The global automobile lighting market accounted for USD 20.93 billion in valuation in 2020 and is reckoned to garner substantial gains during 2021-2026.

Industry Snapshot:

• The mounting production of automobiles and consumer electronics has augmented the demand for automobile lighting across the globe.
• The increasing incorporation of automotive lighting solutions is contributing towards market remuneration as well.
• The rising automation in manufacturing sectors is favoring the overall business scenario.

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Segmental Overview:

Position Type	Front
	Back
	Others
Technology Type	Halogen
	LED
Vehicle Type	Commercial Vehicle
	Passenger Vehicle
Regional Landscape	North America
	Latin America
	Asia Pacific
	Europe
	Middle East and Africa

 

Predictions Corner:

• The front position segment of global automobile lighting industry is expected to grow substantially over the forecast period, owing to the higher concentration of OEMs and ODMs across various regions.
• The LED technology segment is expected to account for the largest market share over the review period primarily attributed to the increasing demand for new electronic technologies.
• Asia Pacific is estimated to hold the largest market share by 2026, on account of the rising population, high disposable income, increasing manufacturing activities, and surging demand from automobile manufacturers to improve quality by eliminating errors.

Explainer – All you need to know

The increasing per capita income in densely populated countries such as China, Japan, and India, the rising adoption of LED technology, the growing use of electronic devices, and the increasing penetration of automobile lighting in the LED and halogen business verticals will further propel the overall market growth in the coming years.

The leading companies operating in the global automobile lighting market include Koito Manufacturing Co. Ltd., Stanley Electric Co. Ltd., Varroc Group, Uno Minda Group, Fiem Industries Ltd., Valeo S.A., Hella KGaA Hueck & Co., Osram Licht AG, Lumax Industries Ltd., and India Japan Lighting Private Limited.

Concluding lines:

Market researchers assemble a thorough analysis of an industry that could provide investors and stakeholders with a wider perspective when making investment decisions. MarketStudyReport has a report titled ‘Global Automobile Lighting Market (2021 Edition) - Analysis by Position (Front, Back, Others), Technology (LED, Halogen), Vehicle Type (PV, CV), By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’ which emphasizes on the key development trends, upcoming growth opportunities, and obstacles existing in this business vertical.