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The automotive cabin lighting market share is expected to increase by USD 702.32 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4%.
This automotive cabin lighting market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive cabin lighting market segmentations by technology (LED, halogen, and xenon) and geography (APAC, Europe, North America, South America, and MEA). The automotive cabin lighting market report also offers information on several market vendors, including Aptiv Plc, HELLA GmbH & Co. KGaA, Koito Manufacturing Co. Ltd., LG Electronics Inc., Marelli Holdings Co. Ltd., OSRAM GmbH, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Stanley Electric Co. Ltd., and Valeo SA among others.
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The increasing demand for effective interior lighting is notably driving the automotive cabin lighting market growth, although factors such as the lack of proper regulatory framework regarding cabin lighting may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive cabin lighting industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Cabin Lighting Market Driver
The increasing demand for effective interior lighting is notably driving the automotive cabin lighting market growth. Automotive interior lights increase the visual appeal of vehicles for customers. These lights accentuate the space and create a perception of increased cabin space in vehicles. In May 2015, Chevrolet introduced the concept of dynamic internal lighting for its Camaro 2LT and Camaro SS models with its interior spectrum lighting. This lighting system offers 24 diverse lighting effects in vehicle interiors, including dashboards, door panels, and cup holders. Ambient lighting in an automotive cabin highlights the texture of the seat and mimics the feel of a premium vehicle. Vehicle manufacturers have been increasing the number of light sources in their vehicles to attract buyers. Automakers can configure color patterns in their lighting, which can be changed based on haptic inputs from drivers. Established automobile manufacturers are focusing on using interior lighting to promote their brand by using a specific colored light for their vehicle cabin as brand identification. The increase in competition in the automotive industry has even led manufacturers of mid-segment cars and SUVs to use ambient lighting to differentiate their products. The increase in the use of interior lighting, even in mid-segment cars, is expected to drive the demand for automotive lighting during the forecast period.
Key Automotive Cabin Lighting Market Trend
The increasing demand for EVs is the key trend driving the automotive cabin lighting market growth. The growing emphasis on sustainable energy and the use of environment-friendly measures to curb CO2 emissions have been increasing the focus on EVs. LED lamps consume less than 25% of the energy compared with traditional lighting, which makes them an effective option in electric cars. As EVs rely on stored electricity from batteries, it becomes imperative for EV manufacturers to use energy-effective lighting. EV manufacturers are also using AI-based systems to increase the effectiveness of lighting systems used in electric cars. The rapid expansion of the EV charging infrastructure, the increase in awareness among consumers, and a full or partial ban on the use of fuel-powered vehicles are driving the demand for EVs across the world. Although the sales of EVs were less than that of conventional fuel-based vehicles in 2019, the demand for EVs is expected to increase due to favorable government policies supporting the use of energy-efficient vehicles. This, in turn, will drive the demand for efficient cabin lighting such as LED lighting in these vehicles during the forecast period.
Key Automotive Cabin Lighting Market Challenge
The major challenge impeding the automotive cabin lighting market growth is the lack of a proper regulatory framework regarding cabin lighting. Some regulatory frameworks aim at mandating the use of certain technologies in vehicles. Although every vehicle is equipped with cabin lighting, there are no regulations that check or standardize automotive cabin lighting in Europe, North America, and APAC. The absence of any stringent rules allows vehicle manufacturers to install various types of cabin lighting systems that may potentially distract the driver. Therefore, there should be a proper formulation of standards for cabin lighting regarding their lighting intensity, color, and light type to ensure the unhindered development of cabin lighting technologies. BMW and Mercedes Benz maintain the luminance value of cabin lighting at below 0.1 cd/m² (candela per square meter) to cause a minimal distraction to drivers. Therefore, the absence of a standard measure limiting the luminance of cabin lighting restricts the growth of the global automotive cabin lighting market, as vehicle manufacturers will be unwilling to develop cabin lighting technology further.
This automotive cabin lighting market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automotive cabin lighting market as a part of the global automotive components and accessories. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive cabin lighting market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive cabin lighting market encompasses successful business strategies deployed by the key vendors. The automotive cabin lighting market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive cabin lighting market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive cabin lighting market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Technology
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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