Automotive Lighting Market Share

Regionally, the global automotive lighting market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Europe is projected to hold the largest market share by the end of 2037, backed by the presence of a strong mobility network in the region, growing innovations towards a new era of mobility and a carbon-neutral Europe, as well as the rising investment in research & development (R&D) in the automotive sector. As per 2021 data, it was found that, Europe invested around USD 61 billion per year and is responsible for 33% of total EU spending on innovation, the automotive sector.