Automotive Lighting Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The automobile manufacturers are working hard to improve both vehicle and passenger safety in night driving situations, as approximately 30% of all the vehicle accidents occur at night. Moreover, the severity of accidents is much higher in the night, than during the day. 

The automotive manufacturers are developing new lighting technologies and are focusing on the major lighting components, such as headlights. They are entering into partnerships, for being ahead in the competition within the market. Headlights are a major factor in providing a safe environment for driving, during the night. For instance, Volkswagen partnered with Hella, in order to develop IQ.LIGHT LED headlamps. The new luxury-class Touareg SUV uses the IQ.LIGHT-LED Matrix Headlamps and 256 LEDs.

Vehicle manufacturers are designing, prototyping, and testing the possibilities for external lighting. For example, Volkswagen is working on a technology that projects a pair of red warning lines on the road, when a car is turning around, thereby, letting pedestrians know where the danger zone is and presumably eliminating the problem of backing out of a high-fenced driveway, into the path of a cyclist on the footpath.

Geographically, the global automotive lighting market is led by the Asia-Pacific region, followed by the European and the North American regions. Some of the major factors driving the growth of the markets in these regions are - 

• An increase in the demand for and the sales of luxury cars.
• An increase in the production of vehicles.
• An increase in the sales of and demand for commercial vehicles, owing to the growing logistics industry (primarily due to the propelling e-commerce sector in the region) and the construction industry.
• A rise in the sales of low-cost vehicles, due to an increase in the disposable incomes of the middle-class consumers.
• An increase in the number of accidents, especially during the night.

Europe has been recognized as a major region, focusing on both passengers and pedestrian safety, along with implementing safety standards for vehicles. The regional automotive manufacturers, along with the automotive component suppliers, have been continually investing in the R&D of safety technologies. With rapid technological advancements in the automotive industry, the European region is expected to play a major role in the global automotive lighting market. The region is home to numerous major manufacturers, such as Hella KGaA Hueck & Co., Philips, OSRAM Licht AG, Valeo, Zizala, Robert Bosch, and ZKW.