Pune, India, Jan. 20, 2022 (GLOBE NEWSWIRE) — According to credible estimates, worldwide Automotive LED Lighting Market was worth USD 8090.1 million in 2020 and is expected to register a CAGR of 9.6% over the period 2021-2027 to reach a valuation of USD 15370 million by 2027.
Furthermore, the research literature outlines the key growth drivers along with the existing and upcoming challenges that will shape the dynamics of the industry. To explore and understand the major opportunities, the document contains an in-depth study on type, application, and geographical segmentation. Going deeper, it examines the competitive landscape of this vertical by profiling leading companies in terms of product portfolio, industry share, and financials. Various strategies such as strategic alliances and new product development are also considered to help stakeholders make informed decisions. Additionally, a top to bottom analysis of the industry supply chain is contained in the document.
The expansion of the industry is attributed to the increasing adoption of energy efficient lighting solutions, along with mandates to ensure road safety, and the widespread incorporation of LEDs in automobiles propel the growth of the industry.
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For the uninitiated, a light-emitting diode (LED) is a two-conductor semiconductor light source. When triggered, it is a pn junction diode that emits light. The electrons recombine with the electron holes inside the device when an appropriate voltage is given to the conductors, releasing energy in the form of photons.
LEDs are used as high mount brake lights and turn signals in vehicles due to their fast turn-on times, extended life, and daylight visibility due to high brightness and focus. But many vehicles are now using LEDs for their taillights.
Due to significantly reduced time to fully light up or faster rise time, compared to an incandescent bulb, the use of LED brake lights increases vehicle safety, providing drivers behind the wheel more time to react.
LEDs have stylistic advantages over incandescent lamps with parabolic reflectors because they can produce considerably finer lights. All these factors boost the adoption of the product, thus multiplying the industry share.
Impact of COVID-19:
In particular, the COVID-19 outbreak has severely affected the global Automotive LED Lighting industry trends due to insufficient supply of raw materials due to restricted movements during the lockdown.
Considering the regional landscape, Europe is the leading contributor with approximately 46% market share at present. While Japan held 19% of the industry’s share over the past year, experts cite.
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Global Automotive LED Lighting Market, Type Sub-Segments (Value, USD Million, 2016-2027)
- interior lighting
- Exterior lighting
Global Automotive LED Lighting Market, Application Sub-Segments (Value, USD Million, 2016-2027)
- commercial vehicle
- Passenger car
Global Automotive LED Lighting Market, Geographical Fragmentation (Value, USD Million, 2016-2027)
- Nordic countries
- The rest of Europe
- South Korea
- South East Asia
- Rest of Asia-Pacific
Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
Global Automotive LED Lighting Market, Company Profiles (Value, USD Million, 2016-2027)
- Yuyao HOJA Lighting Products Co.,Ltd
- FSL Autotech Co., ltd.
- Sammoon Lighting Co., Ltd.
- Xiamen Bymea lighting Co., Ltd.
- Zhejiang Dahao Automotive Co., Ltd.
- Foshan Tufa More Auto Lighting Co., Ltd.
- Easelook Lighting Technology Co., Ltd.
- Guangzhou Ledo Electronic Co., ltd
- Automotive Lighting District
- ZKW Group
- Osram Licht AG
- Stanley Electric Co., Ltd.
- Hella KGaA Hueck & Co.
- Valeo SA
- Magneti Marelli SpA
- Making koito Co., Ltd.
