Rise in Electric Vehicle Sales is Catalyzing Automotive Interior Lighting System Market
According to our latest market study on "Automotive Interior Lighting System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Application, Vehicle, and Sales Channel," the automotive interior lighting system market is expected to grow from US$ 4.86 billion in 2021 to US$ 8.56 billion by 2028 with an estimated CAGR of 8.8% from 2022 to 2028.
Automotive Interior Lighting System Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Product (Roof Console, Reading Lights, Car Body Lighting, Ambient Lighting); Vehicle (Economy, Mid-priced, Luxury Vehicles) , and Geography (North America, Europe, Asia Pacific, and South and Central America)
Automotive Interior Lighting System Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
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With electrification and connectivity becoming one of the prime focus for automakers, electric vehicles are anticipated to observe a significant demand across the globe. The automotive interior lighting market is bolstered by the green, sustainable trend, sales, and automotive interior lighting system market share of electric vehicles (EVs) and the growing emphasis of the manufacturers to develop and produce new energy vehicles, which boost the demand for automotive interior lighting system.
In September 2020, Volkswagen’s all-electric ID.4 compact SUV was announced to be released with an interior equipped with touchscreens and ambient lighting. The company plans to invest US$ 13 billion in electric mobility by 2024 as part of its Transform 2025+ strategy.
Manufacturers in the electric vehicle market are focusing on the incorporation of digital screens in the automobiles. Digital screens are located at the line of sight of the driver and another larger touchscreen is in the center. The digital screen rises above the dashboard, so that the driver does not have to look over and down at the screen. Further, manufacturers are incorporating physical buttons to the right of the steering wheel to control the active driver assistance systems. The introduction of ambient lighting is designed to alert the driver that the vehicle’s drive system is active. The light strip also signals braking prompts and incoming phone calls.
The global automotive interior lighting system market is segmented into technology, application, vehicle, and sales channel. Based on technology, the automotive interior lighting system market is segmented as Halogen, Xenon, and LED. By technology, the automotive interior lighting system market is categorized into dashboard lights, ambient lights, centre stack lights, reading lamps, head up display, map lighting, and dome. In terms of vehicle, the market is divided into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. From sales channel point of reference, the market is bifurcated into original equipment manufacturers and retrofit.
Osram Licht AG, Hella KGaA Hueck & Co, Magneti Marelli S.p.A, Koito Manufacturing Co ltd, Stanley Electric, Texas Instruments, Draxlmaier Group, Philips Lighting, Grupo Antolin, and Federal-Mogul Corporation are among the key players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the automotive interior lighting system market and its ecosystem.
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