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.
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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%
The rise in customer customization is one of the key trends in the global market for car interior ambient lighting systems, according to a Future Market Insights analyst.
Recent industrial advancements in the global market for vehicle interior ambient lighting systems include:
LSI Industries Inc. (Nasdaq: LYTS), a well-known American manufacturer of commercial lighting and display solutions, announced that it has been granted the right to join the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indices annual reconstitution.
Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global automotive interior ambient lighting system market providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the automotive interior ambient lighting system market is segmented based on major By Technology- (LED, Others), By Vehicle Type- (Compact, Sedan, Executive, SUV/MUV, Luxury, Sports, LCV, HCV), By Application- (Centre Console and Dashboard, Doors, Roof, Floor, Others), By Sales Channel – (OEM, Aftermarket), By Region- (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East and Africa)
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Automotive Interior Ambient Lighting System Market Segmentation
By Technology:
- LED
- Others
By Vehicle Type:
- Compact
- Sedan
- Executive
- SUV/MUV
- Luxury
- Sports
- LCV
- HCV
By Application:
- Centre Console and Dashboard
- Doors
- Roof
- Floor
- Others
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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