A Brief Analysis of Global Automotive Lighting Market from 2001 to 2023
The global automotive lighting market is rapidly growing and is expected to reach 30.107 billion U.S. dollars by the end of 2023. According to the latest research and forecast report, the automotive lighting market is affected by factors such as adaptive lighting technology, the expansion of the auto industry, especially the expansion of markets in China, Mexico, India, and other countries; and the new wave of technological innovations that the automotive industry is constantly experiencing. Various automotive parts such as lighting systems and sales of passenger cars in emerging markets have all had a profound impact on the global automotive lighting market.
Technology is another important aspect of the automotive industry. It has not only been transformed in terms of design and style, but also in terms of technology. The emergence of adaptive lighting technology is one of the most noteworthy technological developments in the field of automotive lighting. Many high-end and mid-range cars are now equipped with adaptive lighting systems. At the same time, advanced LED and HID lamp systems are rapidly replacing traditional lighting systems. Manufacturers are also focusing on innovation in lighting technology to prepare for the next wave of automotive technology, mainly due to trends in automation and autopilot. It is expected that the above factors will be the main driving force for the development of the global automotive lighting market in the next six years.
Market segmentation
Based on the type of automobile, the automotive market can be divided into heavy commercial vehicles, light commercial vehicles and passenger vehicles; based on the application, the automotive market can be divided into sidelights, headlights, interior lights and taillights; based on the end market can be divided into after-sales And OEM market; based on technology can be divided into xenon lamps, LED and halogen lamps.
Regional Analysis
The global automotive lighting market can be divided into North America, Europe, Asia Pacific and other regions by region. The global automotive lighting market has grown significantly in the past few years and will maintain the same level of growth during the forecast period. Among them, the Asia Pacific region will account for the largest share of the global automotive lighting market, followed by North America and Europe.
Latest industry trends and related news
Fiat Chrysler Automobiles recently revealed plans to separate Magneti Marelli's business, which is part of its subsidiary. This move will enable the company to create greater value for its shareholders and to provide more operational flexibility for its strategic growth of Magneti Marelli, a high-tech parts business.
A few days ago, Philips Lighting announced that the company name will be changed from Philips Lighting to "Signify", which immediately triggered the attention of the outside world to the new brand of Philips Lighting. Under the licensing agreement with Royal Philips, the company's products will continue to use Philips, the world's most trusted lighting brand.