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.