Latest News- Automotive Lighting Market: Passenger cars is expected to lead the Vehicle Type segment during 2025-2029

The Automotive Lighting Market is being driven by Increasing demand for effective interior lighting

The Automotive Lighting Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 7239.9 million. Leading automotive companies, including Delphi, Continental, Bosch, Daimler, Scania, and Volvo, are making significant strides in the expansion of autonomous driving technology. Their marketing efforts and promotions have broadened market acceptance for semi-autonomous features in both passenger and commercial vehicles. By the end of the forecast period, self-driving cars may become a reality, and a substantial number of these vehicles are projected to be on the road within the next decade. These prominent automotive firms have advanced in their research and development of autonomous vehicles. Furthermore, the exploration and implementation of a comprehensive range of features in advanced driver-assistance systems (ADAS) and telematics/connected vehicle applications and services are anticipated to increase substantially. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Vehicle Type
  • Passenger cars
  • Commercial vehicles
• End-user
  • OEM
  • Aftermarket
• Technology
  • Halogen
  • LED
  • Xenon
• Application
  • Front
  • Rear
  • Side and interior
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for effective interior lighting
• Rise in penetration of LED lighting
• Stringent regulations on road safety

However, the market also witnesses some limitations, which are as follows:

• High cost of LED lamps
• Stringent regulations governing automotive lighting technologies
• Slowdown in automotive industry

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Market Scope in Automotive Lighting Market Research Report

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Research Analysis Overview

The Automotive Lighting Market caters to the demands of car users, particularly those in luxury vehicles, for advanced lighting solutions. Adaptive lighting technologies, such as LED lights and Xenon or HID headlights, enhance safety by illuminating road tracks, detecting vehicle movements, and warning of road hazards. Indium gallium nitride and other lighting technologies power Car lights, including daytime running lights and LED tail lights. Vehicle manufacturers integrate these advanced systems to prevent traffic collisions and improve motor vehicle safety. Halogen bulbs are being replaced by high-intensity discharge headlights and LED lamps, while laser lighting technology, such as laser headlights and smart lighting systems, offer further advancements. Cooling equipment ensures the longevity of these lighting systems.

Market Research Overview

The automotive parts and equipment market encompasses businesses producing components and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, market size is determined by the consolidated revenue generated by automotive components and equipment manufacturers. Key growth drivers in this sector include the surge in electronic components in automobiles, fueled by the increasing sales of ECUs and other electrical components in PCs, EVs, and motorcycles over the past decade. Additionally, the adoption of advanced lighting technologies, such as adaptive lighting using LED, Xenon or HID, indium gallium nitride, and aluminum gallium arsenide in projector headlights, is expected to boost market growth. Furthermore, the rising number of traffic accidents and fatal crashes worldwide underscores the need for enhanced vehicle safety features, driving demand for advanced automotive components and equipment.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/