Automotive Lighting Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Automotive Lighting Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON , UK, March 18, 2022 /EINPresswire.com/ -- Companies investing heavily to develop fog-free lamps is one of the automotive lighting market trends. This automotive lighting resolves fog issues and also fulfill requirements such temperature, humidity and vibration that were challenging earlier. For instance, Hyundai Mobis announced that it has succeeded in developing new materials that can technically resolve fog issues. The company partnered with Initz (SK Chemical's subsidiary) in developing new material using various additives to plastic that does not emit gases. It also developed material that reduces the weight of the lamp by 20%. The development of fog-free lamps will contribute to the growth of the market.

The global automotive lighting market size is expected to grow from $11.96 billion in 2021 to $25.77 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The automotive lighting market is expected to reach $39.03 billion in 2026 at a CAGR of 10.9%.

Read more on the Global Automotive Lighting Market Report:
https://www.thebusinessresearchcompany.com/report/automotive-lighting-global-market-report

During the forecast period, a growing emphasis on road safety will contribute to the global automotive lighting market growth. The demand for safety features along with the adaptive lighting system has increased due to an increase in the number of road accidents worldwide. Vehicles with adaptive and advanced lightings can provide optimum road illumination and detect objects on the road, thereby enabling the driver to take appropriate actions. These factors are leading to the growth in demand for adaptive and better lighting systems in vehicles and will thereby drive the automotive LED lighting market.

Major players covered in the global automotive lighting industry are Hella, Koito Manufacturing Co. Ltd., Osram Licht AG, Koninklijke Philips N.V., Magnetti Marelli, Grupo Antolin, Flex Automotive GmbH, Lumax Industries Limited, Valeo Lighting Systems, and Bosch Lighting Technology.

TBRC’s global automotive lighting market report is segmented by vehicle type into passenger vehicle, commercial vehicle, by technology into halogen, xenon/HID (high-intensity discharge lamp), LED (light emitting diode), by application into front/headlamps, rear lighting, side, interior lighting.

Automotive Lighting Global Market Report 2022 – By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By Technology (Halogen, Xenon/HID (High-intensity Discharge Lamp), LED (Light Emitting Diode)), By Application (Front/Headlamps, Rear Lighting, Side, Interior Lighting) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a automotive lighting market overview, forecast automotive lighting market size and growth for the whole market, automotive lighting market segments, geographies, automotive lighting market trends, automotive lighting market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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