Report Overview

The Indian automotive lighting market is forecasted to grow at a high CAGR owing greatly to the recent economic resurgence which has led to increased number of automobile sales in India, boosting automotive lighting market. Furthermore, rising adoption of advanced technologies driven by improved safety features are predicted to promote market growth. Additionally, stricter government automotive lighting regulations for better visibility and safety along with increasing adoption of advanced lighting in vehicles by consumer combined with the increasing disposable income of the consumer will boost and accelerate market growth throughout the forecast period.

India Automotive Lighting Market- Industry Trends & Forecast Report 2028

The Indian automotive lighting market was worth USD 2.9 billion in the year 2021. The market is projected to grow at a CAGR of 5.5% from 2022-2028 (forecast period), earning revenues of around USD 4.3 billion by the end of 2028. The increase in CAGR is due to market demand and growth, which is forecasted to return to pre-pandemic levels just after the pandemic passes. According to the World Health Organization (WHO), each year, over 1.25 million people die in road accidents caused by inclement weather, such as heavy rain, dust, fog, and other causes. As the frequency of traffic accidents has increased, so has the demand for sophisticated lighting solutions. Automotive lighting is crucial in automobiles because it improves the driver's vision. Car lights help drivers notice uneven road surfaces, other vehicles in motion, pedestrians, and other road hazards.

Furthermore, the increasing number of road accidents during bad weather and at night has become a significant source of concern among vehicle users. This has increased the demand for dependable and brightly lit automotive lighting. As a result, the increased emphasis on improved road safety through high-performance vehicle lights has produced a need for advanced lights that provide better illumination and visibility in the dark.

Automotive Lighting – Overview

The Indian government has drafted several regulations governing the proper installation of lighting equipment in passenger vehicles. More laws still need to be developed to increase vehicle safety in adverse weather situations. The installation of LED lighting in automobiles is encouraged by rules governing energy-efficient vehicles. As a result, such restrictions are projected to propel the automotive lighting market forward. The market has a strong growth potential due to various factors, including the rising adoption of advanced technologies driven by improved safety standards, which would surely boost the market growth.

In India, automobile sales have increased at a rapid pace. The recent economic resurgence has been especially beneficial to growth. This upward trend is likely to continue, with significant demand for passenger vehicles and two-wheelers during the forecast period. The automotive lighting business, which is dependent on the status of the automotive industry for growth, is predicted to benefit from the continued increase in vehicle sales. The increased disposable incomes of consumers are further enhancing the market scope.

India Automotive Lighting Market Forecast and Trends

Growth Drivers

Rising Adoption of Advanced Technologies Driven by Improved Safety Features to Promote Market Growth

The rising use of contemporary technologies is a key business trend. Vehicle manufacturers are constantly working to create technologically sophisticated systems that are lightweight, efficient, and small. Emerging technologies include OLED, lasers, and matrix-led lighting, for instance. The high-beam unit of a matrix LED consists of 25 distinct parts. Because of the high-beam feature, the matrix LED light may react appropriately to other vehicles and prevent any mishappening.

Due to the matrix led's connection to the sensors, it automatically turns on, off, or dims the light, protecting other drivers from being blinded. Nichia Corporation, for example, teamed with Infineon Technologies to develop a high-definition front illumination system comprised of 16,000 tiny LED matrix solutions. Only the lights that are turned on in this solution are required for the light pattern, which increases the solution's energy efficiency.

Stricter Government Automotive Lighting Regulations for Better Visibility and Safety to Accelerate Market Growth

Stricter lighting restrictions have propelled nations, including India, into the car lighting manufacturing business. Vehicle lighting is critical, especially while going on busy highways. Road accidents are a source of concern for governments worldwide and in India. Road traffic collisions kill 1.3 million people each year, according to the World Health Organization (WHO). Road accidents cost the majority of countries 3% of their GDP. As a result, it is critical to improving driving conditions, which can be accomplished in part by upgrading the lighting system. To improve road safety, the use of daytime running lights (DRLs) is done so as to ensure passenger safety. DRLs are efficient safety measures as their function is to help other road users and drivers see the automobile.

Restraint

Automotive Sales Are Expected to Decline, Impeding Indian Automotive Lighting Market Growth

The drop in car sales is likely to have a detrimental impact on the automotive lighting market as an impact of the COVID-19 pandemic. The significant increase in COVID-19 infections has prompted governments to enforce stricter regulations. The pause in transportation and travel is hampering automobile sales, which may reduce the adoption of automotive lights. Furthermore, the scarcity of raw materials required for the production of the light is likely to hamper the product's acceptance. Part-time shifts decreased capacity, and production machinery, on the other hand, may allow manufacturers to improve their brand image.

