The automotive lighting market in North America is expected to grow from US$ 5.53 Bn in 2018 to US$ 6.84 Bn by the year 2027. This represents a CAGR of 2.5% from the year 2019 to 2027.
The vehicle lighting system is capturing a significant share in the automotive industry. The modern automotive lighting is a new trend. Factors such as increasing technological advances in lighting, continuous increase in the production of the automotive, stringent environment of rules & standards are some of the factors which contribute heavily towards the growth of the market. The automotive light also improves the performance and security of both driver and passenger while providing a complex design to suit the appearance of a premium car. The device of automotive lighting, such as headlamps, is becoming complex, and thus, they need specific testing equipment to combine them with innovative technologies in a consistent manner. In this market, OSRAM, Valeo, Philips are some of the big players who provide a broad array of automotive lighting products.
Vehicle lighting systems are gaining high traction worldwide. The car manufacturers need to ensure that their products, and ultimately the car parts, comply with various regulations to meet the international standards, which ensures the safety of drivers and passengers. For instance, automotive lightings marketed by HELLA GmbH comply with SAE regulations. The SAE International Lighting Standard Committee is a standardization body that is involved in developing standards for the benefits of drivers and passengers. Recently, the committee has published a standard J3069 for adaptive drive beam (ADB) headlamps, in which LD and LED light sources are used, and the beam is dynamically controlled. Stringent rules and regulations are expected to drive the growth of the automotive lighting market.
Currently, the US is dominating the automotive lighting market in terms of installation, which in turn boosts the demand for the automotive lighting market in the region. The US has a strong automotive sector and is one of the major automotive manufacturing hubs across the world. The company has the presence of a few major automotive manufacturers such as Fiat, Ford, General Motors, and Tesla. Also, some of the world’s largest automotive manufacturers have their manufacturing facilities across different parts of the country. Vehicle production in the US is significantly high, which makes it an attractive market for automotive components and lighting solution suppliers. The figure given below highlights the revenue share of Mexico in the North America automotive lighting market in the forecast period:
NORTH AMERICA AUTOMOTIVE LIGHTING MARKET - SEGMENTATION
North America Automotive Lighting Market - By Service
North America Automotive Lighting Market - By Application
North America Automotive Lighting Market - By Vehicle Type
North America Automotive Lighting Market - By Country
North America Automotive Lighting Market - Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 5.53 Billion |
| Market Size by 2027 | US$ 6.84 Billion |
| CAGR (2019 - 2027) | 2.5% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Automotive Lighting Market is valued at US$ 5.53 Billion in 2018, it is projected to reach US$ 6.84 Billion by 2027.
As per our report North America Automotive Lighting Market, the market size is valued at US$ 5.53 Billion in 2018, projecting it to reach US$ 6.84 Billion by 2027. This translates to a CAGR of approximately 2.5% during the forecast period.
The North America Automotive Lighting Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Automotive Lighting Market report:
The North America Automotive Lighting Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Automotive Lighting Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Automotive Lighting Market value chain can benefit from the information contained in a comprehensive market report.
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