The global automotive exterior LED lighting market valued at US$1.18 Billion in 2021 and in 2022 be valued at US$1.24 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 7.6 % value CAGR, likely to reach US$2.6 Billion by the end of the said forecast period. According to Fact.MR – a market research and competitive intelligence provider, from 2017 to 2021, automotive exterior LED lighting sales expanded at a CAGR of over 7.7 %, attributed to extensive uptake across the automotive electronics domain. Rapid technological advancements in the automotive sector is fueling the demand for the more efficient and low-power-consuming lighting system.
The offer in this portion accompanies many open doors including fabricating items, appropriation, retail, and showcasing administrations. Broad rounds of essential and far reaching optional exploration have been utilized by the examiners at Fact.MR to show up at different assessments and projections for Demand of Automotive Exterior LED Lighting Market both at worldwide and provincial levels.
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Market Players: –
- Osram Licht AG
- Koninklijke Philips N.V
- Hella KGaA Hueck & Co
- Magneti Marelli S.p.A.
- Stanley Electric Co. Ltd
- Texas Instruments Incorporated
- Zizala Lichtsysteme GmbH
- Lumax Industries Ltd
- Changzhou Xingyu Automotive Lighting Systems Co., Ltd.
- Imasen Electric Industrial Co., Ltd.
Competitive Landscape
Some of the profiled players include Osram Licht AG, Koninklijke Philips N.V , Hella KGaA Hueck & Co, Magneti Marelli S.p.A., Stanley Electric Co. Ltd, Texas Instruments Incorporated, Zizala Lichtsysteme GmbH, Lumax Industries Ltd, Changzhou Xingyu Automotive Lighting Systems Co., Ltd., Imasen Electric Industrial Co., Ltd.
With an objective to provide light-based assistance to drivers, Osram has proposed a conceptual futuristic automotive exterior LED lighting system – Oslon Boost HX. This revolutionary lighting system is supposed to perform the function similar to that of a projector, and would help drivers negotiate the road works, on-road hazards, or icy patches with more safety.
The single LED used in this system is claimed to deliver more than 1,400lm, which would help the company become the first innovator to efficiently break in to the growing trend of special user experience.
On the other hand, Osram Opto Semiconductors has introduced Infrared (IR) LEDs, i.e. IREDs to their automotive exterior LED lighting portfolio. Typical exterior applications are likely to include pedestrian detection, even night vision, and lane departure detection.
- In November 2020 – Marelli, Japan, will open a production facility for electric drivetrains in Cologne, Germany. Start of production is targeted for the first half of 2021.
- In July 2021 – Marelli Automotive Lighting, and Samvardhana Motherson Automotive Systems Group (SMRP BV), have signed a MOU to explore new technological partnership focused on Smart illuminated exterior body parts. This intends to focus on components such as front grills and bumpers, along with other car parts that can be illuminated. These components are expected to become a growing trend in the future of mobility, with increased adoption of Advanced Driver-Assistance Systems (ADAS) and Autonomous Driving (AD) in the coming years.
- In April 2022 – The brand new Range Rover illuminates the road with an innovative lighting system from ZKW. The “Digital Light Processing” LED headlights not only generate stepless, glare-free high beam that automatically hides oncoming or other road users. The smart, digital front lighting also makes it possible to project animated images onto the road.
Key Segments Covered in Automotive Exterior LED Lighting Market Study
- By Sales Channel :
- OEM
- Aftermarket
- By Volts :
- 12V
- 14V
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
How Fact.MR Assists in Making Strategic Moves?
The data provided in the Automotive Exterior LED Lighting Market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.