The Worldwide Automotive Ambient Lighting Industry is Expected to Reach $4.9 Billion by 2025 – ResearchAndMarkets.com – Press Release

Julia M. Tyson

DUBLIN–(Business Wire)–The “Automotive Ambient Lighting Market by Electric & Hybrid (BEV, HEV, PHEV), Application (Footwell, Door, Dashboard, Center Console), Passenger Car (C, D, E, and F), Aftermarket (Country and Application (Interior and Exterior)) – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

The ambient lighting market for automotive, by value, is projected to grow at a CAGR of 9.9{11267971deaf0da66182ac40f7f045fd96ca421f04ac3850328ca3f52bba07e3} from 2020 to 2025. It is projected to reach USD 4.9 billion by 2025 from an estimated USD 3.0 billion in 2020.

The key factors driving the market growth include increasing penetration of ambient lighting in low to mid-segment vehicles, inclination toward luxury, and increasing vehicle production. The improving economic condition of developing regions such as Asia Oceania has boosted the market for premium vehicles, which are equipped with ambient lighting.

Centre Console ambient lighting to witness the fastest growth during the forecast period

The market for dashboard ambient lighting is projected to grow at the highest CAGR, in terms of value, during the forecast period. The increasing demand for ambient lighting and luxury vehicles are the key growth drivers for the center console ambient lighting market.

Asia Oceania to dominate the market growth

Asia Oceania is estimated to see the fastest growth of the ambient lighting market for automotive, in terms of value. This growth is primarily driven by increasing vehicle production and increasing penetration of luxury cars in the region.

Market Dynamics

Drivers

  • Increasing Sale of Ultra-Luxurious Vehicles
  • Efforts to Optimize Interior Lighting
  • Consumer Inclination Toward Comfort & Safety Features
  • Easy Availability of Aftermarket Solutions

Restraints

  • High Cost of OE Integration
  • Higher Cost of Led Lights Compared to Halogen Lights

Opportunities

  • Enhanced Functionalities in Lighting
  • Increasing Use of Mood Lighting
  • Collaborations Among Automotive OEMs and Lighting System Manufacturers

Challenges

  • Possibility of Driver Distraction
  • Presence of Unorganized Aftermarket
  • Volatility of Raw Material Prices
  • Increase in Competition from Local Companies Offering Counterfeit/Retrofit Solutions

Companies Mentioned

  • Autolite
  • Draxlmaier Group
  • Federal Mogul
  • GENERAL ELECTRIC
  • Grupo Antonin(Spain)
  • Hella
  • Koito Manufacturing Co Ltd
  • LSI
  • Lumax Industries Ltd
  • Marelli
  • Oshino Lamps Ltd
  • OSRAM Licht AG
  • Pacific Insights
  • Philips
  • Samvardhana Motherson Automotive Systems
  • Sigma International
  • Stanley Electric Co Ltd
  • Texas Instruments
  • Toshiba Lighting and Technology Corporation
  • Tungsram(Hungary)
  • Valeo
  • ZIZALA LICHTSYSTEME Gmbh

For more information about this report visit https://www.researchandmarkets.com/r/c580ib

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

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