According to the research report titled ‘Global Automobile Lighting Market (2021 Edition) - Analysis by Position (Front, Back, Others), Technology (LED, Halogen), Vehicle Type (PV, CV), By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global automobile lighting market was worth USD 20.93 billion in the year 2020 and is slated to garner substantial revenue during 2021-2026.

The growth catalysts for global automobile lighting market include variables like rising incorporation of lighting in various applications, increasing production of consumer electronics & automobiles, and elevated disposable income particularly in developing nations like India, Japan, and China which have prompted widespread adoption of LED technology.

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Moreover, the advancements in this field, and the surging integration LED & halogen in automotive lighting are creating lucrative opportunities for businesses in this line of work.

Besides, the budding automation in manufacturing industries is further accelerating the development of business sphere.

Based on technology, the industry is segregated into halogen and LED. With respect to vehicle type, the marketplace is split into passenger vehicles, and commercial vehicles.

In terms of position, worldwide automobile lighting market is categorized into back, front, and others. Of these, the front vertical is estimated to grow at a substantial rate during the speculated timeframe, owing to high concentration of original equipment manufacturers (OEMs) and original design manufacturers (ODMs) across industries.

Considering regional analysis, Asia Pacific market is poised to account for a sizable revenue share by 2026, owing to the soaring urban population, increasing disposable income, and enhanced manufacturing activities in the region. Additionally, soaring demand for automobile makers to improve the quality of the vehicles by limiting variability & eliminating errors for better assistance & visibility is further broadening the regional expansion. 

The well-known players in global automobile lighting industry include India Japan Lighting Pvt. Limited, Koito Manufacturing Co. Ltd., Fiem Industries Limited, Valeo, Lumax LLC, Stanley Electric Co. Ltd., Minda Industries Limited, Hella KGaA Hueck & Co., Osram Licht AG, and Varroc Group among others.