The market is driven by the high installation rate of ambient lighting in mid and premium segment cars. Additionally, the increasing penetration of ambient lighting in low and mid-segment vehicles would drive the market in developing countries. The increasing demand for luxury, comfort, and convenience is also expected to drive the market.
Global Automotive Ambient Lighting Market is estimated to be USD 2.29 Billion in 2016 and is projected to reach USD 5.30 Billion by 2022, at a CAGR of 14.41% from 2017 to 2022.
Browse 89 Market Data Tables and 39 Figures spread through 138 Pages and in-depth TOC on “Ambiance Lighting Market for Automotive – Global Forecast to 2022”
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Key Players of Ambiance Lighting Market for Automotive
The major companies in the automotive ambient lighting market are profiled in the study. These include HELLA KGaA Hueck & Co. (Germany), OSRAM Licht AG (Germany), Grupo Antolin (Spain), Federal-Mogul LLC (US), Koito Manufacturing Co., Ltd. (Japan), Robert Bosch GmbH (Germany), GENERAL ELECTRIC (US), Valeo S.A. (France), and Stanley Electric Co., Ltd. (Japan).
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E segment vehicles to be the largest segment of automotive ambient lighting market
The study segments the automotive ambient lighting market, by vehicle segment, into C segment, D segment, E segment, and F segment. E segment cars are estimated to be the largest market for ambient lighting during the forecast period. The market growth of this vehicle segment can be attributed to the increasing production of passenger cars and increasing installation rate of ambient lighting in the low and mid-segment cars.
Dashboard ambient lighting market to witness the highest growth
The study segments the automotive ambient lighting market by application into the dashboard, doors, footwell, center console, and others. Of all these applications, the dashboard ambient lighting market is estimated to grow at the highest CAGR during the forecast period. With the increasing installation of ambient lighting and sale of premium cars, the market for dashboard ambient lighting is expected to grow at a fast pace.
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Asia Oceania to be the largest automotive ambient lighting market”
Asia Oceania is considered as a production hub for the automotive industry, particularly for low and mid-segment cars. The region has created several opportunities for the ambient lighting manufacturers as well as suppliers. However, in a country like the US, there is a high demand for luxury cars that are equipped with ambient lighting. Moreover, the increase in the purchasing power of the population has driven the demand for automotive ambient lighting market.