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At 14.41% CAGR Ambiance Lighting Market potentially worth $ 5.30 billion by 2022

Press Release   •   Jan 02, 2018 08:23 EST

ambiance lighting market for automotive, by value, is projected to grow at a CAGR of 14.41% from 2017 to 2022. It is projected to reach USD 5.30 billionby 2022 from an estimated USD 2.71 billion in 2017.

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The key players in the Ambiance Lighting Market include Hella KGaA Hueck & Co. (Germany), OSRAM Licht AG (Germany), Grupo Antolin (Spain),Federal-Mogul LLC (US), Koito Manufacturing Co., Ltd. (Japan), Robert Bosch GmbH (Germany), GENERAL ELECTRIC (US), Valeo S.A. (France), and Stanley Electric Co., Ltd. (Japan).

Asia Oceania is estimated to see the fastest growth of the ambiance lighting market for automotive, in terms of value. This growth is primarily driven by the increasing vehicle production and increasing penetration of luxury cars in the region.

Target Audience:

  • Ambiance lighting manufacturers
  • Lighting source providers
  • Original Equipment Manufacturers (OEM)

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The key factors driving the market growth include increasing penetration of ambiance 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 ambiance lighting.

The market for dashboard ambiance lighting is projected to grow at the highest CAGR, in terms of value, during the forecast period. The increasing demand for ambiance lighting and luxury vehicles are the key growth drivers for the dashboard ambiance lighting market.

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The ambiance lighting market for automotive is segmented by application, vehicle type, alternate fuel vehicles, and aftermarket. For the application of ambiance lighting in automotive, we have considered applications such as dashboards, foot well, doors, center console, and others (armrest, headliners, and seats). As ambiance lighting is available in C and above segment cars, we have considered C-segment, D-segment, E-segment, and F-segment. In this study, we have also covered alternate fuel vehicles (BEV, HEV, and PHEV) and aftermarket lighting products.

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