The automotive lighting market, valued at USD 22.47 billion in 2023, is projected to grow to USD 36.71 billion by 2033, reflecting a compound annual growth rate (CAGR) of 5.74% over the period. In 2017, the market had a revenue of USD 27.7 billion, driven primarily by exterior lighting, with headlamps contributing more than two-thirds of the total revenue. The sector is increasingly adopting LED technology, with the number of LEDs per vehicle expected to rise from €25 to €35 by 2023. Emerging µ-LED technology is anticipated to play a significant role in this segment. The market is dominated by major players such as Koito and Stanley from Japan, Magneti Marelli from Italy, Valeo from France, and Hella from Germany. Between 2016 and 2022, the market experienced a robust CAGR of 57%, reaching USD 35.9 billion by 2022. North America, Europe, and South Asia are the largest markets for automotive lighting, with growth driven by cities aiming to lower energy and labor costs.
The latest research report by Evolve Business Intelligence explores the various factors influencing the global market. It includes an analysis of the current market size, forecasts for key segments and regions, and the driving forces behind market growth. The report examines the potential impacts of key trends on business strategies and provides a SWOT analysis of critical sectors for each major competitor and customer group. This valuable data highlights the conglomerates likely to impact the industry, crucial for any company planning to invest strategically over the next five years. These insights complement our initial quantitative study, aiding in new investments and strategic planning to mitigate threats in existing sectors.
Segments covered
By Technology (Halogen, Xenon/HID, and LED)
By Application (Front Light, Rear Light, Side Light, and Interior Light)
By Sales Channel (Original Equipment Manufacturers (OEMs) and Aftermarket)
By Vehicle Type (Passenger Car and Commercial Vehicle)
Key players
Koninklijke Philips N.V.
Valeo S.A.
Osram GmbH
Hella KGaA Hueck & Co.
Magneti Marelli S.p.A
DENSO Corporation
Hyundai Mobis
Stanley Electric Co. Ltd.
Koito Manufacturing Co. Ltd.
ROBERT BOSCH GmbH
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