Unveiling the $58.59 Billion Potential of the Automotive Lighting Market by 2030 - Insights from Allied Market Research

OREGAON, PORTLAND, UNITED STATES , April 10, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global automotive LED lighting market garnered $16.0 billion in 2021, and is estimated to generate $32.2 billion by 2031, manifesting a CAGR of 7.4% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

🔰𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/646

The research provides detailed segmentation of the global automotive LED lighting market based on position, sales channel, vehicle type, propulsion type, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧, the rear segment held the highest share in 2021, accounting for nearly one-third of the global automotive LED lighting market, and is expected to continue its leadership status during the forecast period. However, the side segment is expected to register the highest CAGR of 8.6% from 2022 to 2031.

🔰𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/automotive-lighting-market/purchase-options

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐩𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐭𝐲𝐩𝐞, the ICE segment accounted for the highest share in 2021, contributing to more than four-fifths of the global automotive LED lighting market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the electric segment is expected to manifest the highest CAGR of 12.0% from 2022 to 2031.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐬𝐚𝐥𝐞𝐬 𝐜𝐡𝐚𝐧𝐧𝐞𝐥, the OEM segment accounted for the highest share in 2021, holding more than 90% of the global automotive LED lighting market, and is expected to continue its leadership status during the forecast period. However, the aftermarket segment is estimated to grow at the highest CAGR of 14.4% during the forecast period.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐫𝐞𝐠𝐢𝐨𝐧, Asia-Pacific held the largest share in 2021, contributing to nearly half of the global automotive LED lighting market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the LAMEA region is expected to manifest the fastest CAGR of 9.5% during the forecast period. The research also analyzes regions including North America and Europe.

🔰𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/646

Factors such as growing emphasis towards road safety, government regulations, and growing automobile production foster the growth of automotive lighting market. However, high cost of LEDs hinders the growth of market. Furthermore, the rise in demand for automotive in developing nations is the factor that is anticipated to provide a remarkable growth opportunity for the players operating in the automotive lighting market.

𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲-

Hyundai Mobis
Koninklijke Philips N.V.
ROBERT BOSCH GmbH
Valeo
ZKW
Hella KGaA Hueck & Co.
DENSO Corporation
Osram Licht AG
Koito Manufacturing Co. Ltd.
Stanley Electric Co. Ltd.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐋𝐢𝐧𝐤𝐬

https://www.alliedmarketresearch.com/led-fog-lamp-market-A13128 - Global Opportunity Analysis and Industry Forecast, 2021-2030

https://www.alliedmarketresearch.com/automotive-intelligent-lighting-system-market-A13970 - Global Opportunity Analysis and Industry Forecast, 2021-2030

https://www.alliedmarketresearch.com/aircraft-exterior-lighting-market - Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/aircraft-glareshield-lighting-market-A06197 - Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
+1 5038946022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn