Automotive Lighting Market Size is projected to reach USD

New York, United States, Oct. 19, 2022 (GLOBE NEWSWIRE) — Automotive vehicles, including passenger cars and commercial vehicles, require cost-effective and energy-efficient lighting systems for a safe driving experience. Increasing purchasing power and automotive production propel the demand for automotive lighting systems. According to an analysis by the Organisation Internationale des Constructeurs d’Automobiles (OICA), the sales of passenger cars increased from 68.5 million units to 66.4 million units from the year 2015 to 2016. The acceptance of intelligent lighting technologies such as driver assistance at night and situation-based light control in commercial vehicles is creating growth opportunities for the automotive lighting market. Furthermore, the increasing demand for passenger cars is aiding the consumption of automotive lighting products globally. Automobile companies are focusing on improving vehicle aesthetics, which is surging the demand for high-quality lighting systems. Additionally, the demand for commercial vehicles is escalating, owing to government infrastructure development projects and improvement in trade and transportation.

Lighting systems improve visibility for drivers in case of unusual conditions and enhance the aesthetic appeal of different parts of a vehicle. The emergence of new technologies such as OLED, LED, and laser is providing substantial growth potential, which is anticipated to boost the automotive lighting market; however, the development and implementation of such solutions are complex. Key players and OEMs in the automotive lightening industry possess substantial purchasing power, which allows them to procure lighting systems in bulk and negotiate favorable pricing. Governments are taking initiatives to enhance driving experience and reduce accidents, which is positively influencing the market growth. For instance, the National Road Safety Policy in India has introduced several measures, including safer…