north america automotive lighting Market

Automotive lighting market in North America is expected to grow from US$ 5.53 Bn in 2018 to US$ 6.84 Bn by the year 2027. This represents a CAGR of 2.5% from the year 2019 to 2027.

The automotive lighting market is primarily driven by the stringent rules and regulations regarding the lighting in vehicles. However, the high cost of LED solutions might hinder the growth of automotive lighting market. The front and rear lights form the major share in the automotive lighting. Automakers have been increasingly looking for lightweight automotive components that enhance fuel-efficiency and performance of vehicles. The LED lighting used in automobiles is lightweight compared to the traditional filament-based headlamps. LED lamps are usually cooler and smaller, and consume lesser energy compared to standard automotive lamps. They also offer safety and comfort for the vehicle drivers and occupants. LED light sources used in the headlights allow drivers to have a proper and better road contour view and anticipation power, thereby providing good reaction time for making decisions. Therefore, growing adoption of exterior LED lighting solutions is creating opportunities for the companies to gain a strong customer base.

Use of laser light for headlight, Flexible OLEDs for vehicle lighting, and bend lighting headlamps with LED are few trends that are anticipated to nurture the growth of the automotive lighting market further. The LED technology has provided automotive manufacturers an opportunity to differentiate their vehicles through unique functionalities and innovative lighting design. LEDs are gaining popularity drastically as their cost lowers, package size, and luminance improves. Some of the initiatives undertaken within the automotive lighting industry include; a joint venture signed between OSRAM and Continental AG in 2018 to manage the automotive lighting business.

The automotive lighting market by technology is segmented into halogen, LED, xenon, and laser. LEDs are the recent innovation introduced in headlight technology. The diodes present in LEDs produce light when electric current stimulates their electrons. Although, LEDs require low amount of power to operate, they produce high temperature on the diode. Therefore, heat control systems are required at the bottom of a LED headlight to control high temperature. The LEDs have color temperature of around 6,000K, which makes it brighter and whiter even in daylight.

The overall North America automotive lighting market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America automotive lighting market. It also provides an overview and forecast for the North America automotive lighting market based on all the segmentation provided with respect to the North America region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America automotive lighting industry. Some of the players present in the automotive lighting market are Automotive Lighting LLC, Hella GmbH & Co. KGaA, Koito Manufacturing Co., Ltd., Lumileds Holding BV, Osram Continental GmbH, SL Corporation, Stanley Electric Co. Ltd., Tungsram, Valeo SA, and Varroc Group among others.