Automotive Dashboard Lighting Market: Introduction
- Increase in sales and production of IC engine, electric, and hybrid vehicles, led by rising adoption of passenger and commercial vehicles for several transportation applications and for personal use, is estimated to boost the automotive dashboard lighting market during the forecast period.
- Automotive dashboard lighting indicates several lights on the vehicle dashboard, which have different colors and meaning. A red light is considered as a serious warning or alert in the vehicle, which may indicate major component failure or issue. An amber or yellow light indicates a warning sign or lower-hazardous issue. For instance, traction control system light glows while driving on a slippery road. Furthermore, green or blue light indicates that a feature is simply engaged.
Key Drivers of Global Automotive Dashboard Lighting Market
- Rising production of vehicles across the globe and increasing adoption of passenger and commercial vehicles for personal use propel the demand for automotive dashboard lightings. Rising innovation and technical development in vehicle manufacturing are prompting automakers to design special lighting in dashboards, which alert the driver about issues and enhance security features in the vehicle. Furthermore, increasing disposable income of consumers is boosting spending on comfort and advanced features in cars, which further propels the automotive dashboard lighting market.
- Automakers are also offering appealing features and lighting in their vehicle interiors, which attracts customers. Manufacturers are using different LEDs that lend a pleasing aesthetic appearance to their vehicles. Moreover, an increase in demand for dashboards that have several integrated functions and rise safety concern are driving the automotive dashboard lighting market.
Challenges in Global Automotive Dashboard Lighting Market
- HID and LED lighting products that are used in vehicle dashboards, which consume less energy and last longer. Lighting products are efficient; however, the cost associated with it is very high, which restrains the automotive dashboard lighting market.
- The COVID-19 pandemic led to the shutdown of vehicle manufacturing processes, hampered automotive sales and hinders the demand for automotive dashboard lighting. Moreover, national and international boarders were closed, which disrupted global supply chains and resulted in shortage of raw materials that are required for manufacturing of lighting products. Furthermore, the COVID-19 pandemic also impacted manufacturing processes of vehicle components, which further hampered the production of dashboard lightings that were used in the aftermarket segment.
Opportunities in Global Automotive Dashboard Lighting Market
- Rising technological integration in vehicles, such as incorporation of different sensors, safety features, vehicle monitoring systems, and trending technological additions such as car visualization, artificial intelligence, and machine learning, boosts the adoption of different dashboard lighting in vehicles. Currently, most consumers focus on the purchase of smart vehicles that provide advanced comfort and safety while driving. A dashboard has several LEDs that alert the driver of any issue or on-going function in the vehicle. Therefore, technological developments in the vehicle are expected to propel the market during the forecast period.
- Governments across the globe are providing several incentives to boost the production capacity of electric vehicles. Electric vehicles have different smart functions and appealing car interiors, which in turn is anticipated to boost the automotive dashboard lighting market in the near future.
Automotive Dashboard Lighting Market in Asia Pacific to Expand Significantly
- Demand for automotive dashboard lighting is significantly high in Asia Pacific, due to rising sales of electric vehicles, SUVs, passenger cars, and luxury vehicles. Moreover, the region has more number of domestic and international lighting or LED manufacturers, which further contributes to the dashboard lighting market. In Asia Pacific, demand for premium and electric vehicles is significantly high, which further boosts the market in the region. Additionally, China recorded a production of around 22 million units of passenger cars in 2020, which is considered as largest production across the globe. Therefore, demand for automotive dashboard lighting is estimated to be considerably high in the aftermarket segment of the market in Asia Pacific. Furthermore, countries in Asia also have the highest number of registered vehicles, which offers significant opportunities for the market.
Key Players Operating in Global Automotive Dashboard Lighting Market
The global automotive dashboard lighting market is highly consolidated. A few of the key players operating in the global automotive dashboard lighting market are:
- General Electric Co.
- Hella KGaA Hueck & Co
- Hyundai Mobis
- ICHIKOH INDUSTRIES LTD
- Magneti Marelli S.p.A
- OSRAM Licht Group
- Royal Phillips Electronics
- SAMSUNG ELECTRONICS Co., Ltd
- Stanley Electric Co. Ltd
- Zizala Lichtsysteme GmbH
- Koito Manufacturing Co., LTD.
Global Automotive Dashboard Lighting Market: Research Scope
Global Automotive Dashboard Lighting Market, by Lighting Type
- Oil Pressure Light
- Tire Pressure Warning Light
- Engine Temperature Warning
- Traction Control Light
- Anti-lock Brake Warning Light
- Engine Warning Light
- Battery Alert
- Low Fuel Indicator
Global Automotive Dashboard Lighting Market, by Vehicle Type
- Electric Vehicle
- Passenger Vehicle
- Utility Vehicles
- Light Commercial Vehicle
- Buses and Coaches
Global Automotive Dashboard Lighting Market, by Sales Channel
Global Automotive Dashboard Lighting Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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