Analysis of the LED Lighting Market in the Global Automotive Industry
The light-emitting diode (LED) lighting market in the global automotive industry is set to grow at a CAGR of % with high revenue contribution from Asia-Pacific (APAC).
LEDs are gaining increasing traction because of improved cost, design, and performance. LEDs have the potential to replace all other lighting sources and to reach market revenue of $ million in 2021.
Regulations against LED usage in North America (NA) continue to impede regional market potential.
Globally, mass market segments A&B and C are expected to provide the maximum revenue contribution by 2025.
Modularization of LED technology will reduce the cost of the this lighting solution ensuring an increased uptake of LEDs in the automotive industry.
Thermal management, which is one of the biggest challenges to strong penetration of LEDs, will be addressed in the next 3 years, further supporting LED efficiency.
Technological advancement in manufacturing LEDs is expected. Original equipment manufacturers (OEMs) expect the lighting suppliers to provide innovative LED solutions which can be used in advanced lighting technologies like adaptive lighting systems, light-sensing daylight running lights (DRL), and many more.
In the future, lighting solutions will be a combination of LED and laser as automakers in E and F segments will use these as differentiators.
OEMs will increasingly prefer lighting suppliers who are committed to identifying a cost-effective and high performance LED technology. In others words, suppliers should be greatly committed to research and development (R&D).
About this report
Globally, LEDs are gaining traction because of improved cost, design, and performance. The LED lighting market in the automotive industry is growing as LEDs are starting to be utilized in mass market vehicles and lighting suppliers look to provide innovative LED solutions to be used in advanced lighting technologies like adaptive lighting systems and light-sensing daylight running lights. This study provides a 360-degree view of the LED lighting market for the A&B, C, D, E&F, G, and SUV vehicle segments with an assessment of the current scenario and future market opportunities. A picture of the global hot spots is provided as well as a discussion of how certain Mega Trends will impact this market. The study period is 2013–2021.
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