Impact of COVID-19 on India Automotive Lighting Market

The COVID-19 pandemic has affected the worldwide automotive supply chain. Not only have international production facilities been interrupted by the outbreak, but so have Indian automobile sales. Manufacturing plants have been closed, and new car sales have ceased, affecting the manufacture of vehicle lighting components. Demand for conventional and electric automobiles was expected to fall in 2020, affecting the market. Furthermore, R&D funding will be drastically decreased, which is predicted to limit the development of innovative vehicle lighting systems. The need for lighting is generally proportionate to vehicle output. Vehicle production and sales have declined since the onset of COVID-19, with a 20% drop projected in 2020.

India's automotive lighting market has been affected by the global restrictions caused by the pandemic. As restrictions are withdrawn in the majority of countries where a larger part of the population is vaccinated, it is expected that the compound annual growth rate (CAGR) as projected, will be achieved by the industry in the forecast period owing to the increased demands of automobiles.

India Automotive Lighting Market– By Technology

The market is divided into three segments based on technology: halogen, LED, and Xenon. The LED category will dominate the market over the forecast period. LED is expected to rise in popularity due to its low energy usage and higher power output when compared to halogen. Leading manufacturers are working hard to build sophisticated LED lights that will eventually replace halogen bulbs. Osram, for example, announced a new LED vehicle light series in December 2018. The series includes headlights with integrated LED technology, low and high beams, turn indicators, position lights, and a daylight operation mode.

Furthermore, the increased preference of consumers for energy-efficient LED systems and stringent government regulations may fuel demand for LED lighting. For example, all passenger vehicles must have LED lights at the front. Halogen Bulbs are predicted to maintain their second-largest market share because of lower production and maintenance costs. Over the forecast period, the Halogen light segment is expected to have the second-largest market share. Due to technical advancements, the Halogen Light Segment will dominate during the forecast period. In 2020, the halogen sector held almost 40% of the Indian automotive lighting market share.

India Automotive Lighting Market – By Vehicle Type

The market is divided into two segments based on the automobile type: passenger automobiles and commercial vehicles. The passenger car sector has the largest market share and is likely to dominate the Indian automotive lighting market during the projection period. Increased sales and manufacturing of passenger automobiles within India, which is a developing nation, will drive market growth. Due to the rising disposable income of the Indian consumer, the passenger vehicle segment will maintain dominance throughout the projection period. In 2020, the passenger automobile sector had almost 80% of the market. Due to government measures to improve commercial vehicle safety regulations, the commercial vehicle category is also predicted to demonstrate profitable growth in the market throughout the forecast period.

Competitive Landscape

The major market leaders include Magneti Marelli Motherson Auto System Pvt. Ltd., Osram India Pvt. Ltd., GE Lighting, Valeo, and Philips Automotive Lighting.

Phoenix Lamps Limited, Lumax Industries Limited, Neolite ZKW Lightings Pvt. Ltd., India Japan Lighting Private Limited, Varroc Engineering Limited, Hella India Lighting Ltd., Fiem Industries Ltd, UNO Minda Lighting, among other prominent players. Major market competitors use a variety of techniques, including mergers and acquisitions, innovative therapies, and others, to stay competitive and gain an advantage over rivals. The Indian automotive lighting market is consolidated with the presence of several manufacturing companies globally. The market leaders retain their supremacy by spending on research and development(R&D), incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are utilized to maintain their market share.

Recent Developments

• In April 2022, Magneti Marelli Motherson Auto System Pvt. Ltd. initiated talks to buy Italian automotive lighting component maker Marelli.

• In March 2022, Lumax Industries Ltd commences commercial production at their new plant in Sanand, Ahmedabad.

Scope of the Report

Attributes	Details
Years Considered	Historical data – 2018-2021
	Base Year – 2021
	Estimated Year - 2022
	Forecast Period – 2022-2028
Facts Covered	Revenue in USD Billion
Market Coverage	North America (U.S, Canada), Europe (Germany, United Kingdom, Italy, France, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Singapore, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Chile, Peru, Venezuela, Rest of Latin America), The Middle East and Africa (Saudi Arabia, UAE, South Africa, Iran, Oman, Turkey, Rest of Middle East & Africa)
Product Service/Segmentation	By Technology, By Vehicle Type, By Application.
Key Players	Magneti Marelli Motherson Auto System Pvt. Ltd., Osram India Pvt. Ltd., GE Lighting, Valeo, Philips Automotive Lighting, Phoenix Lamps Limited, Lumax Industries Limited, Neolite ZKW Lightings Pvt. Ltd., India Japan Lighting Private Limited, Varroc Engineering Limited, Hella India Lighting Ltd., Fiem Industries Ltd, UNO Minda Lighting among other prominent players.