1 Coverage of the study
1.1 Automotive LED Lighting Product Introduction
1.2 Market by Type
1.2.1 Global Automotive LED Lighting Market Size Growth Rate by Type
1.2.2 Exterior lighting
1.2.3 Interior lighting
1.3 Market by Application
1.3.1 Global Automotive LED Lighting Market Size Growth Rate by Application
1.3.2 Passenger car
1.3.3 Commercial vehicle
1.4 Objectives of the study
1.5 years considered
2 Executive Summary
2.1 Global Automotive LED Lighting Market Size Estimates and Forecasts
2.2 Automotive LED Lighting Market Size by Region: 2021 Versus 2027
2.3 Automotive LED Lighting Sales by Region (2016-2027)
2.4 Automotive LED Lighting Market Estimates and Projections by Region (2022-2027)
3 Global Automotive LED Lighting by Manufacturers
3.1 Global Top Automotive LED Lighting Manufacturers by Sales
3.2 Global Top Automotive LED Lighting Manufacturers by Revenue
3.3 Global Automotive LED Lighting Price by Manufacturer (2016-2021)
3.4 Competitive Landscape
3.5 Global Automotive LED Lighting Manufacturing Base Distribution, Product Type
4 company profiles
5 Breakdown data by type
5.1 Global Automotive LED Lighting Sales by Type (2016-2027)
5.2 Global Automotive LED Lighting Revenue Forecast by Type (2016-2027)
5.3 Average Selling Price (ASP) of Automotive LED Lighting by Type (2016-2027)
6 Breakdown Data by Application
6.1 Global Automotive LED Lighting Sales by Application (2016-2027)
6.2 Global Automotive LED Lighting Revenue Forecast by Application (2016-2027)
6.3 Average Selling Price (ASP) of Automotive LED Lighting by Application (2016-2027)
7 North America
7.1 North America Automotive LED Lighting Market Size YoY Growth 2016-2027
7.2 North America Automotive LED Lighting Market Facts & Figures by Country
7.3 North America Automotive LED Lighting Sales by Type
7.4 North America Automotive LED Lighting Sales by Application
8.1 Asia-Pacific Automotive LED Lighting Market Size YoY Growth 2016-2027
8.2 Asia Pacific Automotive LED Lighting Market Facts & Figures by Region
8.3 Asia Pacific Automotive LED Lighting Sales by Type
8.4 Asia-Pacific Automotive LED Lighting Sales by Application
9.1 Europe Automotive LED Lighting Market Size YoY Growth 2016-2027
9.2 Europe Automotive LED Lighting Market Facts & Figures by Country
9.3 Europe Automotive LED Lighting Sales by Type
9.4 Europe Automotive LED Lighting Sales by Application
10 Latin America
10.1 Latin America Automotive LED Lighting Market Size YoY Growth 2016-2027
10.2 Latin America Automotive LED Lighting Market Facts & Figures by Country
10.3 Latin America Automotive LED Lighting Sales by Type
10.4 Latin America Automotive LED Lighting Sales by Application
11 Middle East and Africa
11.1 Middle East & Africa Automotive LED Lighting Market Size YoY Growth 2016-2027
11.2 Middle East & Africa LED Lighting Market Facts & Figures by Country
11.3 Middle East and Africa Automotive LED Lighting Sales by Type
11.4 Middle East and Africa Automotive LED Lighting Sales by Application
12 Supply Chain and Sales Channels Analysis
12.1 Supply Chain Analysis of Automotive LED Lighting
12.2 Automotive LED Lighting Key Raw Materials and Upstream Suppliers
12.3 Automotive LED Lighting Customer Analysis
12.4 Sales Channel and Sales Model Analysis of Automotive LED Lighting
13 Market dynamics
Automotive Lighting Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share and Forecast, 2021-2027
the automotive lighting market is expected to see significant growth by 2027, driven by growing demand for these systems across the globe. Moreover, the increasing focus on technological advancement is expected to further drive the market growth throughout the forecast period. On the regional spectrum, the automotive lighting market in North America is expected to generate a respectable valuation by the end of 2027. The implementation of stringent regulations associated with road safety in the United States and Canada is likely to play a vital role in the growth of the regional market. over the next few years. Driven by successful vaccination campaigns in major regions in response to the COVID-19 pandemic, the automotive industry is now seeing an increase in demand. Subsequently, the increase in automobile sales has significantly improved the dynamics of the market.
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