# Automotive Lighting Market is Expected to Grow at a CAGR of 6.3% During the Forecast Period 2021-2031
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-10-12
Category: Research Reports
Category URL: https://financedigest.com/category/research-reports
Meta Title: Growing Demand for Automotive Lighting Sales: Market
Meta Description: Discover the latest trends in automotive lighting sales and market growth, with insights from Future Market Insights. Get sample copy of the report today!
URL: https://financedigest.com/automotive-lighting-market-is-expected-to-grow-at-a-cagr-of-6-3-during-the-forecast-period-2021-2031html

According to ESOMAR-certified Future Market Insights (FMI), [automotive lighting](https://www.futuremarketinsights.com/reports/automotive-lighting-market) sales have been increasing significantly in response to the growing demand for better safety systems across the globe. As per the study, the global automotive lighting market is anticipated to grow at around 6.3% CAGR through the forecast period from 2021 to 2031.

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Rising demand for automation in vehicles for improved safety and high performance is encouraging original equipment manufacturers (OEMs) to design lightweight automotive lighting with superior efficiency

This also has resulted in the incorporation of light-emitting diode (LED) lighting to offer greater durability and low power consumption in automotive lighting. Thanks to shifting consumer preference and surging competition, these developments are no longer limited to the luxury vehicle segment.

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An increasing number of automakers are incorporating latest [technologies such as superior performing and lightweight automotive lighting](https://www.financedigest.com/green-light-for-setsquareds-automotive-technology-innovators.html "Green light for SETsquared’s automotive technology innovators") in their vehicle models. This will guarantee [impressive growth in the market](https://www.financedigest.com/two-wheeler-suspension-system-market-is-expected-to-experience-an-impressive-cagr-growth-4-4-through-2021-2030.html "Two Wheeler Suspension System Market is expected to experience an impressive CAGR growth 4.4 % through 2021-2030") through the assessment period.

For instance, [Volkswagen partnered](https://www.financedigest.com/volkswagen-to-partner-on-indonesia-ev-battery-ecosystem-minister.html "Volkswagen to partner on Indonesia EV battery ecosystem -minister") with Hella, a leading German-based auto part manufacturer, to develop IQ.LIGHT LED headlamps. This novel component was included in Volkswagen’s new luxury class Touareg SUV.

According to the report, the global sales of automotive lighting are [anticipated to increase in 2021 with volume sold reaching over 1.813 million](https://www.financedigest.com/ibuprofen-api-market-to-reach-us-772-2-million-by-2029-and-is-anticipated-to-increase-at-3-cagr-future-market-insights-inc.html "Ibuprofen API Market to Reach US$ 772.2 Million by 2029, and is anticipated to increase at 3% CAGR: Future Market Insights, Inc") units. [FMI presents a positive growth outlook for the market](https://www.financedigest.com/non-dairy-creamer-market-is-expected-to-observe-a-cagr-of-6-4-over-2021-2031-fmi.html "Non Dairy Creamer Market is expected to observe a CAGR of 6.4% over 2021-2031 | FMI"). In terms of volume, the automotive lighting [market is predicted to expand at 5.2% CAGR](https://www.financedigest.com/premium-chocolate-market-is-expected-to-have-a-cagr-of-8-8-through-2032-future-market-insights-inc.html "Premium Chocolate Market is Expected to have a CAGR of 8.8% through 2032 | Future Market Insights Inc. ") with sales reaching around 3.114 million units over the course of the assessment period.

**[Key Takeaways from FMI’s Automotive Lighting Market](https://www.financedigest.com/automotive-wiring-harness-market-is-expected-to-grow-at-considerable-cagr-of-7-9-through-2032-fmi-reveals-key-details.html "Automotive Wiring Harness Market is expected to Grow at considerable CAGR of 7.9% through 2032: FMI reveals key details") Study**

- The U.S is expected to offer lucrative growth opportunities on the [back of growing demand for lightweight passenger vehicles](https://www.financedigest.com/investors-go-back-to-basics-with-simpler-self-driving-vehicles.html "Investors go back to basics with simpler self-driving vehicles").
- Rapid economic growth, increasing traffic congestion, and high demand of two wheelers in Brazil will [drive the automotive](https://www.financedigest.com/tomtom-raises-2023-revenue-outlook-as-automotive-drives-q4-beat.html "TomTom raises 2023 revenue outlook as automotive drives Q4 beat") lighting market growth.
- Advancement in the electric vehicle section along with government initiatives towards reducing [carbon emission](https://www.financedigest.com/playground-xyz-study-finds-carbon-emissions-from-digital-ads-fall-by-63-on-average-when-measured-and-optimized-for-attention-time.html "Playground xyz study finds carbon emissions from digital ads fall by 63% on average when measured and optimized for attention time") will boost the automotive lighting market in China.
- Rapid development and modernization of automotive industry and booming passenger vehicles segment in India will create growth opportunities.
- Utilization of front headlights as a part of safety system as well in aesthetic design of the premium vehicles will drive the market growth in upcoming years.
- Shales in passenger vehicles segment will surge at a high pace over the [forecast period](https://www.financedigest.com/freeze-dried-food-market-forecasted-to-grow-at-us-54-8-bn-accelerating-at-a-cagr-of-6-8-during-the-forecast-period-2022-to-2032-future-market-insights-inc.html "Freeze-Dried Food Market forecasted to grow at US$ 54.8 Bn, accelerating at a CAGR of 6.8% during the forecast period 2022 to 2032 | Future Market Insights Inc.").
- Introduction of LED matrix headlamps and LED daytime running lights in two wheelers and electric vehicles for safety purposes will further push automotive [lighting market](https://www.financedigest.com/prague-christmas-market-returns-after-covid-but-with-fewer-lights.html "Prague Christmas market returns after COVID but with fewer lights") growth.

