Rising number of road accidents across the globe has resulted in increased initiatives and investment by government entities. Road accidents take up to 4% of GDP in some countries and pedestrians, motorcyclists, and cyclists account for roughly half of those killed on the road.

FMI forecasts that the adaptive front lighting market is projected to register year-on-year growth at 12.2% in 2022. Increasing usage of adaptive control systems as a safety feature in vehicles is spurring demand in the market. Considering this, FMI has projected total sales to reach 3,555 Units in terms of volume by 2032.

The automotive idler arm is generally used in the conventional suspension system that holds the vehicle chassis to its wheels. It is also used with steering systems and suspension for various vehicles like light commercial vehicles and rear-wheel-drive vehicles. This helps in the growth of demand for automotive idler arms.

Automotive Fuel Delivery System Market By Vehicle Type (Passenger Cars, Commercial Vehicles), Fuel Type (Gasoline, Diesel, Other Fuel Types) & Region - Forecast 2022-2032

[239 Pages Report] The ASEAN automotive bearings market is currently valued at around US$ 925.5 Mn, and is anticipated to progress at a CAGR of 5.3% to reach US$ 1614.8 Mn by 2032. Automotive bearings are important component in a vehicle that reduce friction between two rotating parts and support radial and axial loads.

Global automotive diagnostic scan tools market demand is anticipated to be valued at US$ 34.7 Billion in 2022, forecast to grow at a CAGR of 7% to be valued at US$ 68.8 Billion from 2022 to 2032. Growth is attributed to increased demand for automotive diagnostic scan tools, especially across the automobile OEMs.

Global automotive suspension systems demand is anticipated to be valued at US$ 62 Billion in 2022, forecast to grow at a CAGR of 4.36% to be valued at US$ 95 Billion from 2022 to 2032. Increasing urbanization, technical improvements, and purchasing habits are all contributing to the expansion of the automobile sector. Significant efforts are being made to update the present automotive suspension systems in order to improve ride quality and road holding capabilities for the vehicle.

The global market for garage and service station is projected to be valued at US$ 2,031.98 Million as of 2022, representing an annual increment worth 10.2% from 2021. By 2032, the industry is projected to reach US$ 5,927.48 Million, representing a CAGR of 11.3%.

[254 Pages Report] Exhibiting growth at 6.7% CAGR, the global air suspension systems market is anticipated to post substantial gains during the forecast period. Driven by growing e-commerce sector, rising cargo transportation and surging production of commercial vehicle, the market will reach a valuation of US$ 4.6 Bn in 2021.

Automotive Battery Management System Market By Vehicle Type (Electric Vehicles, Passenger Cars, Commercial Vehicles, Golf Carts, E-Bikes), Connection Topology (Centralized, Distributed, Modular), Sales Channel (OEMs, Aftermarket) & Region - Forecast 2022-2029

Electric Vehicle Battery Market By Vehicle Technology (HEV, PHEV, BEV), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Battery Type (Lithium Ion, Lead Acid, Nickel Hydride) & Region - Forecast to 2017-2027

[283 Pages Report] Future Market Insights (FMI) has forecasted the automotive cylinder liner market to grow with a year over year growth of 3.4% in 2021 reaching a value of about US$ 4,573.1 Mn by 2021 end.

Growing environmental concerns, coupled with demand for reduced costs of commute, easy commutation, and emission control are primary factors encouraging the adoption of electronic vehicles across the world. These factors also will enable the electric scooters sales to total US$ 8.8 Bn in 2021.

[210 Pages Report]  The global automotive ignition coil market is estimated to reach a valuation of US$ 2.6 Bn in 2021. Higher production of passenger vehicles will continue driving sales in the market. As per Future Market Insights (FMI) analysis, the automotive ignition coil market size is expected to surpass US$ 3.8 Bn in the next five years. Between 2021 and 2031, the market has been forecast to register 4.4% CAGR.

According to ESOMAR-certified Future Market Insights (FMI), automotive lighting 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.

The automotive lighting market is expected to reach a valuation of US$34.7 Billion in 2021. According to Future Market Insights (FMI), the overall automotive lighting market is expected to grow at a CAGR of 6.3% for 2021- 2031.

The global sales of automotive lighting are anticipated to surpass 1.813 million units in 2021. FMI presents a positive growth outlook for the market. In terms of volume, the automotive lighting market is predicted to expand at 5.2% CAGR over the course of the assessment period.

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

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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.

An increasing number of automakers are incorporating latest technologies such as superior performing and lightweight automotive lighting in their vehicle models. This will guarantee impressive growth in the market through the assessment period.

For instance, Volkswagen partnered 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 units. FMI presents a positive growth outlook for the market. In terms of volume, the automotive lighting market is predicted to expand at 5.2% CAGR with sales reaching around 3.114 million units over the course of the assessment period.

Key Takeaways from FMI’s Automotive Lighting Market Study

• The U.S is expected to offer lucrative growth opportunities on the back of growing demand for lightweight passenger vehicles.
• Rapid economic growth, increasing traffic congestion, and high demand of two wheelers in Brazil will drive the automotive lighting market growth.
• Advancement in the electric vehicle section along with government initiatives towards reducing carbon emission 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.
• 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 growth.

“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 to join the bandwagon,” says the FMI analyst.

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Competitive Landscape

Automotive lighting 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

Automotive Lighting Market by Category

By Application:

• Front Headlights
• Fog Lights
• Rear Lights
• Side Lights
• Interior Lights

By Vehicle Type:

• Passenger Cars
  • Compact
  • Mid
  • Luxury
  • SUVs
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Electric Vehicles
  • Battery Electric
  • Plug-in Hybrid Electric
  • Hybrid Electric
• Two Wheelers
  • Motorcycles
  • Scooters

By Light Source:

• Halogen
• LED
• Xenon

By Sales Channel:

• OEM
• Aftersales

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa (MEA)

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Key Points Covered in Automotive Lighting Market Study

• Market estimates and forecast 2015-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Automotive Lighting Market and How to Navigate
• Recommendation on Key Winning Strategies

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About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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The automotive lighting market is expected to reach a valuation of US$34.7 Billion in 2021. According to Future Market Insights (FMI), the overall automotive lighting market is expected to grow at a CAGR of 6.3% for 2021- 2031.