The Global Automotive Lighting Market is projected to grow at a CAGR 4.19% from 2021 to 2026. Increase in premium and SUV sales, and advancements in lighting technology. LED light technology is estimated to grow at the fastest CAGR. Premium vehicles are installed typically with LED lights due to their numerous benefits such as low power consumption, more adaptive features, and high aesthetic value and increasing in number of newly manufactured vehicles installed with LED lighting systems.
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Asia Pacific is anticipated to be the largest market in the global market due to rapid consumer adoption and high sales of automobiles. China and Japan garnered the largest shares within the market due to the high production & sales of vehicles. Additionally, manufacturers in these countries focus on technological advancements, including lighting, thus, driving the demand for automotive lighting.
Key Market Players includes are Hella (Germany), Marelli (Italy), Osram (Germany), Valeo (France), Continental (Germany), Philips (Netherlands), Bosch (Germany), Varroc (India), Hyundai Mobis (South Korea), Koito (Japan), Denso (Japan), North American Lighting (US), and Renesas (Japan).
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