Market Trends of Automotive Lighting Industry
This section covers the major market trends shaping the Automotive Lighting Market according to our research experts:
Growing Demand for Cabin Comfort and Luxury Features
The automotive industry is in the midst of a technological revolution characterized by the convergence of new technology with traditional car manufacturing. With the increasing trend of electric vehicles, automotive lighting manufacturers are developing new lighting technologies to replace the old traditional lights. Electric vehicle manufacturers are launching new vehicle models with the best cabin interiors. For instance, in September 2020, Lucid Motors launched Lucid Air, a luxurious electric sedan that offers a full-size luxury-class interior, which is based on Lucid's exclusive Space Concept philosophy.
Upcoming interior lighting developments will be mainly driven by safety, communication, comfort, and styling demands. Light projections, smart LEDs, micro-LEDs, smart functional surfaces, laser-based lighting, guiding materials for 3D light patterns on-demand, and area backlighting with hidden-until-lit effects are some of the new lighting technologies.
Cabin lights are gaining popularity. They mainly include reading lights and dashboard lights. Interior lights include various applications in the form of reading lamps, ambient interior lighting systems, and roof modules with optimized light guide technology. Additionally, the adaptive lighting system is seeing a positive growth rate, although their demands remain much smaller than LED lights.
Asia-Pacific is Leading the Automotive Lighting Market
Geographically, the automotive lighting market is led by the Asia-Pacific region, followed by the European and North American regions. Some of the major factors driving the growth of the markets in these regions are -
- An increase in the demand for and the sales of luxury cars.
- An increase in the production of vehicles.
- An increase in the sales of and demand for commercial vehicles, owing to the growing logistics industry (primarily due to the propelling e-commerce sector in the region) and the construction industry.
- A rise in the sales of low-cost vehicles, due to an increase in the disposable incomes of middle-class consumers.
- An increase in the number of accidents, especially during the night.
Europe has been recognized as a major region, focusing on both passengers and pedestrian safety and implementing safety standards for vehicles. The regional automotive manufacturers and the automotive component suppliers have been continually investing in the R&D of safety technologies. With rapid technological advancements in the automotive industry, the European region is expected to play a major role in the global automotive lighting market. The region is home to numerous major manufacturers, such as Hella KGaA Hueck & Co., Philips, OSRAM Licht AG, Valeo, Zizala, Robert Bosch, and ZKW.
