Market Leader - Automotive Ambient Lighting Market
The ambient lighting market for automotive is estimated to grow at a CAGR of 10.6% from 2022 to 2027. It is projected to reach USD 6.2 million by 2027 from an estimated USD 3.8 million in 2022. The base year for the report is 2021, and the forecast period is from 2023 to 2027. The growth of the ambient lighting market for automotive is driven by the increasing vehicle production, increasing installation rate of ambient lighting, and consumer inclination toward comfort, luxury, and style.
The global ambient lighting market is dominated by major players such as HELLA (Germany), ), Valeo S.A. (France), as OSRAM (Austria), Grupo Antolin (Spain), Koito Manufacturing Co. Ltd. (Japan), Signify (Philips Lighting) (Netherlands) and Stanley Electric Co. Ltd. (Japan). These players have adopted various growth strategies such as expansion, collaborations & partnerships, new product launch and acquisitions to increase their presence in the global market
To know about the assumptions considered for the study download the pdf brochure
Hella is a leading global player in the automotive ambient lighting market. It follows strong partnership and agreement strategies, which have helped the company to expand its business operations in diverse markets. For instance, Hella and French automotive supplier Faurecia formed a strategic agreement to significantly enhance their market position and geographic presence by merging their respective strengths, notably in important growth areas such as electric mobility, automated driving, and vehicle interior design. Hella has also adopted the strategies of acquisitions, partnerships, collaborations, and new product developments to grow its business.
Valeo S.A. is another leading player in this market. It focuses on vehicle electrification, autonomous vehicle technology, connected vehicles, enhancement of fuel economy, and vehicle emissions. The company focuses on the development of innovative products for automotive applications. It has a wide variety of products for applications in vehicles. Valeo spends around USD 1.78 billion on R&D activities annually to develop new products. In addition to this, the company has dedicated 16 development centers and five research centers for its Visibility Systems segment.
Grupo Antolin is also a significant player in the automotive ambient lighting market. The company, with a strong portfolio of automotive ambient lighting applications, supplies automotive components for over 580 models in the global market. This is made possible through its 145 production plants, 26 technical & sales offices, and presence in 26 countries. The company follows a client-focused approach as a core business strategy and manufactures interior products according to the client’s requirement. Its strong product portfolio and wide geographic presence would help the company become a key ambient lighting supplier for the top best-selling cars in the world.
Koito Manufacturing Co. Ltd. is a key player in the automotive ambient lighting market with innovative product offerings. The company has optimized its business structure and resource utilization through plant realignment and rationalization of production lines. Aggressive product developments, which include the development of LED headlamps and low-cost headlamps, would provide an advantage for the company in its business venture into emerging economies. The company has developed a strong product portfolio in its lighting segment.
Related Reports:
Automotive Ambient Lighting Market by IC & Electric Vehicle (BEV, FCEV, PHEV), Application (Footwell, Door, Dashboard, Center Console), Passenger Car (C, D, E & F), Aftermarket (Country & Application (Interior & Exterior)) - Global Forecast to 2027
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE
