DUBLIN--(BUSINESS WIRE)--The "Automotive Ambient Lighting Market by Electric & Hybrid (BEV, HEV, PHEV), Application (Footwell, Door, Dashboard, Center Console), Passenger Car (C, D, E, and F), Aftermarket (Country and Application (Interior and Exterior)) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The ambient lighting market for automotive, by value, is projected to grow at a CAGR of 9.9% from 2020 to 2025. It is projected to reach USD 4.9 billion by 2025 from an estimated USD 3.0 billion in 2020.
The key factors driving the market growth include increasing penetration of ambient lighting in low to mid-segment vehicles, inclination toward luxury, and increasing vehicle production. The improving economic condition of developing regions such as Asia Oceania has boosted the market for premium vehicles, which are equipped with ambient lighting.
Centre Console ambient lighting to witness the fastest growth during the forecast period
The market for dashboard ambient lighting is projected to grow at the highest CAGR, in terms of value, during the forecast period. The increasing demand for ambient lighting and luxury vehicles are the key growth drivers for the center console ambient lighting market.
Asia Oceania to dominate the market growth
Asia Oceania is estimated to see the fastest growth of the ambient lighting market for automotive, in terms of value. This growth is primarily driven by increasing vehicle production and increasing penetration of luxury cars in the region.
- Increasing Sale of Ultra-Luxurious Vehicles
- Efforts to Optimize Interior Lighting
- Consumer Inclination Toward Comfort & Safety Features
- Easy Availability of Aftermarket Solutions
- High Cost of OE Integration
- Higher Cost of Led Lights Compared to Halogen Lights
- Enhanced Functionalities in Lighting
- Increasing Use of Mood Lighting
- Collaborations Among Automotive OEMs and Lighting System Manufacturers
- Possibility of Driver Distraction
- Presence of Unorganized Aftermarket
- Volatility of Raw Material Prices
- Increase in Competition from Local Companies Offering Counterfeit/Retrofit Solutions
- Draxlmaier Group
- Federal Mogul
- GENERAL ELECTRIC
- Grupo Antonin(Spain)
- Koito Manufacturing Co Ltd
- Lumax Industries Ltd
- Oshino Lamps Ltd
- OSRAM Licht AG
- Pacific Insights
- Samvardhana Motherson Automotive Systems
- Sigma International
- Stanley Electric Co Ltd
- Texas Instruments
- Toshiba Lighting and Technology Corporation
- ZIZALA LICHTSYSTEME Gmbh
For more information about this report visit https://www.researchandmarkets.com/r/c580ib
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900