North America Automotive LED Lighting Market Size, Share & Industry Trends Analysis Report By Position, By Sales Channel, By Vehicle Type (Passenger Car and Commercial Vehicle), By Propulsion Type, By Country and Growth Forecast, 2023 - 2029
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Market Report Description
The North America Automotive LED Lighting Market would witness market growth of 6.5% CAGR during the forecast period (2023-2029).
From two-wheelers to four-wheelers, these are being consumed more and more. It is becoming more and more popular every day. It is divided into different categories based on the location of the vehicle. It can be mounted inside the car and on the side, front, and back. The productivity of the entire plant is increased with LED illumination. LED lighting may save time and money, generate business intelligence data, eliminate waste and redundancies, and improve factory operations by integrating with industrial automation systems.
There have been many complaints about poor visibility on the roadways, especially at night when it is difficult to see other cars coming up behind. Unfortunately, fatal vehicle accidents occur at night in over half of the cases. Additionally, due to the great visibility obtained from the vehicle LED lighting in the headlights, users of LED lighting in automobiles can now experience a safer motoring experience. Moreover, because they are more energy-efficient and have longer life cycles than traditional HID lights, the market for automotive LED lighting is expected to rise strongly over the next years.
The demand for commercial vehicles is increasing across North America. The reason for this is the increasing requirement for long-distance operations in fleet management. Additionally, various laws related to carbon emissions are being passed by local governments. To reduce carbon emissions, local manufacturers are incorporating the same technology into buses & commercial vehicles. For instance, a long duty cycle or fuel efficiency improvement has previously been applied to trucks used for long-distance hauling.
The US market dominated the North America Automotive LED Lighting Market by Country in 2022; thereby, achieving a market value of $4,785.2 million by 2029. The Canada market is poised to grow at a CAGR of 8.9% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 7.9% during (2023 - 2029).
Based on Position, the market is segmented into Rear, Front, Side, and Interior. Based on Sales Channel, the market is segmented into OEM and Aftermarket. Based on Vehicle Type, the market is segmented into Passenger Car and Commercial Vehicle. Based on Propulsion Type, the market is segmented into ICE, Electric and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Automotive LED Lighting Market is Projected to reach USD 24.9 Billion by 2029, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NXP Semiconductors N.V., Robert Bosch GmbH, Valeo SA, OSRAM GmbH (AMS AG), Grupo Antolin-Irausa, S.A., HELLA GmbH & Co. KGaA, Aptiv PLC, Denso Corporation, Hyundai Mobis Co., Ltd., and Koninklijke Philips N.V.
Scope of the Study
Market Segments Covered in the Report:
By Sales Channel
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Propulsion Type
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- NXP Semiconductors N.V.
- Robert Bosch GmbH
- Valeo SA
- OSRAM GmbH (AMS AG)
- Grupo Antolin-Irausa, S.A.
- HELLA GmbH & Co. KGaA
- Aptiv PLC
- Denso Corporation
- Hyundai Mobis Co., Ltd.
- Koninklijke Philips N.V.
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