Global Automotive LED Lighting Market to Grow at YOY of 4.15% between 2022 and 2023, Insights on Post- Covid Analysis and Recovery-Technavio

NEW YORK, Jan. 23, 2023 /PRNewswire/ — According to Technavio, the global automotive LED lighting market size is estimated to grow by USD 2,005.77 million from 2022 to 2027. The market is expected to grow at a CAGR of 4.45%. The market is expected to grow at a CAGR of 4.45%. Moreover, the growth momentum will accelerate. Moreover, the growth momentum will accelerate. The COVID-19 outbreak declined the market growth in the region in 2020. However, in 2021, due to the vaccination drives carried out by the government of several countries many industries, including automotive production, resumed their operations, resulting in an increase in the demand for such lighting products. In addition, the rise in the demand for new technology automotive lighting, such as OLED, matrix LED, and laser lighting will foster the growth of the regional market. Hence, such factors are expected to fuel the regional market growth during the forecast period. Request a sample report

The supply chain for automobiles has been impacted by the ongoing Russia–Ukraine conflict. Auto sales have fallen slightly in 2022 because of significant price volatility and a constrained product supply. The prolonged confrontation between Russia and Ukraine has caused delays in the production of finished items. This has had a substantial impact on the development of the automotive industry, which has hurt European customers’ interest in the sector. This will negatively impact the growth of the global automotive market during the forecast period. For more insights – buy the report!

Global automotive LED lighting market – Five forces

The global automotive LED market is fragmented, and the five forces analysis covers – 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes

Global automotive LED lighting market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global automotive LED lighting market – Segmentation assessment

Segment overview

Technavio has segmented the market based on type (exterior and interior) and application (passenger cars and commercial vehicles). 

• The exterior segment will grow at a significant rate during the forecast period. This segment includes LED lighting applications for the front, rear, side, and top portions of vehicles. Some of the common application areas include headlights, position lamps, fog lights, DRLs, turn signals, taillights, side mirror lamps, center high-mount stop lights (CHMSLs), license plate lamps, and reflectors. LED lighting is used in modern vehicles for applications such as headlights and DRLs. The rising demand for LED lighting and technological advances enable vendors to lower production costs. These factors will drive the growth of the segment during the forecast period.

Geography overview

Based on geography, the global automotive LED 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 LED lighting market.

• APAC is estimated to account for 59% of the growth of the global market during the forecast period. The demand for automotive LED lighting in this region is expected to outpace the demand in North America and Europe. This is because of the growing demand for safety and convenience features in modern vehicles by end-users from emerging markets in the region. Moreover, consumers’ preference is shifting from fuel efficiency to aesthetics and advanced features, which is also expected to increase the adoption of LED lighting solutions.

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Global automotive LED lighting market – Market dynamics

Key factor driving market growth

 

• The growing popularity of ambient lighting in automobiles is driving market growth.
• Ambient lighting enhances the appearance of cabins at night. It uses light pipes, light rings, LED pin spotlights, and diffuser lenses integrated into the vehicle’s console, door panels, instrument panels, and seat frames.
• LEDs are used for ambient lighting in cabins, as they are small in size and require low energy consumption.
• Such factors will fuel the market growth during the forecast period.

Leading trends influencing the market 

• The growing adoption of adaptive lighting systems is a key trend in the market.
• Adaptive lighting systems change the distribution of light according to the driving circumstances.
• LED technology is used for the efficient and reliable operation of these systems, which is increasing their population.
• Prominent automotive OEMs are also offering adaptive lighting systems. For instance, in 2022, Porsche showcased HD matrix LED headlight technology.
• Such factors will support the market growth during the forecast period.

Major challenges hindering market growth

• The rising prices of raw materials are challenging market growth.
• Some of the raw materials used in automotive LED lighting include aluminum, copper, polyvinyl chloride (PVC), and paper. The prices of these materials have increased in recent years.
• Moreover, the rising price of crude oil is increasing the price of PVC.
• As the prices of raw materials fluctuate frequently, manufacturers find it challenging to maintain stock, which increases the operational cost.
• These factors will hamper the global market growth during the forecast period. 

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this automotive LED lighting market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive LED lighting market between 2023 and 2027
• Precise estimation of the size of the automotive LED lighting market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive LED lighting market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive LED lighting market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive LED lighting market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on Global automotive LED lighting market 2017 – 2021 ($ million)

• 4.2 Type Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 ($ million)

• 4.3 Application Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – Application Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type – Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Exterior – Market size and forecast 2022-2027
• Exhibit 34: Chart on Exterior – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Exterior – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Exterior – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Exterior – Year-over-year growth 2022-2027 (%)

• 6.4 Interior – Market size and forecast 2022-2027
• Exhibit 38: Chart on Interior – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Interior – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Interior – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Interior – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 43: Chart on Application – Market share 2022-2027 (%)
• Exhibit 44: Data Table on Application – Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 45: Chart on Comparison by Application
• Exhibit 46: Data Table on Comparison by Application

• 7.3 Passenger cars – Market size and forecast 2022-2027
• Exhibit 47: Chart on Passenger cars – Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Passenger cars – Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Passenger cars – Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Passenger cars – Year-over-year growth 2022-2027 (%)

