Automotive Lighting Market to reach USD 51.4 billion by 2027

According to a comprehensive research report by Market Research Future the global automotive lighting market is projected to reach USD 51.4 billion by 2027 from an estimated USD 40.1 billion in 2019, at a CAGR of 7.1%.

Automotive lighting is made up of signaling and lighting devices that are incorporated or mounted on the rear, front, top, and sides of vehicles. These lights improve the driver's vision of both the vehicles and the road. They enable pedestrians and other drivers to observe the position of the vehicle, presence, size, direction of movement, and so on.

The key elements driving the market for lighting equipment are an increase in concerns about road safety and government lighting restrictions. Furthermore, factors such as increased disposable incomes and improvements in lifestyle and transportation requirements are contributing to an increase in vehicle production, which, in turn, increases demand for automotive lighting.