Report Id: SNS/AUTO/1630 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Automotive Exterior Smart Lighting Market Size was valued at USD 28.56 billion in 2021, and is expected to reach USD 42.38 billion by 2028, and grow at a CAGR of 5.8% over the forecast period 2022-2028. A motor vehicle's lighting system comprises of lighting and signaling systems installed on the front, back, sides, and, in some cases, the top of the vehicle that illuminate the roadway for the driver. The technology also improves visibility, especially in low-light situations. It alerts other drivers and pedestrians to a vehicle's presence and travel direction. In the rear and front lighting functions of automobiles, the need for automotive exterior smart lighting systems has been steadily increasing. Modern vehicles rely heavily on automobile exterior smart lighting technology for sophisticated headlamps and tail lights, fog lights, DRLs (daytime running lights), turn indications, signal lamps, parking lights, CHMSLs (centre high mount stop lights), and number plate lights. Headlamps, on the other hand, will continue to be a substantial revenue contributor in the car exterior smart lighting industry for the foreseeable future.
Rule on lighting for better visibility and safety
Lowering the cost of LEDs
Improving public awareness about automobile safety
LED lights are expensive.
Demand for automobile exterior smart lighting systems is on the rise.
New technologies are developing.
In the commercial vehicle category, sophisticated lighting has a lower penetration rate.
Impact of Covid-19:
COVID On a worldwide scale, the 19 outbreak has impacted the automotive supply chain. The outbreak has impacted not only global production facilities, but also global automobile sales. The suspension of manufacturing facilities and new vehicle sales has had an influence on the manufacture of automotive lighting components, which has had an impact on the global market. In 2020, demand for both conventional and electric vehicles is expected to decline, further affecting the worldwide market. Furthermore, the budget for R&D is going to be drastically reduced, which is expected to stymie the development of novel automotive lighting solutions. Lighting consumption is generally related to vehicle output.
Hyundai Mobis (South Korea), Lumax Industries (India), Stanley Electric Co. Ltd (Japan), Valeo Group (France), Koito Manufacturing Co. Ltd (Japan),OsRam Licht AG (Germany), Magneti Marelli SpA (Italy), Lumax Industries (India), HELLA KGaA Hueck & Co. (Germany) and Mitsuba Corporation (Japan)
Based on vehicle type:
In the worldwide automotive exterior smart lighting market, there are two categories of vehicles: passenger cars and commercial vehicles. Because of expanding disposable income, rising four-wheeler sales, and growing preference for automotive vehicles, passenger cars accounted for a considerable portion of the global market. Rising fuel prices, on the other hand, are expected to moderately limit the industry.
The worldwide vehicle exterior smart lighting market has been split into halogen, xenon, LED, and others based on technology. Because of its widespread use, the halogen technology category commanded a considerable market share. The LED technology segment, on the other hand, is expected to increase dramatically in the next years.
Key Market Segments:
By Vehicle Type:
Light Commercial Vehicle (LCV)
Day Time Running Lights (DRL)
Centre High-Mount Stop Light (CHMSL)
North America, Europe, Asia-Pacific, and the Rest of the World are the regions in which the car exterior smart lighting market is divided. The greatest market for automobile exterior smart lighting is predicted to be Asia-Pacific. It is one of the world's biggest vehicle producers and markets. China, India, and Japan are the region's biggest economies, all of which are expected to grow rapidly.
The Middle East & Africa
|Market Size in 2021||US$ 28.56 Billion|
|Market Size by 2028||US$ 42.38 Billion|
|CAGR||CAGR of 5.8% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Bus, Truck)
• by Technology (Halogen, LED, Xenon)
• by Application (Exterior Lighting, Interior Lighting)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Hyundai Mobis (South Korea), Lumax Industries (India), Stanley Electric Co. Ltd (Japan), Valeo Group (France), Koito Manufacturing Co. Ltd (Japan),OsRam Licht AG (Germany), Magneti Marelli SpA (Italy), Lumax Industries (India), HELLA KGaA Hueck & Co. (Germany) and Mitsuba Corporation (Japan)|
|Key Drivers||•Rule on lighting for better visibility and safety
•Lowering the cost of LEDs
•Improving public awareness about automobile safety
|RESTRAINTS||•LED lights are expensive.|
Frequently Asked Questions (FAQ) :
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine-Russia War
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Automotive Exterior Smart Lighting Market, By Vehicle Type
8.1 Passenger Car
8.2 Light Commercial Vehicle (LCV)
9. Automotive Exterior Smart Lighting Market, By Technology
10. Automotive Exterior Smart Lighting Market, By Application
10.1 Exterior Lighting
10.1..2 Fog Lights
10.1.3 Day Time Running Lights (DRL)
10.1.6 Centre High-Mount Stop Light (CHMSL)
10.2 Interior Lighting
10.2.3 Reading Lights
10.2.4 Dome Lights
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profile
12.1 Hyundai Mobis (South Korea)
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Lumax Industries (India)
12.3 Stanley Electric Co. Ltd (Japan)
12.4 Valeo Group (France)
12.5 Koito Manufacturing Co. Ltd (Japan)
12.6 OsRam Licht AG (Germany)
12.7 Magneti Marelli SpA (Italy)
12.8 Lumax Industries (India)
12.9 HELLA KGaA Hueck & Co. (Germany)
12.10 Mitsuba Corporation (Japan)
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
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