Automotive Interior Ambient Lighting Market Is Projected To Grow Rapidly Owing To Rising Customer Inclination Toward Safety & Comfort Features Till 2025 | Million Insights

October 03 11:18 2019
Automotive Interior Ambient Lighting Market Is Projected To Grow Rapidly Owing To Rising Customer Inclination Toward Safety & Comfort Features Till 2025 | Million Insights

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According to new report available with Million Insights, the global automotive interior ambient lighting industry is predicted to grow at a CAGR of 7.2% in the forecast period, providing numerous opportunities for market players to invest in research and development of the market.

Global Automotive Interior Ambient Lighting Market size is expected to reach USD 4.59 billion by 2025. Automotive interior ambient lighting is extensively used for drivers’ safety as it ensures effective visibility of dashboard and is used by the automotive manufacturers as a tool of product differentiation. The adoption of interior ambient lighting in automobiles is anticipated to increase due to growing awareness regarding energy-efficient lighting systems and increasing sales of luxury vehicles equipped with infotainment and navigation systems. The market size is expected to record a CAGR of 7.2% in the upcoming period.

Automotive interior ambient lighting is one of the most important parts of vehicles that is gaining popularity among the vehicle manufacturers. Moreover, new product developments and constant innovations in the lighting systems are the major factors driving the growth of market in the next couple of years.

Full Research Report On Global Automotive Interior Ambient Lighting Market Analysis available at: https://www.millioninsights.com/industry-reports/automotive-interior-ambient-lighting-market

Applications such as foot well, dashboard, doors, center console, and others could be explored in automotive interior ambient lighting industry. The “dashboard” segment is anticipated to witness the highest market share during the forecast period due to increasing sales of ultra-luxurious vehicles and increasing installation of ambient lighting. The market size based on vehicle type is classified into green cars and conventional cars. The “conventional cars” segment is expected to hold the largest market share in the upcoming period. Conventional cars include passenger cars or road vehicles such as luxury cars, vans, sedans and SUVs, which are manufactured for transporting passengers and designed to seat more than five individuals.

The factors that play an important role in the growth of automotive interior ambient lighting market include increasing demand, growing population, increasing urbanization & industrialization, improving advancements in the automotive industry, growing demand for luxury vehicles, rising installation rate of ambient lighting, increasing demand for LEDs in cars, growing automotive industry, technological advancements, and stringent government rules & regulations. Moreover, increasing awareness about energy-efficient lighting systems, growing customer inclination toward safety & comfort features and technological advancements in automotive interior lighting technology are further driving the demand for ambient lighting in the automotive industry.

However, high costs of OE integration and fluctuating prices of raw materials are negatively impacting the growth of automotive interior ambient lighting industry. The probable stakeholders for market include ambient lighting manufacturers, original equipment manufacturers (OEM), and lighting source providers.

The market is widely analyzed based on different regional factors such as gross domestic product (GDP), demographics, acceptance, inflation rate, and others. The market is categorized based on type, application, technology, fuel vehicle and geography. The market is classified into fuel vehicle such as battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicle (HEVs). PHEVs combine diesel or gasoline engine with an electric motor and a large rechargeable battery. They use electricity for cover longer distances and operation. Battery electric vehicles (BEVs) use chemical energy harnessed from rechargeable battery packs and have no internal energy combustion engines. They are easy to maintain and are eco-friendly.

North America held the highest market share in 2016 and is expected to hold the largest market share in the years to come due to increasing luxury vehicle sales and incorporation of ambient lighting in all premium and mid-segment vehicles. On the other hand, Asia Pacific is projected to grow at a high CAGR in the coming years owing to the increasing presence of large number of vehicle manufactures and growing demand for luxury vehicles.

The key players contributing to the robust development of the automotive interior ambient lighting market include OSRAM GmbH, SCHOTT AG, HellaKGaAHueck & Co., DRÄXLMAIER Group, Koita Manufacturing Co. Ltd., GE Lighting, General Electric, Federal-Mogul Corporation, Ford Motor Company, MagnetiMarelli S.p.A, Zizala, Robert Bosch GmbH, Stanley Electric Co. Ltd., Hyundai Motor Company, Mahindra & Mahindra Ltd, Ichikoh Industries, Valeo S.A., Toyota Motor Corporation and GrupoAntol in. These market players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

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Market Segment:

Automotive Interior Ambient Lighting Application Outlook (Revenue, USD Million, 2014 – 2025)
    • Dashboard
    • Footwell
    • Doors
    • Others

Automotive Interior Ambient Lighting Vehicle Type Outlook (Revenue, USD Million, 2014 – 2025)
    • Conventional cars
    • Green cars

Automotive Interior Ambient Lighting Regional Outlook (Revenue, USD Million, 2014 – 2025)
    • North America
        • U.S.
        • Mexico
        • Canada
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • India
        • China
        • Japan
    • South America
        • Brazil

Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/automotive-and-transport

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