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**“In order to gain competitive edge, leading automakers are partnering with automotive part manufacturers to foster innovations. Besides some of the leading car manufacturers, small and mid-sized [companies are also expected](https://www.financedigest.com/around-40-of-german-companies-expect-output-decline-in-2023-iw-institute.html "Around 40% of German companies expect output decline in 2023 – IW institute") to join the bandwagon,” says the FMI analyst.**

**Competitive Landscape**

Automotive [lighting market](https://www.financedigest.com/flexible-lighting-foils-market.html "Flexible Lighting Foils Market") is highly competitive market owing to presence of numerous players. Market players are focusing on employing organic market strategies to consolidate their market position.

They are also looking towards developing innovative products and improve value chain. Manufacturers are also participating in strategic collaboration with distributors to cater to the increasing demand.

**Prominent players operating in the automotive lighting market are:-**

- Koito Manufacturing Co. Ltd.
- Hella KGaA Hueck & Co.
- Stanley Electric Co.
- Valeo SA
- Osram Licht AG
- Magnetti Marelli
- Varroc Group

**More** [Insights on Global Automotive Lighting Market](https://www.financedigest.com/mobile-application-stores-market-is-likely-to-grow-at-a-cagr-of-20-during-2022-to-2032-future-market-insights-inc.html "Mobile Application Stores Market is likely to grow at a CAGR of 20% during 2022 to 2032 | Future Market Insights Inc.   ")

In its latest report, FMI offers an unbiased analysis of the global automotive lighting market, providing historical data for the period of 2016-2020 and [forecast](https://www.financedigest.com/micro-irrigation-systems-market-to-achieve-a-high-cagr-of-13-during-forecast-period-2031.html "Micro Irrigation Systems Market  to Achieve A High CAGR Of 13% During Forecast Period 2031") statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of application (front headlights, fog lights, rear lights, side lights, and interior lights), vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles, electric vehicles, and two wheelers), light source (LED, halogen, and xenon), sales channel (OEM and aftersales), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa)

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**Scope of Report**

**Attribute****Details**[Forecast Period](https://www.financedigest.com/spandex-market-is-estimated-to-expand-at-a-cagr-of-more-than-8-over-the-forecast-period-of-2021-2031.html "Spandex Market is estimated to expand at a CAGR of more than 8% over the forecast period of 2021-2031")2021-2031Historical Data Available for2019-2029Market AnalysisUSD Million for ValueKey Regions CoveredNorth America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & AfricaKey Countries CoveredUS, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South AfricaKey Segments CoveredBy Vehicle type, By Application, By Light Source Type, By Sales Channel and RegionKey Companies Profiled

- Koito Manufacturing Co. Ltd.
- Hella KGaA Hueck & Co.
- Stanley Electric Co.
- Valeo SA
- Osram Licht AG
- Magnetti Marelli
- Varroc Group

Report CoverageMarket Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth InitiativesCustomization & PricingAvailable upon Request

**Key Questions Answered in the Report**

**What is the** [expected valuation of automotive lighting market?](https://www.financedigest.com/dehydrated-onions-market-expected-to-expand-more-than-three-fold-through-2031.html "Dehydrated Onions Market Expected to Expand More than Three-Fold through 2031")
The global automotive lighting market is forecast [reach the market valuation of around](https://www.financedigest.com/mechanical-performance-tuning-components-market-is-projected-to-exhibit-a-moderate-cagr-of-around-4-over-the-period-of-2019-2029-to-reach-a-valuation-of-us-260-bn-by-the-end-of-2029.html "Mechanical Performance Tuning Components Market is projected to exhibit a moderate CAGR of around 4% over the period of 2019-2029, to reach a valuation of US$ 260 Bn by the end of 2029") US$ 34.7 Bn in 2021. It is expected to increase exponentially during the [forecast period](https://www.financedigest.com/motorcycle-lead-acid-battery-market-is-projected-expand-at-a-cagr-of-5-6-during-the-forecast-period-of-2019-2027.html "Motorcycle Lead Acid Battery Market is projected expand at a CAGR of 5.6% during the forecast period of 2019-2027").
**What is automotive [lighting market demand outlook](https://www.financedigest.com/lighting-maker-signify-cuts-2022-outlook-again-on-china-business-lighting.html "Lighting maker Signify cuts 2022 outlook again on China, business lighting") in terms of volume?**
Sales of automotive lighting are expected to reach 3.114 million units by the end of 2031.
**What was the last 5** [year automotive lighting market CAGR?](https://www.financedigest.com/battery-swapping-charging-infrastructure-market-to-be-worth-us-1359-43-million-by-year-2033-at-a-cagr-of-21-2.html "Battery Swapping Charging Infrastructure Market to be worth US$ 1359.43 Million by year 2033 at a CAGR of 21%")

Automotive lighting [market recorded a CAGR of around](https://www.financedigest.com/plant-based-protein-market-is-expected-to-grow-at-a-cagr-of-around-7-2-during-2022-to-2032-future-market-insights-inc.html "Plant-Based Protein Market is expected to grow at a CAGR of around 7.2% during 2022 to 2032 | Future Market Insights Inc.") 0.7% in terms of value between 2016 and 2020.

The post [Automotive Lighting Market is Expected to Grow at a CAGR of 6.3% During the Forecast Period 2021-2031](https://industrynewsanalysis.com/automotive-lighting-market-is-expected-to-grow-at-a-cagr-of-6-3-during-the-forecast-period-2021-2031/) appeared first on [Industry News Analsis](https://industrynewsanalysis.com).


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