The automotive industry is expanding rapidly in India, China, South Korea, and Japan, which together accounted for more than 80% of global vehicle production in 2021. The demand for automotive ambient lighting is rising quickly due to the automotive industry's expansion and growth. Through the fact that LED lights use 50% less energy than other lights to produce the same amount of light, they are predicted to experience the fastest growth in the technology sector during the forecast period.
According to Data Bridge Market Research, Automotive Ambient Lighting Market is expected to reach USD 9935.34 million by 2030, which is USD 3633.10 million in 2022, at a CAGR of 13.40% during the forecast period.
“Enhanced interior aesthetics surge market demand"
Ambient lighting in automobiles plays a crucial role in enhancing the interior aesthetics of vehicles. Through incorporating customizable color variations, dynamic lighting effects, and unique designs, ambient lighting creates a visually appealing and luxurious ambiance inside the vehicle. It allows vehicle occupants to personalize their driving experience and create a comfortable and visually appealing environment. The use of ambient lighting adds a touch of sophistication and style, making the interior of the vehicle more visually engaging and enjoyable.
What restraints the growth of the automotive ambient lighting market?
“High cost can impede the market growth”
The high cost of advanced ambient lighting systems poses a challenge in the automotive market. Integrating these sophisticated lighting systems increases the production cost, making them less viable for lower-end or budget vehicles. Price-sensitive consumers may be deterred by the higher price point, limiting the adoption of ambient lighting in these segments. This cost barrier restricts market growth, as affordability plays a crucial role in the widespread adoption of ambient lighting technology.
Segmentation: Global Automotive Ambient Lighting Market
The automotive ambient lighting market is segmented on the basis of product type, technology, vehicle type, fuel type, passenger car and application
- On the basis of product type, the automotive ambient lighting market is segmented into dashboard lights, ambient lighting, head-up display, reading lights, others.
- On the basis of technology, the automotive ambient lighting market is segmented into halogen, led, xenon
- On the basis of vehicle type, the automotive ambient lighting market is segmented into passenger vehicles, commercial vehicles, and heavy commercial vehicles.
- On the basis of fuel type, the automotive ambient lighting market is segmented into battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle.
- On the basis of passenger car, the automotive ambient lighting market is segmented into c, d, e, and f.
- On the basis of application, the automotive ambient lighting market is segmented into center console, dashboard, doors, footwall, others.
Regional Insights: Asia-Pacific Dominates the Global Automotive Ambient Lighting Market
Asia-Pacific dominates the automotive ambient lighting market in revenue growth due to several factors. The region houses major market players with a strong presence and contributes to the market's growth. Additionally, Asia-Pacific has witnessed a rapid increase in the manufacturing of vehicles, driven by factors such as rising disposable income, urbanization, and expanding middle-class population. This growth in vehicle production further boosts the demand for automotive ambient lighting in the region.
During the forecast period, North America is expected to be the fastest developing region in the automotive ambient lighting market. This can be attributed to premium car manufacturers that already equip their vehicles with ambient lighting as a standard or optional feature. The demand for premium cars in North America, coupled with the increasing consumer preference for enhanced interior aesthetics and luxury features, drives the growth of the automotive ambient lighting market in the region.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-automotive-ambient-lighting-market
Recent Developments in Global Automotive Ambient Lighting Market
- In 2021, The "lighting grille" technology from Hyundai Mobis, which consists of an integrated LED lighting system that illuminates the entire front grill of a vehicle, was unveiled. It has a variety of operating modes, including sound beat display, welcome light function, autonomous driving mode, EV charging mode, and emergency warning light display.
The Prominent Key Players Operating in the Global Automotive Ambient Lighting Market Include:
- Tenneco Inc. (U.S.)
- Koito Manufacturing Co., Ltd (Japan)
- Akzo Nobel N.V. (Netherlands)
- OSRAM GmbH (Germany)
- General Electric (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Robert Bosch GmbH (Germany)
- Ashland Inc. (U.S.)
- PARKER HANNIFIN CORP (U.S.)
- Texas Instruments Incorporated. (U.S.)
- VALEO (France)
- Mercedes-Benz Group AG. (Germany)
- Ford Motor Company (U.S.)
- Franklin International (U.S.)
- HYUNDAI MOBIS (Sweden)
- Mapei S.p.A (Italy)
Above are the key players covered in the report, to know about more and exhaustive list of global automotive ambient lighting market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Automotive Ambient Lighting Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
