Global Next-Generation Automotive Lighting Market 2023-2029

Global Next-Generation Automotive Lighting Market 2023-2029

Next-generation automotive lighting refers to advanced lighting technologies that are being developed and implemented in modern vehicles. These technologies aim to improve visibility, safety, and energy efficiency while also providing a more aesthetically pleasing appearance. According to the latest estimates, the global next-generation automotive lighting market is set to achieve an incremental growth of USD 12.3 billion, accelerating at a CAGR of almost 11.14% during the forecast period 2023-2029. Governments around the world are implementing stricter safety regulations for vehicles, including lighting requirements. This is driving the demand for advanced lighting technologies that provide better visibility and reduce the risk of accidents. In addition, with the increasing focus on sustainability and reducing carbon emissions, energy-efficient lighting solutions are becoming more important. Next-generation automotive lighting technologies, such as LED and OLED lighting, are much more energy-efficient than traditional lighting solutions, reducing the energy consumption of vehicles.Governments around the world are implementing stricter safety regulations for vehicles, including lighting requirements. This is driving the demand for advanced lighting technologies that provide better visibility and reduce the risk of accidents. In addition, with the increasing focus on sustainability and reducing carbon emissions, energy-efficient lighting solutions are becoming more important. Next-generation automotive lighting technologies, such as LED and OLED lighting, are much more energy-efficient than traditional lighting solutions, reducing the energy consumption of vehicles.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global next-generation automotive lighting market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product, technology, application, end user, and region. The global market for next-generation automotive lighting can be segmented by product: flexible lighting, communicable lighting, ambient lighting, adaptive lighting. The ambient lighting segment captured the largest share of the market in 2022. Next-generation automotive lighting market is further segmented by technology: laser, LED, xenon, halogen. The LED segment held the largest share of the global next-generation automotive lighting market in 2022 and is anticipated to hold its share during the forecast period. Based on application, the next-generation automotive lighting market is segmented into: commercial vehicles, passenger cars. In 2022, the passenger cars segment made up the largest share of revenue generated by the next-generation automotive lighting market. On the basis of end user, the next-generation automotive lighting market also can be divided into: aftermarket, OEM. Among these, the OEM segment was accounted for the highest revenue generator in 2022. Next-generation automotive lighting market by region is categorized into: Asia-Pacific (ex. China), Europe, North America, China, RoW (Rest of World). North America captured the largest share of the market in 2022.

Market Segmentation

By product: flexible lighting, communicable lighting, ambient lighting, adaptive lighting

By technology: laser, LED, xenon, halogen

By application: commercial vehicles, passenger cars

By end user: aftermarket, OEM

By region: Asia-Pacific (ex. China), Europe, North America, China, RoW (Rest of World)

The report also provides a detailed analysis of several leading next-generation automotive lighting market vendors that include Magna International Inc., Valeo S.A., Faurecia SE, Marelli Holdings Co., Ltd., Varroc Group, OSRAM Licht AG, HELLA GmbH & Co. KGaA, KOITO Manufacturing Co., Ltd., Hyundai Mobis Co., Ltd., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Scope of the Report

• To analyze and forecast the market size of the global next-generation automotive lighting market.
• To classify and forecast the global next-generation automotive lighting market based on product, technology, application, end user, region.
• To identify drivers and challenges for the global next-generation automotive lighting market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global next-generation automotive lighting market.
• To identify and analyze the profile of leading players operating in the global next-generation automotive lighting market.

Why Choose This Report

• Gain a reliable outlook of the global next-generation automotive lighting market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.