According to a new report, published by KBV research, The Global Automotive LED Lighting Market size is expected to reach $24.9 Billion by 2029, rising at a market growth of 6.9% CAGR during the forecast period.
The Rear market is leading the Global Automotive LED Lighting Market by Position in 2022; thereby, achieving a market value of $9.4 billion by 2029. This is because the headlamp market has been continuously developing. Over the anticipated term, the dominance of front lights is maintained by the growing use of LED headlamps in comparison to halogen and Xenon. In addition, the demand is also increasing due to the need for safety measures.
The Commercial Vehicle market would exhibit a CAGR of 8.1% during (2023 - 2029). This is due to commercial transportation companies' increasing use of LEDs. The market for products will increase across several applications, including external lighting systems in buses or coaches, as commercial transportation businesses place greater emphasis on the energy economy and receive regulatory support for increasing road safety.
The OEM market acquires highest revenue share in Global Automotive LED Lighting Market by Sales Channel in 2022; thereby, achieving a market value of $13.8 billion by 2029. In recent times, vehicle OEMs have adopted automotive LED lighting completely. The comfort & safety of the consumer is the primary concern of the automakers, which will soon drive demand for the automotive LED lighting market. One of the reasons influencing the market is the rise of electric vehicles as a revolution in the automotive industry, many of which have high-quality LED lighting systems.
The Electric market would experience a CAGR of 7.4% during (2023 - 2029). International demand for EV lighting is predicted to rise in response to the release of high-end commercial EV truck models equipped with cutting-edge lighting systems. Another feature of large commercial trucks is their "intelligent lighting system," which highlights the expanding usage of cutting-edge headlamps in commercial EVs. It is anticipated that these elements will encourage the segment's growth.
The Asia Pacific market dominated the Global Automotive LED Lighting Market by Region in 2022; thereby, achieving a market value of $9.5 billion by 2029. The Europe market is poised to grow at a CAGR of 6.3% during (2023 - 2029). Additionally, The North America market would register a CAGR of 6.5% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/automotive-led-lighting-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of NXP Semiconductors N.V., Robert Bosch GmbH, Valeo SA, OSRAM GmbH (AMS AG), Grupo Antolin-Irausa, S.A., HELLA GmbH & Co. KGaA, Aptiv PLC, Denso Corporation, Hyundai Mobis Co., Ltd., and Koninklijke Philips N.V.
By Position
By Sales Channel
By Vehicle Type
By Propulsion Type
By Geography
Companies Profiled
Unique Offerings 
