Market Size of Automotive Perimeter Lighting Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Automotive Perimeter Lighting Market Analysis
The Automobile Perimeter Lighting Market was valued at USD 28.0 Billion in 2021 and is projected to grow to 41.62 Billion by 2027, registering a CAGR of 7.2% in terms of revenue during the forecast period.
The COVID-19 pandemic has affected the growth of the automotive perimeter lighting market. The decline in passenger car and commercial vehicle sales in 2020 and the temporary shutdown of vehicle and component production facilities have resulted in a decrease in the total market of automotive perimeter lighting. However, the automotive industry is now recovering from the losses and paving the way to introduce quality products to cater to the rising demand from consumers across the globe. The automotive industry witnessed significant growth in terms of production in 2021, which is likely to increase the demand for the perimeter lighting market during the forecast period.
Over the medium term, Automotive perimeter lighting is majorly driven by innovations in lighting technologies and improving safety and comfort. The automotive industry primarily spins around the regulatory norms on protection and environmental aspects formulated by different countries and customer preferences for upgraded style and comfort.
Currently, manufacturers are replacing halogen lights with LED lights because of their energy efficiency, requiring lesser maintenance than halogen and xenon lights. To reduce production and maintenance costs, vehicle manufacturers increase their incorporation of LED light for automotive lighting applications.
Luxury cars, sports cars, SUVs, and crossovers are usually integrated with xenon and other intelligent LED lighting systems. Mid-size cars are also increasingly deploying these systems, with the increase in the availability of cost-efficient but highly proficient perimeter lighting systems. OEMs, such as Ford and Nissan, are also deploying these lighting systems with additional features that are equally cost-effective and, at the same time, adhere to quality standards.
Automotive Perimeter Lighting Industry Segmentation
Perimeter lights welcome you into the interior of your car. If you unlock your car with a key, there's no sound, and neither headlights nor tail lights flash. If you use your keyless entry system, the horn gives a short beep, the headlights and backup lights flash, and the interior lights reward you with sufficient light to ensure the interior is safe to enter.
The Automobile Perimeter Lighting Market is segmented by vehicle type, light type, sales channel, and geography. Based on the vehicle type, the market is segmented into passenger cars and commercial vehicles. Based on the light type, the market is segmented into Halogen, Xenon, LED, and others. Based on the sales channel, the market is segmented into OEM and aftermarket. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. For each segment, the market sizing and forecast is done in terms of value (USD Billion).
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| By Light Type | |
| Halogen | |
| Xenon | |
| LED | |
| Others |
| By Sales Channel | |
| OEM | |
| Aftermarket |
| By Geography | ||||||||
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Automotive Perimeter Lighting Market Size Summary
The automotive perimeter lighting system market is experiencing a resurgence following the challenges posed by the COVID-19 pandemic, which had temporarily hindered growth due to reduced vehicle sales and production shutdowns. As the automotive industry recovers, there is a growing demand for advanced lighting solutions that enhance safety and comfort. The market is witnessing a shift from traditional halogen lights to more energy-efficient LED systems, driven by their lower maintenance costs and superior performance. This transition is particularly evident in luxury vehicles, sports cars, SUVs, and crossovers, where intelligent LED lighting systems are becoming increasingly prevalent. The market is also seeing a rise in the adoption of aesthetically appealing lighting products, such as puddle lamps and door handle lights, which are now being offered in more affordable mid-size cars, thanks to advancements in technology and reduced costs in the aftermarket.
The Asia-Pacific region, particularly China, is leading the market due to rising disposable incomes and increased demand for medium-segment cars and compact SUVs. The region's growth is further fueled by the burgeoning electric vehicle market, which requires extensive charging infrastructure. In Europe, the focus on passenger and pedestrian safety is driving investments in advanced lighting technologies. Key players in the market, such as Samvardhana Motherson Group, Gentex Corporation, and Koito Manufacturing Co. Ltd, are actively investing in research and development to innovate and expand their product offerings. Collaborations and joint ventures, like those between Magna and LAN Manufacturing, are enhancing vehicle design possibilities and integrating new lighting solutions. The market's fragmented nature, with a significant share held by the aftermarket, presents opportunities for new entrants to introduce innovative products with competitive pricing strategies.
Automotive Perimeter Lighting Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size By Value - USD Billion)
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2.1 By Vehicle Type
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2.1.1 Passenger Cars
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2.1.2 Commercial Vehicles
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2.2 By Light Type
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2.2.1 Halogen
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2.2.2 Xenon
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2.2.3 LED
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2.2.4 Others
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2.3 By Sales Channel
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2.3.1 OEM
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2.3.2 Aftermarket
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Rest of North America
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 India
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2.4.3.2 China
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2.4.3.3 Japan
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2.4.3.4 South Korea
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2.4.3.5 Rest of Asia Pacific
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2.4.4 Rest of the World
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2.4.4.1 South America
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2.4.4.2 Middle-East and Africa
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Automotive Perimeter Lighting Market Size FAQs
What is the current Automotive Perimeter Lighting Market size?
The Automotive Perimeter Lighting Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)
Who are the key players in Automotive Perimeter Lighting Market?
Samvardha Motherson Group , Gentex Corporation, Koito Manufacturing Co. Ltd, Feniex Industries and HELLA GmbH & Co. KGaA are the major companies operating in the Automotive Perimeter Lighting Market.
