PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1635091
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1635091
The global automotive ambient lighting market is projected to grow from an estimated $4.8 billion in 2024 to $9.4 billion by 2030, reflecting a compound annual growth rate (CAGR) of around 11.9% during the forecast period. This growth is driven by the increasing demand for luxury and premium vehicles, the rising use of mood lighting, and a growing preference for multicolor ambient lighting in high-end vehicles.
Key Insights
LED technology dominates the market, holding the largest revenue share due to its lower energy consumption and superior performance compared to other lighting technologies. The increasing demand for LED lighting solutions has become a prominent market trend, as these lights consume significantly less energy than compact fluorescent lamps (CFLs) and cold cathode fluorescent lamps (CCFLs).
Dashboard lights are expected to dominate the industry throughout the forecast period, witnessing the fastest growth rate. The rise in the installation of ambient lighting, owing to the increasing emphasis on comfort and luxury, is driving this demand.
Passenger vehicles, especially cars, dominate the automotive ambient lighting market and are expected to witness the highest growth. This is largely driven by their role in enhancing the aesthetics and mood of the vehicle, catering to consumer preferences for luxury and customization.
Asia-Pacific leads the market, driven by the increasing demand for economy vehicles and the growth of the automotive sector in countries like China, South Korea, India, and Japan. These countries account for a significant portion of the global vehicle production, boosting the demand for automotive ambient lighting solutions.
The surge in the sale of ultra-luxurious automobiles, equipped with infotainment and navigation systems, is a key driver for the market. Additionally, the growing availability of automotive aftermarket solutions and the expanding adoption of LED lights in automobiles are bolstering market value.
A significant challenge for the automotive ambient lighting market is the potential for driver distraction caused by ambient lighting. With many road accidents attributed to human error, ensuring that drivers remain focused on the road and vehicle systems is critical.