Increasing consumer preference for value-added features in vehicles that offer a fine balance of functionality and aesthetic appeal is primarily fueling the growth of automotive interior surface lighting market. A recently published report of Persistence Market Research (PMR) suggests that the global automotive interior surface lighting market will reach the US$ 5 Bn mark in 2029 end, witnessing a healthy CAGR during 2019 – 2029.
While luxury cars are experiencing a surge in demand in North America, Europe, and Asia Pacific, the demand for automotive interior surface lighting will continue to soar in the following years. End users are inclined towards spending more on maintaining high-end vehicle ambience, which would remain among the key factors boosting the demand for automotive interior surface lighting solutions.
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FACTS AT A GLANCE
Companies: Valeo SA, HELLA KGaA Hueck & Co, Toshiba Corporation, OSRAM Licht AG, Grupo Antolin, and Dräxlmaier Group
Coverage: All major geographies and key segments
Segments: Automotive Interior Surface Lighting Market Segmentation By Automotive Interior Ambient Lighting, Automotive Lighting, Interior Surface Lighting
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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ABSTRACT-
Persistence Market Research (PMR) recently published a study report on the global automotive interior surface lighting market. The report provides detailed valuation on key market dynamics such as drivers, trends, opportunities, and restraints, along with detailed information about the automotive interior surface lighting market structure. This market research report presents exclusive facts and figures about how the automotive interior surface lighting market will grow over the forecast period.
Key indicators of market growth, such as value chain analysis, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the automotive interior surface lighting market over the forecast period.
The study is relevant for stakeholders in the automotive interior surface lighting market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the automotive interior surface lighting market can leverage the information and statistics presented in PMR’s research report.
The report includes facts & figures related to the macro as well as macroeconomic factors that are impacting the growth of the automotive interior surface lighting market. The study also offers actionable insights based on the future trends in the automotive interior surface lighting market. Furthermore, regional players and new entrants in the automotive interior surface lighting market can also use the information presented in this report to make business decisions and gain momentum in the market.
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Key Takeaways
- A key trend witnessed in the automotive interior surface lighting market is the incorporation of smart connect technology via Bluetooth or Wi-Fi, known as wireless operated interior surface lighting.
- Manufacturers are focusing on partnerships with car body modifiers (interior & exterior) in the aftermarket as these modifiers can significantly boost growth of the automotive interior surface lighting market. Additionally, key players are involved in designing vehicle specific interior ambient lights that enhance automotive interior aesthetics.
- Lights guides are gaining traction in the global automotive interior surface lighting market due to its optimum cost and easy installation
- In the passenger cars segment, luxury vehicles sub-segment is expected to dominate the market, and hold more than 50% of the market share of passenger car interior surface lighting in the forecast period.
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