• 7.4 Commercial vehicles – Market size and forecast 2022-2027
• Exhibit 51: Chart on Commercial vehicles – Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Commercial vehicles – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Commercial vehicles – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Commercial vehicles – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Application 
• Exhibit 55: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027
• Exhibit 61: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027
• Exhibit 65: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027
• Exhibit 69: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027
• Exhibit 73: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027
• Exhibit 81: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027
• Exhibit 85: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 Germany – Market size and forecast 2022-2027
• Exhibit 89: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.11 Japan – Market size and forecast 2022-2027
• Exhibit 93: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.12 South Korea – Market size and forecast 2022-2027
• Exhibit 97: Chart on South Korea – Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on South Korea – Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on South Korea – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on South Korea – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 Changzhou Xingyu Automotive Lighting System Co. Ltd.
• Exhibit 108: Changzhou Xingyu Automotive Lighting System Co. Ltd. – Overview
• Exhibit 109: Changzhou Xingyu Automotive Lighting System Co. Ltd. – Product / Service
• Exhibit 110: Changzhou Xingyu Automotive Lighting System Co. Ltd. – Key offerings

• 12.4 Everlight Electronics Co. Ltd. 
• Exhibit 111: Everlight Electronics Co. Ltd. – Overview
• Exhibit 112: Everlight Electronics Co. Ltd. – Business segments
• Exhibit 113: Everlight Electronics Co. Ltd. – Key news
• Exhibit 114: Everlight Electronics Co. Ltd. – Key offerings
• Exhibit 115: Everlight Electronics Co. Ltd. – Segment focus

• 12.5 HELLA GmbH and Co. KGaA 
• Exhibit 116: HELLA GmbH and Co. KGaA – Overview
• Exhibit 117: HELLA GmbH and Co. KGaA – Business segments
• Exhibit 118: HELLA GmbH and Co. KGaA – Key news
• Exhibit 119: HELLA GmbH and Co. KGaA – Key offerings
• Exhibit 120: HELLA GmbH and Co. KGaA – Segment focus

• 12.6 Hyundai Mobis Co. Ltd 
• Exhibit 121: Hyundai Mobis Co. Ltd – Overview
• Exhibit 122: Hyundai Mobis Co. Ltd – Business segments
• Exhibit 123: Hyundai Mobis Co. Ltd – Key news
• Exhibit 124: Hyundai Mobis Co. Ltd – Key offerings
• Exhibit 125: Hyundai Mobis Co. Ltd – Segment focus

• 12.7 Koito Manufacturing Co. Ltd 
• Exhibit 126: Koito Manufacturing Co. Ltd – Overview
• Exhibit 127: Koito Manufacturing Co. Ltd – Business segments
• Exhibit 128: Koito Manufacturing Co. Ltd – Key offerings
• Exhibit 129: Koito Manufacturing Co. Ltd – Segment focus

• 12.8 Koninklijke Philips NV 
• Exhibit 130: Koninklijke Philips NV – Overview
• Exhibit 131: Koninklijke Philips NV – Business segments
• Exhibit 132: Koninklijke Philips NV – Key news
• Exhibit 133: Koninklijke Philips NV – Key offerings
• Exhibit 134: Koninklijke Philips NV – Segment focus

• 12.9 LG Electronics Inc. 
• Exhibit 135: LG Electronics Inc. – Overview
• Exhibit 136: LG Electronics Inc. – Business segments
• Exhibit 137: LG Electronics Inc. – Key news
• Exhibit 138: LG Electronics Inc. – Key offerings
• Exhibit 139: LG Electronics Inc. – Segment focus

• 12.10 Lumax Industries Ltd. 
• Exhibit 140: Lumax Industries Ltd. – Overview
• Exhibit 141: Lumax Industries Ltd. – Product / Service
• Exhibit 142: Lumax Industries Ltd. – Key offerings

• 12.11 Lumileds Holding BV 
• Exhibit 143: Lumileds Holding BV – Overview
• Exhibit 144: Lumileds Holding BV – Product / Service
• Exhibit 145: Lumileds Holding BV – Key offerings

• 12.12 Marelli Holdings Co Ltd 
• Exhibit 146: Marelli Holdings Co Ltd – Overview
• Exhibit 147: Marelli Holdings Co Ltd – Product / Service
• Exhibit 148: Marelli Holdings Co Ltd – Key news
• Exhibit 149: Marelli Holdings Co Ltd – Key offerings

• 12.13 OSRAM GmbH 
• Exhibit 150: OSRAM GmbH – Overview
• Exhibit 151: OSRAM GmbH – Business segments
• Exhibit 152: OSRAM GmbH – Key offerings
• Exhibit 153: OSRAM GmbH – Segment focus

• 12.14 Samsung Electronics Co. Ltd. 
• Exhibit 154: Samsung Electronics Co. Ltd. – Overview
• Exhibit 155: Samsung Electronics Co. Ltd. – Business segments
• Exhibit 156: Samsung Electronics Co. Ltd. – Key news
• Exhibit 157: Samsung Electronics Co. Ltd. – Key offerings
• Exhibit 158: Samsung Electronics Co. Ltd. – Segment focus

• 12.15 Stanley Electric Co. Ltd. 
• Exhibit 159: Stanley Electric Co. Ltd. – Overview
• Exhibit 160: Stanley Electric Co. Ltd. – Business segments
• Exhibit 161: Stanley Electric Co. Ltd. – Key offerings
• Exhibit 162: Stanley Electric Co. Ltd. – Segment focus

• 12.16 Valeo SA 
• Exhibit 163: Valeo SA – Overview
• Exhibit 164: Valeo SA – Business segments
• Exhibit 165: Valeo SA – Key offerings
• Exhibit 166: Valeo SA – Segment focus

• 12.17 Varroc Lighting 
• Exhibit 167: Varroc Lighting – Overview
• Exhibit 168: Varroc Lighting – Product / Service
• Exhibit 169: Varroc Lighting – Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 170: Inclusions checklist
• Exhibit 171: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 172: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 173: Research methodology
• Exhibit 174: Validation techniques employed for market sizing
• Exhibit 175: Information sources

• 13.5 List of abbreviations 
• Exhibit 176: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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