The global automotive lighting market size is projected to grow from USD 27.0 billion in 2020 to USD 34.9 billion by 2025, at a CAGR of 5.3%

New York, Aug. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Lighting Market for ICE & EV by Technology, Position & Application, Adaptive Lighting and Region - Global Forecast to 2025" - https://www.reportlinker.com/p04968736/?utm_source=GNW
0 billion in 2020 to USD 34.9 billion by 2025, at a CAGR of 5.3% during the forecast period. The trend of improving illumination in premium vehicles & SUVs is driving the growth of the market. The increasing sales of these cars are expected to propel the growth of the market further. Moreover, consumers are paying more attention to aesthetically appealing lights in a car, which ultimately drives the demand for automotive lighting. Furthermore, the rising sales of electrified, semi-autonomous, and autonomous vehicles are expected to open new opportunities for the growth of the market over the next few years.

The COVID-19 pandemic has brought the production and trade of automotive components to a standstill.Challenges on the demand & supply sides, and also around the availability of finance & investments, are expected to hamper global vehicle production.

Moreover, unemployment is rising due to COVID-19-induced recession, which is likely to result in a decline in the demand for passenger cars, mainly impacting the automotive lighting market.However, despite suspended operations, OEMs are continuing to build partnerships with suppliers and vendors to ensure the availability of parts & components for effective operations once the lockdowns end.

Thus, the partial opening of production facilities and gradual stability in supply chains in the coming months is expected to give the automotive lighting market modest growth opportunities.

LED technology lighting expected to be the fastest-growing segment.

The LED technology is expected to be the fastest-growing market as it provides aesthetically appealing looks to the vehicle. Moreover, this lighting technology offers better visibility to both the driver and the oncoming car in comparison to other technologies like halogen and xenon.

The passenger vehicle segment is expected to be the largest market during the forecast period
Automotive lightings are used mostly used in passenger vehicles where the customer is aware of the benefits of adaptive headlights and is ready to invest. Moreover, advancing technology catering to this vehicle segment coupled with quick consumer adaptability for these modules is expected to drive the growth of the market during the forecast period.

Asia Pacific is the largest market for the automotive lighting market
Asia Pacific has been witnessing significant growth in the new car sales volume over the past few years, especially in emerging economies such as China and India.High disposable income of consumers and quick adoption of advancing technology, especially in vehicles, is expected to drive the demand for automotive lighting.

For instance, the production of the SUV segment in India grew from 0.65 million units in 2016 to 0.97 million units in 2018, and the growth is expected to continue in the near future. Production of the luxury segment (D and E) in China grew from 2.5 million in 2016 to 3.4 million units in 2018. Moreover, the production of the luxury SUV segment (SUV C and SUV D) increased from 2.31 million units in 2016 to 2.81 million units in 2018.

Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier I - 50%, Tier II - 20%, OEMs – 20%, Others – 10%
• By Designation: C level - 20%, Director Level– 50%, Others– 30%
• By Region: Asia Pacific - 30%, Europe - 50%, North America - 20%

Note: Others include Design Engineer, Exterior Lighting Designer, etc.
The key players in the automotive lighting market are Hella (Germany), Osram (Germany), Valeo (France), Continental (Germany), Philips (Netherlands), Bosch (Germany).

Research Coverage
The automotive lighting market has been segmented by technology (halogen, LED, and xenon), by application (Headlight, Fog light, Day Time Running Light (DRL), Taillight, Sidelight, Dashboard Light, Glove Box, Reading Light, Center High-Mount Stop Light (CHMSL), Dome Light), by vehicle type (passenger car, light commercial vehicle, bus and truck), by adaptive lighting (Front adaptive lighting (Auto on/off, bending/curve/cornering, high beam assist, headlight leveling), rear adaptive lighting, ambient lighting), by region - Asia Pacific (China, India, Japan, South Korea, and Rest of Asia Pacific), Europe (France, Germany, Italy, Spain, the UK, and Rest of Europe), North America (Canada, Mexico, and the US), and RoW (Brazil, Iran and Rest of RoW)

Key Benefits of Buying the Report:

This report provides insights with reference to the following points:
• Market Size, by product type technology: The report offers in-depth market sizing and forecast up to 2025, in terms of value, by headlight technology (halogen, LED, and xenon).
• Market Size, by application: The report offers in-depth market sizing and forecast up to 2025 in terms of value, by application of automotive lighting market (Headlight, Fog light, Day Time Running Light (DRL), Taillight, Sidelight, Dashboard Light, Glove Box, Reading Light, Center High-Mount Stop Light (CHMSL), Dome Light).
• Market Size, by adaptive lighting: The report offers in-depth market sizing and forecast up to 2025 in terms of value, by adaptive lighting (Front adaptive lighting (Auto on/off, bending/curve/cornering, high beam assist, headlight leveling), rear adaptive lighting, ambient lighting)
• The report provides “competitive leadership mapping” that profiles key players as visionary leaders, innovators, dynamic differentiators, and emerging companies.
• The report also provides the “Revenue Impact” section that helps the Automotive Lighting manufacturers to understand the key impacting factors for the Automotive Lighting market.
• Market Development: The report provides comprehensive information about lucrative emerging markets for the Automotive Lighting market across regions.
• Product Development/Innovation: The report gives detailed insights into R&D activities, upcoming technologies, and new product launches in the Automotive Lighting market
Read the full report: https://www.reportlinker.com/p04968736/?utm_source=GNW

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