The North America Automotive Lighting Market would witness market growth of 6.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 431.0 Million units, showcasing a growth of 6.9% (2019-2022).
In the automotive industry, illumination, such as interior lighting, fog lights, headlights, and taillights, ensures safety, visibility, and aesthetics. It ensures that vehicles have sufficient illumination, particularly in situations with low light or inclement weather. This lighting is an essential element of design, in addition to ensuring safety. Progressive developments in automobile lighting technology have created adaptive lighting systems, which modify the beam pattern in response to varying driving conditions, including weather, curves, or impending traffic. Technological advancements have propelled its continuous evolution, enhancing driving experiences and refined vehicle designs.
The rising adoption of lighting integration with Advanced Driver Assistance Systems (ADAS) in autonomous vehicles is anticipated to drive market expansion throughout the forecast period. Integrating ADAS into lighting systems decreases the occurrence of road collisions and assists motorists in accurately determining the pace of approaching traffic. Market demand will increase due to the capacity of automotive illumination to facilitate vehicle-to-vehicle communication, transportation management centres, and vehicle infrastructure systems.
Canada is developing technologies and investing its funds in the green economy. According to the International Trade Administration (ITA), the Canadian Government aims to reach carbon neutrality by 2050 and has allocated significant investments in 2021, 2022, and 2023 budgets towards infrastructure and a green economy. Canadian subsidiaries of U.S. automakers announced substantial assets, including General Motors (US$785 million), Ford (US$1.5 billion), and Stellantis (US$ 1.14 billion), to prepare their production lines for electric vehicles. Thus, the region produces many vehicles, making it a substantial market for this lighting.
The US market dominated the North America Automotive Lighting Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $10,385.4 Million by 2030. The Canada market is experiencing a CAGR of 9% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 8.1% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Automotive Lighting Market is Predict to reach $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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