The global automotive interior ambient lighting system market was valued at USD 36.2 billion in 2022 and is projected to reach USD 37.23 billion in 2023. According to a report by Future Market Insights, the market is expected to grow at a CAGR of 6.41% from 2023 to 2033, potentially reaching approximately USD 69.1 billion by 2033.
Key Takeaways from the Market Study
- Market Valuation: The global automotive interior ambient lighting system market was valued at USD 36.2 billion in 2022.
- Year-on-Year Growth: The market expanded with a year-on-year growth rate of 4.1%, reaching about USD 3,066.0 million by the end of 2022.
- Future Growth Rate: The global market is anticipated to witness a considerable CAGR of 5.4% by value from 2022 to 2030.
- Regional Leadership: East Asia is the most prominent market for automotive interior ambient lighting systems, expected to expand at a CAGR of 5.6% by volume during the forecast period.
- Recent Growth: The global automotive interior ambient lighting market expanded at a CAGR of 5.2% from 2018 to 2022.
- China’s Dominance: China is projected to be a major market in the Asia Pacific region, accounting for 68.9% of overall sales in East Asia in 2022, with an expected CAGR of 6.9% during the forecast period.
- Japan and India: Japan holds a market share of 24.3%, while India is predicted to achieve a CAGR of 5.8%. Australia is estimated to record a CAGR of 5.12%.
- North American Market: North America is a key market in the automotive interior ambient lighting system industry, holding a 52.8% market share. The United States accounts for 38.2% of this share.
- European Market: Europe holds a 45.4% market share, with Germany having a high concentration of OEM factories and a 33.2% value share. The United Kingdom is expected to thrive at a CAGR of 4.12%.
- Technology Preference: LEDs dominate the market with a significant share. The LED segment is expected to maintain its position, holding a market share of 62.1%.
- Aftermarket Segment: The aftermarket segment is projected to grow at a 5.1% CAGR by volume.
- Luxury Vehicle Segment: Luxury vehicles represent a leading position in the market, holding a market share of 39.8%.
- Demand Segments: The center console and dashboard segment is expected to have significant demand, with a projected value share of 47.88%.
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Competitive Scenario
Key Players Profiled in the Market
- Valeo SA
- HELLA KGaAHueck& Co.
- OSRAM Licht AG
- LSI Industries Inc
- Everlight Electronics Co., Ltd
- Toshiba Corporation
- DRÄXLMAIER Group.
- Oshino Lamps Limited
- Innotec Group
- Grupo Antolin
- DOMINANT Opto Technologies Sdn. Bhd
“Growth in the trend of customization among customers is one of the key trends of the global automotive interior ambient lighting system market”, – comments a Future Market Insights Analyst.
Recent Industry Development in the Global Automotive Interior Ambient Lighting System Market:
- In June 2023, LSI Industries Inc. (Nasdaq: LYTS), a leading United States based manufacturer of commercial lighting and display solutions, announced that it has earned the opportunity to join the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitution.
Automotive Interior Ambient Lighting System Market Segmentation
By Technology:
- LED
- Others
By Vehicle Type:
- Compact
- Sedan
- Executive
- SUV/MUV
- Luxury
- Sports
- LCV
- HCV
By Application:
- Centre Console and Dashboard
- Doors
- Roof
- Floor
- Others
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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