehicles. The region segment comprises the Americas, Asia-Pacific, Middle East & Africa, Europe, and the rest of the world.
Automotive Interior Ambient Lighting Market Regional Analysis
North America dominates the global automotive interior ambient lighting market. The emergence of high-quality lighting systems that can improve automotive safety increases the region's market size. Besides, the presence of leading automakers and increasing demand for luxury cars across the region drive the market growth.
The advantages of interior ambient lighting, such as energy efficiency and reduced greenhouse gas emissions, boost the regional market growth. The North American automotive interior ambient lighting market is projected to retain its dominance throughout the estimated period.
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Europe stands second in the global automotive interior ambient lighting market. The presence of well-established market players and the automotive industry witnessing high growth in vehicle production & sales influences the market value. Moreover, the rising adoption of energy-efficient lighting sources such as LED lights in the region boosts market revenues of the automotive lighting industry.
Stringent government regulations to curtail CO2 emissions from the vehicle foster the region's interior ambient lighting market. With the presence of leading automakers and smart technologies, Germany accounts for a significant share of the regional market, followed by the UK and France. The European automotive interior ambient lighting market is expected to witness significant growth during the assessment period.
The Asia Pacific region is a rapidly growing market for automotive interior ambient lighting systems. Factors such as the rising automotive industry and demand for luxury cars influence the growth of the regional market. South Korea, India, and China are the key automotive interior ambient lighting markets in the region. The APAC automotive interior ambient lighting market is anticipated to register a substantial CAGR during the coming years.
Industry Trends
The automotive industry is going through significant transformations. Automakers are increasingly focusing on ensuring minimal inconvenience to drivers by facilitating optimized operational techniques. Over the last decade, automotive production and sales have spurted, substantiating the market's demand. The increasing disposable income of middle-income groups escalates market sales, driving the automotive industry.
The growing urban population and expansion of global auto manufacturers into new emerging markets positively influence market revenues. Furthermore, rising R & D investments into developing efficient interior ambient lighting systems push the market value. The augmenting demand for quality and reliable lighting solutions influences the growth of the market.
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Automotive Interior Ambient Lighting Market Competitive Analysis
The automotive interior ambient lighting market appears to be highly competitive due to the presence of several small and large-scale players. These players incorporate strategic initiatives such as innovations in products and manufacturing techniques, mergers & acquisitions, and brand reinforcement to churn the market competition and maintain their market positions.
For instance, on Aug. 04, 2022, Ford revealed its 2023 Explorer model in China with overhauled exterior and interior. The new range comes with a comprehensive facelift of the sixth-gen Explorer, with a redesigned exterior and a new massive screen inside the cabin. The new SUV will likely make its official debut at the Chengdu Auto Show at the end of August 2022. Ford has designed the climate vents slimmer to bring the center console higher and created a more premium atmosphere with the ambient lighting & the leather upholstery.
In another instance, on Feb. 22, 2022, Motherson, a leading global interior, and exterior automotive components manufacturer, announced a partnership with Valeo Group to develop an automotive interior lighting system. The partnership would allow Motherson to integrate Valeo's innovative lighting systems with its new cabin interior modules and surfaces.
The MOU aims to create a futuristic automotive vehicle interior by integrating lighting systems with advanced surface finishes. Using these new technologies, instrument panels, door panels, center consoles, and other interior trims will be completely redesigned.
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Dominant Key Players on Automotive Interior Ambient Lighting Market Covered are:
- Koito Manufacturing Co. Ltd. (Japan)
- Hella KGaA Hueck & Co (Germany)
- Federal-Mogul Corporation (US)
- OSRAM Licht AG (Germany)
- GE Lighting (US)
- Magneti Marelli S.p.A (Italy)
- Valeo (France)
- Grupo Antolin (Spain)
- Zizala Lichtsysteme GmbH (Austria)
- Stanley Electric Co. Ltd. (Japan)
- Ichikoh Industries Ltd. (Japan)
- OSRAM Licht AG (Germany)
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