New York, United States, Aug. 15, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Automotive Interior Ambient Lighting Market Analysis by product type, by technology, by vehicle type and by region – Forecast to 2030″ the assessment is about to reach USD 3,800 million by 2030, registering a CAGR of 10.60% throughout the forecast period (2022-2030).
Automotive interior ambient lighting market overview
The automotive interior ambient lighting market is booming. Sustainable and energy-efficient lighting systems have a huge impact on the economy of the automotive industry. Over the past decade, automobile production and sales have exploded worldwide, justifying market demand. Government reforms and regulations and growing demand for improved automotive safety are increasing the size of the market.
Scope of Automotive Interior Ambient Lighting Market Report:
|Market size by 2030||3800 million dollars|
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An efficient lighting system is a crucial aspect of automobiles; hence, they are in high demand. Additionally, durable and energy-efficient interior ambient lighting systems have a huge impact on the economy of the automotive industry. Growing demand for reliable and highest quality lighting solutions is influencing the growth of the market. Moreover, changing consumer demand is accelerating market share.
Automotive interior ambient lighting market segments
This market is segmented into product types, technologies, vehicle types and regions. The product type segment includes dashboard lights, ambient lights, head-up displays, map lights and others. The technology segment includes halogen, LED and xenon. Of these, LED technology represents the largest segment due to the increased energy efficiency it offers. The vehicle type segment includes passenger vehicles and commercial vehicles. The regional segment includes Americas, Asia Pacific, Middle East & Africa, Europe and Rest of the World.
Automotive Interior Ambient Lighting Market Regional Analysis
North America dominates the global automotive interior ambient lighting market. The emergence of high-quality lighting systems that can improve automotive safety is increasing the market size of the region. Furthermore, the presence of major automobile manufacturers and growing demand for luxury cars in the region is driving the growth of the market.
The benefits of indoor ambient lighting such as energy efficiency and reduced greenhouse gas emissions are driving the growth of the regional market. The North American automotive interior ambient lighting market is expected to maintain its dominance throughout the estimated time frame.
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Europe ranks second in the global automotive interior ambient lighting market. The presence of well-established market players and the automobile industry which is witnessing strong growth in the production and sales of vehicles influences the market value. Additionally, increasing adoption of energy efficient lighting sources such as LED lamps in the region is driving the automotive lighting industry market revenue.
Strict government regulations aimed at reducing vehicle CO2 emissions are driving the interior ambient lighting market in the region. With the presence of leading automakers and smart technologies, Germany accounts for a large share of the regional market, followed by the UK and France. The European automotive interior ambient lighting market is expected to witness significant growth over the assessment period.
The Asia-Pacific region is a rapidly growing market for automotive interior ambient lighting systems. Factors such as booming automobile industry and demand for luxury cars are influencing the growth of the regional market. South Korea, India and China are the major automotive interior ambient lighting markets in the region. The APAC automotive interior ambient lighting market is expected to register a substantial CAGR over the next few years.
The automotive industry is going through major transformations. Automakers are increasingly focusing on ensuring minimal inconvenience to drivers by facilitating optimized operational techniques. Over the past decade, automobile production and sales have surged, justifying market demand. The increase in the disposable income of the middle income groups increases the sales in the market, driving the automobile industry.
Growing urban population and expansion of global automakers into new emerging markets are positively influencing the market revenue. Additionally, increasing R&D investment in the development of efficient indoor ambient lighting systems increases the market value. The growing demand for reliable and quality lighting solutions is influencing the growth of the market.
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Automotive Interior Ambient Lighting Market Competitive Analysis
The automotive interior ambient lighting market appears to be highly competitive due to the presence of several small and large players. These players are incorporating strategic initiatives such as innovations in products and manufacturing techniques, mergers and acquisitions, and brand building to boost market competition and maintain their market positions.
For example, on August 04, 2022, Ford unveiled its 2023 Explorer model in China with a revised exterior and interior. The new range comes with a complete facelift from the sixth-generation Explorer, with a redesigned exterior and a massive new screen inside the cabin. The new SUV will likely make its official debut at the Chengdu Auto Show in late August 2022. Ford designed the slimmer air vents to elevate the center console and create a more upscale atmosphere with ambient lighting and leather upholstery.
In another case, on February 22, 2022, Motherson, one of the world’s leading manufacturers of interior and exterior automotive components, announced a partnership with the Valeo group to develop an automotive interior lighting system. This partnership would allow Motherson to integrate Valeo’s innovative lighting systems into its new cabin interior modules and surfaces.
The MOU aims to create a futuristic motor vehicle interior by integrating lighting systems with advanced surface finishes. Thanks to these new technologies, the dashboards, door panels, center consoles and other interior trim will be completely redesigned.
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The Dominant Key Players covered in the Automotive Interior Ambient Lighting Market are:
- Koito Manufacturing Co.Ltd. (Japan)
- Hella KGaA Hueck & Co (Germany)
- Federal-Mogul Corporation (USA)
- OSRAM Licht AG (Germany)
- GE Lighting (USA)
- Magneti Marelli SpA (Italy)
- Valeo (France)
- Antolin Group (Spain)
- Zizala Lichtsysteme GmbH (Austria)
- Stanley Electric Co.Ltd. (Japan)
- Ichikoh Industries Ltd. (Japan)
- OSRAM Licht AG (Germany)
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