The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Automotive Interior LED Lighting market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Automotive Interior LED Lighting
The report offers actionable and valuable market insights of Automotive Interior LED Lighting. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automotive Interior LED Lighting Market across various industries and regions.
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Key Segments Covered in the Automotive Interior LED Lighting Market
- By Product
- Dashboard Lights
- Ambient Lighting
- Dome and Map Lighting
- Center Stack
- Head-up Display
- Reading Lights
- By Vehicle Type
- Compact Passenger Cars
- Mid-sized Passenger Cars
- Premium Passenger Cars
- Luxury Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- By Volts
- By Sales Channel
- After Market
According to Fact.MR, the automotive interior LED lighting market is expected to be worth over US$ 670 million in 2022 – recording a sluggish CAGR of 2.9%.
- The high price of automotive interior LED lighting made compact carmakers shy away from this technology for some time. However, the consumer demand has compelled them to incorporate it in their products and this segment now contributes nearly a third of the revenue share in the automotive interior LED lighting market. Compact cars are extremely popular in Europe and APEJ and both these regions are anticipated to cross US$ 50 million by the end of the forecast period
- The mid-sized segment represents a quarter of the revenue share by vehicle type in the automotive interior LED lighting market. This segment is likely to be worth almost US$ 165 million by end 2022, making it imperative for key stakeholders to target it. On the other hand, the premium passenger car segment has a marginal contribution to the automotive interior LED lighting market and it is likely to decline over the study period
- Commercial vehicles are usually not the first that come to mind when one thinks of the automotive interior LED lighting market. Nonetheless, the light and heavy commercial vehicle segment combined have a revenue share slightly over a quarter of the automotive interior LED lighting market. Therefore, major players in the automotive interior LED lighting market can ignore this vital segment at their own peril
- The 12V segment dominates the automotive interior LED lighting market with a revenue share nearing 2/3rd in term of volts. A market opportunity just under US$ 440 million in 2022 should be large enough for all the companies to compete in. The 14V segment occupies the balance 1/3rd revenue share. Companies would do well to focus on Europe and APEJ in the 14V segment of the automotive interior LED lighting market
- The dashboard light segment is the most important in the automotive interior LED lighting market by product type and should remain so for the foreseeable future. The dashboard is usually the first touch point for vehicle occupants and it makes sense for manufacturers to embellish it with attractive LED interior lighting. Both APEJ and Europe are on track to push past US$ 50 million in end 2022 and companies in the automotive interior LED lighting market are advised to take this into consideration
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Competitive Landscape: Global Automotive Interior LED Lighting Market
- Hella KGaA Hueck & Co.
- Osram Licht AG
- Magneti Marelli S.p.A.
- Koito Manufacturing Co. Ltd.
- Stanley Electric
- Koninklijke Philips N.V
- Valeo SA
and Texas Instrumentsare a few key players in the competitive space of the global automotive interior LED lighting market.
The report on the automotive interior LED lighting market has profiled companies involved in the automotive interior LED lighting market. Some of the mentioned ones are Texas Instruments, Changzhou Xingyu Automotive Lighting Systems Co., Ichikoh Industries Ltd, Valeo SA, Koninklijke Philips N.V, Stanley Electric, Koito Manufacturing Co., Magneti Marelli Spa, OSRAM Licht AG, and HELLA KGaA Hueck & Co.
Fact.MR, in its report on global automotive interior LED market, has presented a thorough analysis of the market for a for a five-year period 2017-2022 along with a set of critical insights and recommendations to help the readers make informed decisions in the ever-evolving automotive landscape.
The report, spread across 14 chapters, is a result of extensive primary and secondary research on the global automotive interior LED lighting market over the aforementioned timeline, which assays actionable insights on future market direction, competitive landscape, and segment-wise analysis.