Report Code: TIPRE00008018 | No. of Pages: 150 | Category: Automotive and Transportation | Status: Prebook
Ambient lighting elements are placed in different locations within the cabin to give a more immersive experience, as well as provide comfort and safety. Further, multicolor ambient lamps enable the car owner to select lamplight color and brightness as per preference. Dome lights, mirror lights, map and reading lamps, and storage lights are among the interior illumination systems that are gaining notable traction in the automotive interior lighting system market, subsequently compelling market players to research and develop advanced products based on the geometry of the illuminated area, illuminance levels, uniformity, and color for custom mood lighting. Moreover, demands of accent lighting to create a desired ambience and to locate various controls, such as power window controls and radio knobs in a darkened cabin is also bolstering the demand for automotive interior lighting systems.
Automotive interior lighting is anticipated to rise as a key factor for the upcoming cars. The availability of different functional lamps for reading and bright illumination of car interiors and exteriors, along with displays and ambient lighting of the floor, cabin space, interior components, and other smart decor lighting systems is boosting the growth of the automotive interior lighting system market. Interior lighting market players are providing a wide array of features for a variety of car segments, which is anticipated to further propel the growth of the automotive interior lighting segment.
According to the BMW, the light elements in the car interiors are anticipated to observe a significant growth in the near future on the account of factors such as high perception, acceptance, and customer demand. The COVID-19 pandemic accelerated the trends of cabin sanitising by UV light. Growing complexity and multifunctionality of automotive interior lighting have propelled the demand for new light elements, initiating the growth of affordable and package-minimised LED technology in the automotive interior lighting system market.
The "Global Automotive Interior Lighting System Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of automotive interior lighting system market with detailed market segmentation by product, vehicle. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the automotive interior lighting system market.
|Market Size Value in||US$ 4.86 Billion in 2021|
|Market Size Value by||US$ 8.56 Billion by 2028|
|Growth rate||CAGR of 8.8% from 2022 to 2028|
|No. of Pages||150|
|Historical data available||Yes|
|Segments covered||Product, Vehicle, and Geography|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The global automotive interior lighting system market is segmented into product, and vehicle. Based on product, the market is segmented into roof console, reading lights, car body lighting, and ambient lighting. By vehicle, the market is categorized into economy, mid-priced, and luxury vehicles.
The report provides a detailed overview of the market including both qualitative and quantitative information. It provides overview and forecast of the global automotive interior lighting system market based on various segments. It also provides market size and forecast estimates from 2022 to 2028 with respect to five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. The automotive interior lighting system market by each region is later sub-segmented by respective countries. The report covers analysis and forecast of 18 countries globally along with current trends and opportunities.
From the regional perspective, Asia Pacific is anticipated to hold a prominent share in the global automotive interior lighting system market during the forecast period. The dominance of Asia Pacific region in the automotive interior lighting system market is majorly due to the presence of large number of vehicle manufacturers as well as OEM vendors. Some of the key manufacturers in the region include Shenzhen Aurora Technology Limited; Changzhou Xingyu Car Light Co., Ltd.; and Varroc Engineering Limited. These players witness constant demand from vehicle manufacturers such as Hyundai Motors, Mahindra and Mahindra, and Audi. The below figure showcases the revenue growth trend in the global automotive interior lighting system market:
Get more information on this report :Source: The Insight Partners Analysis
The report analyzes factors affecting automotive interior lighting system market from both demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, impacting the market during the forecast period. The report also provides exhaustive Porter's five forces analysis highlighting the factors affecting the automotive interior lighting system market.
The COVID-19 outbreak resulted in a significant decline in the demand for vehicles globally, which reflected in lower volumes of orders among the vehicle manufacturers. The decline in production volumes adversely affected the businesses of various vehicle component manufacturers including the automotive interior lighting system market players. Thus, the procurement of vehicle components declined during the initial phase of the COVID-19 pandemic, thereby negatively impacting the growth of the global automotive interior lighting system market. However, when the economic conditions began to revive from 2021, the vehicle demand spurred and is foreseen to continue over the years. This would propel the procurement of automotive interior lighting systems, thereby likely to bolster its market during the forecast period.
Government initiatives and funding to boost the automotive sector is anticipated to propel the automotive interior lighting systems market growth in developing economies such as India. In September 2021, the Government of India initiated a US$ 3,210 million production-linked incentive (PLI) scheme to accelerate domestic manufacturing of electric and fuel cell vehicles in India. Such data suggest that the growth in the automotive sector is anticipated to play a crucial role in increasing the growth of the automotive interior lighting systems market.
The reports cover key organic and inorganic growth strategies in the automotive interior lighting system market. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from automotive interior lighting system market are anticipated to witness lucrative growth opportunities in the future with the rising demand for automotive interior lighting systems.
The report also includes the profiles of key automotive interior lighting system market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years. Below mentioned is the list of few companies engaged in the automotive interior lighting system market.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
The List of Companies
1. The 3M Company
2. CML Innovative Technologies
4. EFI LIGHTING
6. FLEX-N-GATE CORPORATION
7. HELLA GmbH and Co. KGaA
8. OSRAM GmbH
9. Robert Bosch GmbH
10. VALEO SERVICE