The automotive photonics and lighting market is expected to grow at a CAGR of 10% during the forecast period of 2022 to 2030. In recent years, the field of photonics has seen a revolution in the automotive sector. Gone are the days when photonics was only used for lighting tasks; instead, it now provides cutting-edge technology for imaging, sensing, intelligent displaying, and communication networks for media. As a direct consequence of this, photonics has expanded into new areas that go well beyond the realm of illumination in automobiles, including automotive manufacturing and quality control.
The lighting market is expected to grow at a CAGR of approximately 6% during the forecast period as a result of the numerous growth opportunities. However, the market for automotive photonics is anticipated to have an increase of an even bigger magnitude and therefore anticipated to grow at a CAGR of 10% during the forecast period.
As advanced technologies of the next generation are being implemented in North America at a faster rate than in any other region, it is expected that North America will emerge as the most important region throughout the course of the projected period. The expansion in the United States can be linked to the increased funding provided by the government for research and development as well as the uses of laser optics and technology that is enabled by photonics.
Over the course of the projection period, Europe is anticipated to see substantial economic expansion. A long-term commitment to Public-Private Partnerships (PPP) has been made by member states across the area in order to facilitate the development of a photonics industry that is competitive in the region. In order to enable research institutes and enterprises in the region to work on the development of new photonics-based component production processes, the region is rapidly developing pilot production facilities.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
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The lighting market is expected to grow at a CAGR of approximately 6% during the forecast period as a result of the numerous growth opportunities. However, the market for automotive photonics is anticipated to have an increase of an even bigger magnitude and therefore anticipated to grow at a CAGR of 10% during the forecast period.
Impact of Covid-19
The global market for automotive lighting experienced a considerable decline in 2020, which can be partly attributable to the general slowdown in the manufacture of vehicles owing to the spread of Covid-19. The production of ICE automobiles has been significantly hampered as a result of the widespread COVID-19 outbreak. Prior to COVID-19, it was anticipated that the annual production of vehicles around the world would reach between 90 and 95 million units in 2020 and between 110 and 115 million units by 2025, with the regions of Asia Pacific and North America being the major contributors in the passenger car market segment. However, conventional car sales in China dropped by 80% in February, a lockdown that lasted for more than two months in manufacturing hubs like China is expected to disrupt the delivery of automotive electronic components across the globe, and an increase in unemployment as a result of the pandemic has reduced the capacity of consumers to make purchases.LEDs - Fastest Growing Segment
LED segment is expected to grow at the fastest pace during the forecast period 2022 to 2030. Headlights on passenger automobiles in the United States, Europe, and China have already transitioned over to using LEDs rather than HIDs and halogens, which were their predecessors. LEDs have an advantage over other lighting options because of how easily they can be integrated. In many areas, the use of HID lights, also known as high-intensity discharge lamps, is on its way out. In terms of cost, LEDs are the most expensive in comparison to other options, however, the product's superior efficiency and longevity more than makeup for the additional expense. Another factor that is accelerating the use of LEDs is the proliferation of LED Daytime Running Lamps (DRLs) in both the two-wheeler and four-wheeler markets. People in emerging economies tend to place a greater focus on the vehicle's fuel economy and its price than they do on the value of the vehicle's illumination, despite the fact that both of these factors are quite important. As a result, the Halogen lighting market is still significant in emerging economies.Passenger Vehicle Promising Largest Growth During the Forecast Period
It is anticipated that the automotive lighting industry for the passenger car sector will be the most lucrative during the forecast period. When compared to other types of vehicles, such as light and heavy commercial vehicles, the percentage of passenger vehicles that have sophisticated photonic technology and lighting is significantly higher. The market for vehicle photonics and lighting in this sector is anticipated to be driven by factors such as the increasing sales of passenger vehicles and the desire of consumers to pay higher prices for automobiles.Asia Most Lucrative Investment Destination During the Forecast Period
Asia Pacific is expected to grow at the largest CAGR promising significant opportunities during the forecast period 2022 to 2030. Though there was a significant decline in passenger car production in Asia Oceania, new manufacturing facilities are being set up and this is expected to revive the production volume. Because of their high levels of manufacturing and sales of automobiles countries such as China and Japan have amassed the largest shares of the market. The manufacturers in these countries also place a strong emphasis on technological developments, one of which is lighting; as a result, the need for automotive lighting is growing. The market would be further propelled by factors such as the rise in consumer income per capita and the strong sales of SUVs in developing nations like India. Because of the rise in the number of sales of premium cars, there has been significant growth in the demand for technologically superior lighting. During the time period covered by this projection, the growing use of more modern lighting in vehicles priced in the lower and middle segments of the automotive market is anticipated to create new chances for the expansion of the automotive lighting market in this area.As advanced technologies of the next generation are being implemented in North America at a faster rate than in any other region, it is expected that North America will emerge as the most important region throughout the course of the projected period. The expansion in the United States can be linked to the increased funding provided by the government for research and development as well as the uses of laser optics and technology that is enabled by photonics.
