Global market volume estimation about automotive interior LED lights from the year 2002 to 2032

With the development of LED technology, automotive interior LED light has become an effective brand differentiator. Auto makers are increasingly focusing on creating custom-made interior led lights in terms of safety and road legality. Also, the general trend for miniaturization of components is making automotive LED lights more suitable for interior lighting applications.

In the year 2022, the global automotive interior LED light market volume is estimated to be worth US$ 33.08 Bn. It is expected to grow at a steady CAGR of 5%, by the end of 2032, the market will reach a global volume of US$ 53.88 Bn.

Asia-Pacific is expected to be a prominent market of automotive interior LED market, with an anticipated CAGR of 5% from 2022 to 2032. The market growth arises much from the increase in production of various vehicles and increasing requirement and sale of luxury cars.

North America is estimated to be a growth rate of 4.5%. The market growth is driven by the increasing market demand for commercial vehicles needed by logistics industry and booming e-commerce sector. 

Europe will account for 6% CAGR from 2022 to 2032. Auto makers and suppliers of automotive electronic components keep investing in research and development of safety technologies in order for pedestrian safety and driving criteria. The automotive LED lights revenue in Europe is estimated to be up to by the year 2027 due to the strong presence of several world-famous automobile manufacturers.

It is expected that 12V automotive interior LED light is going to maintain more than a half of market share because of its low electromagnetic radiation, wide operating temperature and dimmable nature.

There are a number of famus players in the automotive interior LED light market, such as Koito Manufacturing, Magneti Marelli, Valeo Group, Stanley Electric, Lumax Industries, Hella, Zizila Lichtsysteme, Tungsram and Osram.