Automotive Ambient Lighting Market Outlook 2022 | Main players HELLA (Germany), Valeo SA (France), ams OSRAM (Austria)
“Attractive opportunities in the automotive ambient lighting market”
Automotive Ambient Lighting Market by IC and Electric Vehicle (BEV, FCEV, PHEV), Application (Foot, Door, Dashboard, Center Console), Passenger Car (C, D, E and F), Aftermarket ( country and application (indoor and outdoor) – Global forecast to 2027
The automotive ambient lighting market size is expected to reach USD 6.2 billion by 2027, from approximately USD 3.8 billion in 2022, growing at a CAGR of 10.6% from 2022 to 2027. The market is expected to grow growth due to increase in vehicle production, customer inclination towards comfort and safety features. Likewise, growing demand for comfort and safety features in premium segment vehicles in growing economies such as China and India is expected to drive the ambient lighting market in the near future.
The automotive ambient lighting market is offered for several applications such as dashboard, center console, doors, floor, etc., by OEMs of medium to high-end cars. To attract customers and differentiate themselves from the competition, OEMs have started to offer ambient lighting in one or more applications in the mid- to high-end variants of their models. Additionally, the ambient lighting system is also offered as an accessory by OEMs to be installed in lower variants that provide similar performance to the original fitted system. Thus, the growth of automotive ambient lighting is expected to be noticed in developing Asia-Pacific countries in lower to mid segment vehicles.
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Developed countries such as the United States, Canada, United Kingdom and Germany are investing heavily in electric vehicles. Manufacturers such as Tesla and BYD are launching electric vehicles in all segments. The electric vehicle market has been growing at a rapid pace in developed countries owing to the availability of charging infrastructure, which is a key driver for the growing adoption of electric vehicles. A dense charging infrastructure allows electric vehicle users to travel long distances without having to worry about range. China and the United States recorded the highest sales of electric vehicles.
Developing solutions for next-generation vehicles such as electric vehicles, self-driving vehicles, and self-driving cars is expected to become the most promising opportunity for automotive ambient lighting manufacturers. Another major opportunity for market players is long-term partnerships with OEMs and technology companies for the improvement of lighting technology. Hence, growing sales of electric and autonomous vehicles with advanced safety features will drive the automotive ambient lighting market.
With the growing popularity and usage of automotive ambient lighting, the dashboard ambient lighting segment is expected to register the highest growth from 2022 to 2027. The growth of dashboard ambient lighting can be attributed to the growing adoption of ambient lighting in C- and D-segment vehicles.
The F-segment passenger car is expected to register the highest CAGR for the automotive ambient lighting market. Improving economic conditions and increasing purchasing power, increasing customer preference for premium vehicles increases demand. Many major players in the global market like Hella (Germany), ams Osram (Austria) and Valeo SA (France), are focusing on the development of luxury vehicle products with advanced technology due to the growing demand.
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Asia-Pacific is expected to be the largest secondary market for automotive ambient lighting in terms of volume and value. The main contributing countries are China, Japan, South Korea and India. The main reason for this growth is the huge fleet of A- and B-segment vehicles in this region. Over the past decade, the economy of Asian countries has improved thanks to the growing economic development of China and India. Asia-Pacific is also considered a production hub for the automotive industry, especially for low-mid segment cars. With the increase in disposable income availability of easy aftermarket options and the increase in young population, sales of secondary cars have increased with the installation of ambient lighting has been a trend in these cars. All the factors are expected to continue in the coming years, which would enable the Asia-Pacific region to dominate the automotive ambient lighting aftermarket in the future as well.
Main market players:
Key companies of the Automotive Ambient Lighting market are profiled in the study. These include HELLA (Germany), Valeo SA (France), ams OSRAM (Austria), Grupo Antolin (Spain), Signify (Philips Lighting) (Netherlands), Koito Manufacturing Co., Ltd. (Japan) and Stanley Electric Co., Ltd. (Japan).
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