The global automotive LED lighting market is growing rapidly owing to the advantages such as cost efficiency and work efficiency this lighting provides. Growing automobile industry, increasing sales of lightweight vehicles, increasing penetration of LED technology, and focus on developing energy-efficient lighting products are some of the key driving forces behind the growth of the market.

According to Market Research Future (MRFR), the global automotive LED lighting market is poised to touch a valuation of USD 20 BN by 2022, registering over 9% of a CAGR throughout the forecast period (2016 to 2022). The longevity of LED lights predominantly drives the market. Initially, the long life of LED lamps was attracting consumers; however, due to the low brightness and high cost, they were generally restricted to dashboards usages.

Over the past few years, there have been substantial technological developments in the vehicles, and the LED lighting is one of them. Introduction of innovative technologies that can enhance safety & performance alongside, declining component prices has increased the sales of automotive LED lighting products. Increased consumption of these lightings can be seen from two wheelers to four wheelers, and the adoption is growing day by day.

Manufacturers are also developing premium LED lights to accessorize vehicles. Innovations in LED technology, an increase in the popularity of ambient lighting, and the development of laser and OLED lights are the three key trends that are contributing to the augmented growth of global automotive LED lighting.

Conversely, factors such as the slow growth of vehicle sales in BRIC nations, high costs of LED, high research, and development costs are impeding the growth of the market. 

Automotive LED Lighting   Market – Regional Analysis

The Asia Pacific region would remain the largest market for automotive lighting systems, globally.  The automotive industry is growing briskly in rapidly developing countries such as India, China, and South Korea.  Factors such as the production of passenger and commercial vehicles that are increasing alongside the presence of many manufacturers are expected to influence the growth of the regional market.

Furthermore, increasing population, rapid urbanization, and the improving economic conditions that are increasing the purchasing power of consumers are some of the key factors driving the automotive LED lighting market in the region.

Automotive LED lighting markets in Europe and North America are anticipated to witness the largest demand. Increasing automotive production coupled with the adoption of energy efficient lighting source such as LED drives the growth of the automotive lighting industry in these regions.

The automotive LED lighting market in the European region is another lucrative market globally. The region is the global hub for automotive research and innovation. The resurging economy in the region plays a vital role in the growth of the market.

Growing passenger cars markets in the UK, Germany, France, and Italy will majorly support market growth in the region. Germany and the UK, backed by the enormous investments and advancements in related technologies, largely contribute to market growth in the region. 

The North America automotive lighting market is rapidly emerging as a promising market globally. Substantial investments, technological advances, and the early uptake of advanced technologies drive growth in the regional market.  Factors such as growing demand for sophisticated lighting features in automobiles led by the increasing production of vehicles, especially in passenger cars drive the growth in the regional market. Flourishing automotive industry in this region creates opportunities for the market to grow significantly during the forecast period.

The increase in production of vehicles increases the use of advanced lighting systems.  Advancements expected to happen in the field will result in the growth of the automotive lighting market in the region.

Global Automotive LED Lighting   Market – Competitive Analysis

Highly competitive, automotive LED lighting market is dependent on automobiles sales.  Driven by the increase in automotive production, currently, the market appears to be fragmented due to the presence of several players. To gain a competitive advantage, well-established players incorporate strategic initiatives such as acquisition, partnership, collaboration, expansion, and product & technology launch.

These players emphasis on new product development and geographical expansion. The market is anticipated to witness constant innovations which, as a result, would intensify the competition among the lighting manufacturers.

Major Players:

Players leading the automotive LED lighting market include Osram Licht AG (Germany), Koito Manufacturing Co. Ltd (Japan), Magneti Marelli SpA (Italy), Stanley Electric Co. Ltd (Japan), Koninklijke Philips NV (Netherlands), Mercedes-Benz (Germany), Hyundai Group (South Korea), Tata Motors Limited (India), Toyota Motor Corporation (Japan), and Zizala Lichtsysteme Gmbh (Austria) among others.

June 13, 2019 ---- Oracle Lighting (the US), a global leader in creating high quality LED solutions for the automotive/12Volt, Powersports, and motorcycles announce the launch of the new V-Series - LED bulb conversion kits. The V-Series are the only DOT compliant “Street Legal” LED headlight conversion in the market.

V-Series LED bulbs are work on cars, trucks, motorcycles, ATVs, and UTVs, among others. The technological, performance, and cosmetic benefits that the series provides currently are unmatched in the marketplace.