Over the course of the projection period, Europe is anticipated to see substantial economic expansion. A long-term commitment to Public-Private Partnerships (PPP) has been made by member states across the area in order to facilitate the development of a photonics industry that is competitive in the region. In order to enable research institutes and enterprises in the region to work on the development of new photonics-based component production processes, the region is rapidly developing pilot production facilities.
Market Remains Consolidated Leading to Cut-Throat Competition Among Market Players
Koito, Marelli, Valeo, Hella (formerly Forvia), and Stanley are the five major players that dominate the market in today's day and age. In 2021, these top five companies accounted to more than XX% of the market. Japanese businesses hold a preponderant share in the Asian market; Koito and Stanley together are responsible for XX% of the market's share. Local players have a significant advantage in the automotive lighting business in Europe. These players include the automotive lighting division of Marelli, Hella, Valeo, and ZKW. Signify, which is based in the Netherlands, Shin-Etsu Chemical Company, which is based in Japan, Nikon Corporation, which is based in Japan, SCHOTT, which is based in Germany, Hoya, which is based in Japan, Corning, which is based in the United States, American Elements, which is based in the United States, Ohara, which is based in Japan, Asahi Glass, and II-VI, which is based in Japan, are (U.S).Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Photonics and Lighting market are as follows:- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
- Geographical revenues generate by countries considered in the report
- Micro and macro environment factors that are currently influencing the Automotive Photonics and Lighting market and their expected impact during the forecast period.
Market Segmentation
Device
- ADAS Photonics Devices
- Imaging & Sensing - Inside
- Cameras
- Thermopiles
- Imaging & Sensing - Outside
- Backup Camera
- LiDAR
- Active & Passive IR
- Photodiodes
- Lighting
- Adaptive frontlighting
- Optical Communication
- Displays
- HUD
- Holography
- Projectors
- Augmented Reality
- Non ADAS Photonics Devices
- Exterior
- Lighting
- Halogen lamps
- HID
- LEDs
- Laser
- OLEDs
- Exterior Sensors
- IR active systems
- Spectroscopy
- Imaging Cameras
- Interior
- Imaging
- Sensing
- Lighting
- Halogen Lamps
- Neon Lamps
- LEDs
- OLEDs
- Optical Fibre
- Diffractive Optics
- Communication
- MOST (Media Oriented Systems Transport)
- Plastic Optical Fiber
- Display
- LED
- LCD
- Electrochromic Displays
- Power Train
- Solar cells
- Lase Ignition
- Comfort
- Mid IR Spectroscopy
- Transparent Solar Cells
Vehicle
- Passenger Cars
- Compact
- Mid
- Luxury
- SUVs
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicles
- Battery Electric
- Plug-in Hybrid Electric
- Hybrid Electric
- Two Wheelers
- Motorcycles
- Scooters
Sales Channel
- OEM
- Aftersales
Application
- Entertainment
- Comfort
- Safety
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Automotive Photonics and Lighting market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Automotive Photonics and Lighting market?
- Which is the largest regional market for Automotive Photonics and Lighting market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Automotive Photonics and Lighting market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Photonics and Lighting market worldwide?
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Table of Contents
1. Preface
2. Executive Summary
3. Automotive Photonics and Lighting Market: Competitive Analysis
4. Automotive Photonics and Lighting Market: Macro Analysis & Market Dynamics
5. Automotive Photonics and Lighting Market: By Device, 2020-2030, USD (Million)
6. Automotive Photonics and Lighting Market: By Vehicle, 2020-2030, USD (Million)
7. Automotive Photonics and Lighting Market: By Sales Channel, 2020-2030, USD (Million)
8. Automotive Photonics and Lighting Market: By Application, 2020-2030, USD (Million)
9. North America Automotive Photonics and Lighting Market, 2020-2030, USD (Million)
10. UK and European Union Automotive Photonics and Lighting Market, 2020-2030, USD (Million)
11. Asia Pacific Automotive Photonics and Lighting Market, 2020-2030, USD (Million)
12. Latin America Automotive Photonics and Lighting Market, 2020-2030, USD (Million)
13. Middle East and Africa Automotive Photonics and Lighting Market, 2020-2030, USD (Million)
14. Company Profile
List of Figures
List of Tables
Companies Mentioned
- Marelli
- Hella
- Valeo
- ZKW (Netherlands)
- Shin-Etsu Chemical Company (Japan)
- Nikon Corporation (Japan)
- SCHOTT (Germany)
- Hoya (Japan)
- Corning (United States)
- American Elements (United States)
- Ohara (Japan)
- Asahi Glass.
