Automotive Lighting Market Trends

Growth Drivers

• Increasing Demand of Dashboard Lights – which includes warning lights and indicators in a variety of colors. As per the 2020 data, over 100 passenger cars were produced every minute around the world, which is responsible for rising demand of dashboard lights, as car manufacturers today use more than 100 different dash board warning lights in a car. As there are lights for every conceivable system and situation of a vehicle, dashboard lights being the key, the automotive lighting market is expected to escalate in the projected period.
• Growing Adoption of Organic Light-emitting Diodes (OLED) – shipments of which is expected to rise from 120,000 units in 2022 to more than 4 million units by 2029.
• Rising Popularity of Laser Headlight – as it can produce light up to 1,000 times stronger light, while only using 2/3 of the power than the light produced and power used by LED technology.
• Policies Regarding Maintaining the Lights – for instance, lights maintenance on large trucks is a very important safety consideration. It was found that, nearly 100,000 large trucks were involved in crashes resulting in an injury, in 2020.
• Upsurge in the Demand of Halogen Headlights – which can be found on almost 80% of the cars on the road today.

Challenges

• High Cost of Installation of Latest Light System
• High Cost of LED Lights
• Concern Regarding Heating & Energy Wastage in Halogen Lights