Automotive lighting market size to grow by USD 14.41 billion from 2022 to 2027

The global automotive lighting market size is estimated to increase by USD 14,415.24 million. The market's growth momentum will progress at a CAGR of 9.79%. Our market analysis reveals a fragmented landscape, featuring prominent entities such as FLEX N GATE Corp, General Electric Co., Hyundai Motor Group, Koito Manufacturing Co. Ltd, and Koninklijke Philips NV. Additionally, our comprehensive report delves into market trends and competitive insights, encompassing analysis of 15 key players, including Lumax Industries Ltd., Marelli Holdings Co Ltd, Namyung Lighting Co. Ltd, NXP Semiconductors NV, and more. This in-depth exploration highlights the industry's dynamics and showcases significant contributors like Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., and others. For businesses seeking nuanced understanding and strategic positioning within this sector, our report offers invaluable insights and actionable intelligence.

The market share growth of the passenger segment will be higher than the other segments during the forecast period. The market for interior vehicle lighting is primarily driven by the rise in demand for luxury cars, particularly in developing nations, as well as technology advancements and improvements to vehicle safety. Market expansion is anticipated to be boosted by the combination of these lighting systems with infotainment systems and ambient lighting as brand differentiators. The growing popularity of sport utility vehicles (SUVs) among consumers will be the main factor driving the passenger cars sector of the global automotive lighting market during the projected period.

By geography, the global automotive lighting market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive lighting market.

APAC will account for 58% of the market's growth during the forecast period. Due to the rising demand for LED lighting systems and increased auto production in the region, the APAC automotive lighting market will expand gradually during the projected period. Governmental incentives and the development of an EV charging infrastructure are also boosting the demand for these vehicles in the area. The region is predicted to adopt strict emission standards due to the growing concern about the use of diesel-powered vehicles, which is expected to increase demand for EVs in APAC.