NEW YORK , Aug. 23, 2024 /PRNewswire/ -- The global automotive lighting market size is estimated to grow by USD 12.37 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of almost 8.09% during the forecast period. Increasing demand for effective interior lighting is driving market growth, with a trend towards development of autonomous vehicles.
However, high cost of led lamps poses a challenge. Key market players include Continental AG, FlexNGate Group of Companies, General Electric Co., Hyundai Motor Group, Koito Manufacturing Co.
Ltd., Koninklijke Philips N.V.
, LG Corp., Lumax Industries Ltd, Marelli Holdings Co. Ltd.
, Namyung Lighting Co. Ltd, NXP Semiconductors NV, OSRAM Licht AG, Robert Bosch GmbH, Samsung Electronics Co. Ltd.
, Seoul Semiconductor Co. Ltd., Stanley Electric Co.
Ltd., Stellantis NV, Suprajit Engineering Ltd., Valeo SA, and Varroc Engineering Ltd.
. Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Market Driver The automotive lighting market is experiencing significant growth due to the advancements in autonomous driving technology. Companies such as Delphi, Continental, Bosch, Daimler, Scania, and Volvo are leading the charge in this area, expanding the market acceptance of semi-autonomous features in both passenger and commercial vehicles.
Self-driving cars are expected to become a reality within the forecast period, and the number of self-driving.