Automotive Interior Ambient Lighting System Market Drivers and Market Studi

The global automotive interior ambient lighting system market in 2022 was US$ 36.2 billion and is estimated to be US$ 37.23 billion in 2023. According to the Future Market Insights Market report, the interior ambient lighting system market is projected to expand at a CAGR of 6.41% between 2023 and 2033, totaling around US$ 69.1 billion by 2033.

Key Takeaways from the Market Study

• The global automotive interior ambient lighting system market in 2022 was US$ 36.2 billion.

• The automotive interior ambient lighting system market expanded with a year-on-year growth of 4.1% in terms of value in 2022 reaching a value of about US$ 3,066.0 million by 2022 end.

• The global business is anticipated to witness a considerable CAGR of 5.4% by value during the period between 2022 and 2030.

• East Asia automotive interior ambient lighting system market is the most prominent market, expanding at a CAGR of 5.6% by volume over the forecast period.

• The global automotive interior ambient lighting market expanded at a CAGR of 5.2% between 2018 and 2022.

• China is projected to be one of the prominent markets in the Asia Pacific region with a value share of 68.9% of overall sales of automotive interior ambient lighting systems in East Asia in 2022. It is further expected to secure a CAGR of 6.9% during the forecast period.

• Japan holds a market share of 24.3%.

• India is predicted to capture a CAGR of 5.8%.

• Australia is estimated to record a CAGR of 5.12%.

• North America is a key market in the automobile interior ambient lighting system industry holding a market share of 52.8%.

• The United States holds a significant part in the region with a value share of 38.2%.

• Europe's large automotive market holds a market share of 45.4%.

• Germany also has Europe's high concentration of OEM factories with a value share of 33.2%.

• The United Kingdom holds a second position in the market region, which is expected to thrive at a CAGR of 4.12%.

• LEDs are said to hold a prominent share of the market.

• The most preferred and dominant technology in the current scenario is the LED segment, which might remain in the similar position in the upcoming years with a market share of 62.1%.

• Aftermarket segment has the most preferred sales.

• Aftermarket segment is projected to expand at 5.1% CAGR by volume.

• Luxury vehicles are said to hold a leading position in the market.

• Luxury vehicles hold a market share of 39.8% in the market regions as they are synthesized for transporting passengers and are designed to seat more than five individuals.

• Centre console and dashboard is estimated to have significant demand in the market.

• Centre console and dashboard segment is expected to have the huge demand in the market with a value share of 47.88%

Growth in the trend of customization among customers is one of the key trends of the global automotive interior ambient lighting system market”, comments a Future Market Insights Analyst.

Get more insights @ https://www.futuremarketinsights.com/reports/automotive-interior-ambient-lighting-systems-market 

Competitive Scenario

Key Players Profiled in the Market

• Valeo SA

• HELLA KGaAHueck& Co.

• OSRAM Licht AG

• LSI Industries Inc

• Everlight Electronics Co., Ltd

• Toshiba Corporation

• DRÄXLMAIER Group.

• Oshino Lamps Limited

• Innotec Group

• Grupo Antolin

• DOMINANT Opto Technologies Sdn. Bhd

Recent Industry Development in the Global Automotive Interior Ambient Lighting System Market:

• In June 2023, LSI Industries Inc. (Nasdaq: LYTS), a leading United States based manufacturer of commercial lighting and display solutions, announced that it has earned the opportunity to join the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitution.