According to the new market research report Automotive Ambient Lighting Market is estimated to grow at a CAGR of 14.41% from 2017 to 2022. It is projected to reach USD 5.30 Billion by 2022 from an estimated USD 2.71 Billion in 2017. The automotive ambient lighting market is driven by the increasing vehicle production, rising installation rate of ambient lighting, and growing demand for luxury vehicles.
The research methodology used in the report involves various secondary sources such as Society of Indian Automobile Manufacturers (SIAM), European Automobile Manufacturers’ Association (ACEA), and paid databases and directories such as Factiva, Bloomberg, and Hoovers. Experts from related industries and suppliers have been interviewed to understand the future trends of the automotive ambient lighting market. The bottom-up approach has been used to estimate the market size. In this approach, the country-wise vehicle production statistics have been taken into account for each vehicle type. To arrive at the market size for Ambient lighting for automotive, the average installation rate of Ambient lighting in automobiles has been multiplied with the vehicle production of the C and above segment cars of that particular country to get the market volume. The market size, in terms of volume, of Ambient lighting application units for each vehicle type is then multiplied by the average OE price (AOP) of the particular application.
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Leading Players Of Automotive Ambient Lighting Market Are:
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).
“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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“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.
“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.
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