Automotive Lighting Market Outlook, Trend, Growth and Share Estimation Analysis


The Automotive Lighting Market is projected to grow from an estimated USD 22.5 billion in 2023 to reach USD 30.4 billion by 2030 at a CAGR of 4.4% during the forecast period.
Automotive manufacturers are highly focused on developing new and innovative lighting to increase the driver's and other road users' aesthetic appeal and safety. Automotive lighting is an integral part of every vehicle and significantly ensures safety, aesthetic appeal, and visibility. OEMs in lighting innovation create a range of concepts for interior and exterior use of LED technology. Almost all OEMs have incorporated LED technology in today’s vehicles. LED daytime running and rear lights have been introduced on several vehicles, and the latest LED matrix headlights provide vastly superior characteristics for functionality and design. Recently, all the high-end four-wheelers have been typically equipped with LED lighting, which is also anticipated to fuel the overall market growth.
“Exterior Lighting will remain the dominant application during the forecast period.”
The exterior lighting application is projected to lead the automotive lighting market during the review period. The segment's growth is mainly attributed to the compulsory fitment of several lighting components such as headlights, tail lamps, indicators, Center High Mounted Stop Lamps (CHMSL), Brake/ reverse lights, and license plates in almost all categories of vehicles. Further, continuous advancements in front & rear lighting technologies and government mandates to install daytime running lights (DRL), and adaptive lighting will prompt the growth of this segment. The exterior adaptive lighting technologies are gaining traction during the forecast period. This lighting improves the visibility of vehicles at a dimly lit intersection with the help of sensors which help to detect the steering angle to swivel based on the travelling direction of the vehicle. For instance, the European Union mandated the installation of passenger and commercial vehicles. Additionally, passenger cars produced in Japan and Canada also need to be fitted with DRLs, and other countries such as the US, China, India, and South Korea have noticed a significant uptake of LED DRLs and fog lights starting from mid- to premium range cars. Hence, advanced technologies like automatic ON/OFF, high beam assist in front lighting, and rear light signaling functions help to communicate with the driver and surroundings while driving. Thus, such advancement in exterior lighting is transforming the overall automotive lighting market which will drive this market in upcoming years.
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“LED to be the fastest growing automotive lighting technology by 2030.”
The LED lighting market will become a prominent technology in the automotive industry by the end of 2030 as it is more efficient than other technologies and is useful for adaptive lighting features. Due to this, LED headlamps and taillights have experienced an upsurge in demand in the passenger vehicles segment. On the other hand, mid-priced cars are getting installed with hybrid lighting, which combines halogen and LED lighting. Moreover, certain government norms encourage the usage of LED lighting. For instance, in February 2022, the US Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) issued a final rule allowing automotive OEMs to install adaptive driving beam headlights on newly produced vehicles.
Further, advancements in LED technologies such as OLED and matrix LED are prominently available in high-end cars for headlight application; however, they are expected to see a noticeable adoption in mid-range cars, especially in developing countries. Other than exterior applications, the adoption of LEDs for dashboards, gloveboxes, and dome lamps is growing rapidly. Leading OEMs such as Hyundai, Toyota, Volkswagen, BMW, and Nissan among others have adopted LED technology in interior and exterior applications to improve the vehicle's appearance. Some major commercial vehicle manufacturers, such as Daimler, Volvo, Scania, and MAN Trucks among others, are offering LED headlamps in some of the heavy trucks segment. Thus, the extended lighting range of LED technology with design flexibility and shifting consumer inclination towards LED technology will propel the adoption of LED technology in the coming years.
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