Global Automotive Ambient Lighting Market is valued approximately at USD 2.73 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.9% over the forecast period 2020-2027. Ambient lighting applies to the soft lighting across the car, door handles and pulls, cupholders, center console, and even around the dash and in the footwells of the vehicle entirely. The factors boosting the growth of the automotive ambient lighting market are luxury and comfort, increasing production of automobiles, and rise in the disposable. In addition, energy-efficient lighting system solutions may also attract consumers and further drive the market.
Automotive interior lighting optimistically influences space perception, internal manifestation of vehicles, and mood lighting depending on a driver’s mood. For example, automotive interior lighting reduces the exhaustion of a driver when driving at night and illuminates the passenger compartment for reading. With the growth in surplus income, the demands have risen due to increase in per capita income, leading to a change in the consumers preferences. Modification and alterations in the interior of the cars will also support the growth of the market, with escalating vehicle connectivity, ambient lighting can act as an important functional feature in vehicles. For illustration, Hella has launched its Solid-State Lighting HD, giving the users access to freely programmable lighting options as well as added safety solutions. Similarly, As of October 2020, OSRAM manufactured LED based automotive retrofit lamps for the German automobile market featuring, night breaker LED H7 from Osram which is three times brighter than the minimum legal requirements and is comparable in color to daylight. The lamp creates strong contrasts, long range, require less maintenance and consumes less energy. It is a cost-effective retrofit alternative to LED Headlight systems. However, the market faces restraints due to the unavailability of a steady pace of raw materials needed, as Development of light sources which consume less power, provide high-intensity light, and have a longer service life involves amalgamation of different materials and gases. Thus, hampering the growth of the market.
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The regional analysis of global Automotive Ambient Lighting market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to availability of surplus income and change in the consumers lifestyle. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing number of automobile production to suffice the demand would create lucrative growth prospects for the Fitness Equipment market across Asia-Pacific region.
Major market player included in this report are:
KGaA Hueck & Co.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Electric and Hybrid:
Battery Electric Vehicle
Plug-in Hybrid Electric Vehicles
Hybrid Electric Vehicles
By Passenger Car:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
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Target Audience of the Global Automotive Ambient Lighting Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers