The Europe Automotive Lighting Market would witness market growth of 6.4% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 311.4 million units, showcasing a growth of 6.7% (2019-2022).
To develop cutting-edge technologies, incumbent industry participants make substantial R&D investments, thereby impeding the entry of new entrants. Diverse trade regulations across Europe influence significant corporations' procurement strategies and raw material costs. Furthermore, the revenue volatility of the companies can be attributed to the ever-changing nature of the lighting industry.
The field of lighting technology is undergoing rapid development, shifting its focus from the conventional passive function to OLEDs and human-centric illumination. Construction of organic light-emitting diodes requires flexible substrates (bases), including metal foils or plastic. They are more robust and flexible due to their ability to be coiled or bent. The automotive industry's most recent and popular trend is the implementation of flexible OLEDs. Audi and BMW presently employ flexible OLED technology in their vehicles and are developing interior illumination for automobiles utilizing flexible OLEDs.
According to the International Trade Administration (ITA) in Portugal projects, the small SUVs segment generated revenue of $1,329.00 million in 2022, and unit sales of 42.7 thousand vehicles are expected to be achieved by 2026. This expansion is anticipated because incorporating new technologies will make these automobiles safer, more comfortable, and more functional. Thus, the region showcases a massive potential for the growth of the market.
The Germany market dominated the Europe Automotive Lighting Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,234.9 Million by 2030. The UK market is exhibiting a CAGR of 5.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 7.2% during (2023 - 2030).
Based on Position, the market is segmented into Front Lighting, Back Lighting, Side Lighting, and Interior Lighting. Based on Vehicle Type, the market is segmented into Passenger Vehicle, Commercial Vehicle, and Electric Vehicle. Based on Technology, the market is segmented into LED, Halogen and Xenon. Based on Sales Channel, the market is segmented into Aftermarket and OEM. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Automotive Lighting Market will Hit $56.6 Billion by 2030, at a CAGR of 7.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Koninklijke Philips N.V., General Electric Company, ams-OSRAM AG, Valeo SA, Stanley Electric Co. Ltd., LG Electronics, Inc. (LG Corporation), KOITO MANUFACTURING CO., LTD, HELLA GmbH & Co. KGaA, Marelli Holdings Co., Ltd. and Robert Bosch GmbH
By Position (Volume, Million Units, Revenue, USD Billion/Millon, 2019-30)
By Vehicle Type (Volume, Million Units, Revenue, USD Billion/Millon, 2019-30)
By Technology (Volume, Million Units, Revenue, USD Billion/Millon, 2019-30)
By Sales Channel (Volume, Million Units, Revenue, USD Billion/Millon, 2019-30)
By Country (Volume, Million Units, Revenue, USD Billion/Millon, 2019-30)
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