Automotive Ambient Lighting Market
The ambiance lighting market for automotive 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 growth of the ambiance lighting market for automotive is driven by the increasing vehicle production, increasing installation rate of ambiance lighting, and consumer inclination toward comfort, luxury, and style.
The manufacturers of ambiance lighting have adopted the strategies of expansion and collaborations & partnerships to gain traction in the ambiance lighting market for automotive. Collaborations & partnerships help to formulate a better business strategy by enabling a strong global footprint.
Objectives of the Study:
- To define and segment the market, in terms of volume (â000 units) and value (USD million), by application, vehicle segment, and region
- To segment the country-level aftermarket for Ambient lighting system and forecast the market size, by value and volume, based on application
- To segment the alternate fuel vehicle market for Ambient lighting and forecast the market size, by value and volume, based on application, vehicle segment, and region
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Key Players:
The market ecosystem consists of manufacturers such as 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); OEMs such as Volkswagen (Germany), Daimler AG (Germany), Ford Motor Company (US), Hyundai Motor Company (South Korea), Toyota Motor Corporation (Japan), Tata Motors (India), Mahindra & Mahindra Ltd (India); and equipment manufacturer associations such as Automotive Component Manufacturers Association of India (ACMA), Japan Automotive Manufacturers Association (JAMA), European Automobile Manufacturersâ Association (ACEA), and Canadian Vehicle Manufacturersâ Association, among others.
Automotive Ambient Lighting Market Target Audience
- Ambient lighting manufacturers
- Lighting source providers
- Original Equipment Manufacturers (OEM)
A strong product portfolio and collaboration with original equipment manufacturers (OEM) have given Hella a top spot in the ambiance lighting market for automotive. The companyâs key strengths are its R&D and collaboration with several players in the value chain. The company employs varied strategies of new product development and collaboration to maintain a competitive edge. Hella provided LED ambiance lighting systems with 24 color codes for Chevroletâs Camaro 2016. With the new technology, the color does not change in a static fashion. In 2016, Hella made a supply contract with BMW AG (Germany) for interior lighting.
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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.
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Source:Â Global Automotive Ambient Lighting Market Competitive Analysis