The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rise in worldwide traffic accidents is likely to spur innovation in automotive LED lighting manufacture, propelling the market throughout the forecast period.

The global automotive LED lighting market is expected to grow from $17.59 billion in 2022 to $18.85 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The global automotive LED lighting market size is expected to reach $24.29 billion in 2027 at a CAGR of 6.5%.

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Global Automotive LED Lighting Market Segments Include:

• By Propulsion Type: Internal Combustion Engine (ICE), Electric, Other Propulsion Types
• By Vehicle Type: Passenger Car, Light Commercial Vehicle (LCV), Bus, Other Vehicle Types
• By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
• By Application: Exterior Lighting, Interior Lighting
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global automotive LED lighting market in 2021.

Major Market Players in the automotive LED lighting market include Hyundai Mobis, Hella KGaA Hueck & Co., Koito Manufacturing Co Ltd., Marelli Holdings Co. Ltd., Osram Licht AG, Stanley Electric Co. Ltd., Valeo, ZKW Group, Magneti Marelli S.p.A.

Product innovation is a crucial trend that is gaining traction in the automotive LED lighting industries. To maintain their market position, major businesses in the automotive LED lighting market are releasing revolutionary products. For example, Hyundai Mobiles, a South Korean-based automotive supplier firm, launched ‘Lighting grille’ technology in October 2022, which takes use of LED lighting. This includes a moving grille with active flaps for improved aerodynamics or engine cooling. In comparison to other technical items, this offers unique characteristics such as auto-driving mode and the ability to display various scenarios such as autonomous driving mode, EV charging mode, welcome light, and emergency warning light.

The Automotive LED Lighting Global Market Report 2023  provides a automotive LED lighting market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive LED lighting market forecast analyzes automotive LED lighting market size, automotive LED lighting market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Automotive LED lighting refers to specialised LED lighting in motor cars that allows for crystal clear visibility while driving, energy efficiency at night, and a long-predicted lifetime illumination.

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