 

By Technology

• Halogen

• Xenon

• LED

• Others

By Vehicle Type

• Passenger Vehicles

• Commercial Vehicles

• Electric Vehicles

• Others

By Application

• Front/Headlamps

• Rear Lighting

• Side Lighting

• Interior Lighting

• Fog Lamps

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Automotive Lighting Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising Adoption of Advanced Technologies Driven by Improved Safety Features
         2. Stricter Government Automotive Lighting Regulations for Better Visibility and Safety
      2. Restraints
         1. High cost of LED lights
         2. Others
      3. Opportunities
         1. Rising automobile production
         2. Others
      4. Challenges
         1. Volatility of raw material prices
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Automotive Lighting Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Technology
         1. Halogen
         2. Xenon
         3. LED
         4. Others
      2. By Vehicle Type
         1. Passenger Vehicles
         2. Commercial Vehicles
         3. Electric Vehicles
         4. Others
      3. By Application
         1. Front/Headlamps
         2. Rear Lighting
         3. Side Lighting
         4. Interior Lighting
         5. Fog Lamps
         6. Others
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on India Automotive Lighting Market
7. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
   1. Magneti Marelli Motherson Auto System Pvt. Ltd.
   2. Osram India Pvt. Ltd.
   3. GE Lighting
   4. Valeo
   5. Philips Automotive Lighting
   6. Phoenix Lamps Limited
   7. Lumax Industries Limited
   8. Neolite ZKW Lightings Pvt. Ltd.
   9. India Japan Lighting Private Limited
   10. Varroc Engineering Limited
   11. Hella India Lighting Ltd.
   12. Fiem Industries Ltd
   13. UNO Minda Lighting
   14. Other prominent players

 

8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumptions & Limitations

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

Figure 1        India Automotive Lighting Market Segmentation

Figure 2        India Automotive Lighting Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        India Automotive Lighting Market Size, By Value (USD Billion), 2018-2028

Figure 5        India Automotive Lighting Market Share, By Technology, By Value, 2018-2028

Figure 6        India Automotive Lighting Market Share, By Vehicle Type, By Value, 2018-2028

Figure 7        India Automotive Lighting Market Share, By Application, By Value, 2018-2028

 

List of Tables

Table 1         India Automotive Lighting Market Size, By Technology, By Value, 2018-2028 (USD Billion)

Table 2         India Automotive Lighting Market Size, By Vehicle Type, By Value, 2018-2028 (USD Billion)

Table 3         India Automotive Lighting Market Size, By Application, By Value, 2018-2028 (USD Billion)

Table 4         Magneti Marelli Motherson Auto System Pvt. Ltd. Company Overview

Table 5          Magneti Marelli Motherson Auto System Pvt. Ltd. Financial Overview

Table 6         Osram India Pvt. Ltd. Company Overview

Table 7         Osram India Pvt. Ltd. Financial Overview

Table 8         GE Lighting Company Overview

Table 9         GE Lighting Financial Overview

Table 10        Valeo Company Overview

Table 11        Valeo Financial Overview

Table 12        Philips Automotive Lighting Company Overview

Table 13        Philips Automotive Lighting Financial Overview

Table 14        Phoenix Lamps Limited Company Overview

Table 15        Phoenix Lamps Limited Financial Overview

Table 16        Lumax Industries Limited Company Overview

Table 17        Lumax Industries Limited Financial Overview

Table 18        Neolite ZKW Lightings Pvt. Ltd. Company Overview

Table 19        Neolite ZKW Lightings Pvt. Ltd. Financial Overview

Table 20        India Japan Lighting Private Limited Company Overview

Table 21        India Japan Lighting Private Limited Financial Overview

Table 22        Varroc Engineering Limited Company Overview

Table 23        Varroc Engineering Limited Financial Overview

Table 24        Hella India Lighting Ltd. Company Overview

Table 25        Hella India Lighting Ltd. Financial Overview

Table 26        Fiem Industries Ltd Company Overview

Table 27        Fiem Industries Ltd Financial Overview

Table 28        UNO Minda Lighting Company Overview

Table 29        UNO Minda Lighting Financial Overview