Lighting Equipment For Motor Vehicles Market

The article discusses the increasing demand for electrical lighting and visual signaling equipment for motor vehicles and cycles worldwide, forecasting a positive trend in market performance with steady growth in consumption and production. The market is expected to reach a volume of 2.9B units and a value of $37.3B by 2030. Consumption in 2022 reached 2.7B units, with key consuming countries including China, the United States, and India. Production expanded to 3.4B units in 2022, with China leading in volume. Import and export dynamics are also explored, with China being the largest exporter and the United States the major importer. Automotive lighting dominates exports, while production and consumption trends vary among different countries.

Market Forecast

Driven by increasing demand for electrical lighting or visual signaling equipment for motor vehicles and cycles worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.8% for the period from 2022 to 2030, which is projected to bring the market volume to 2.9B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $37.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

In 2022, approx. 2.7B units of electrical lighting or visual signaling equipment for motor vehicles and cycles were consumed worldwide; increasing by 3.8% on 2021 figures. Overall, consumption recorded modest growth. As a result, consumption reached the peak volume of 2.8B units. From 2021 to 2022, the growth of the global consumption remained at a lower figure.

The value of the market for electrical lighting or visual signaling equipment for motor vehicles and cycles worldwide was estimated at $29.7B in 2022, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $30B. From 2021 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (398M units), the United States (365M units) and India (282M units), together accounting for 39% of global consumption. Brazil, Indonesia, Germany, Japan, France, Canada, Spain, Slovakia, Turkey and Italy lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Slovakia (with a CAGR of +8.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($4.6B) led the market, alone. The second position in the ranking was taken by Germany ($2.1B). It was followed by China.

In the United States, the lighting equipment for motor vehicles market contracted by an average annual rate of -1.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Germany (-4.1% per year) and China (+0.2% per year).

The countries with the highest levels of lighting equipment for motor vehicles per capita consumption in 2022 were Canada (1,258 units per 1000 persons), the United States (1,089 units per 1000 persons) and Germany (996 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Slovakia (with a CAGR of +8.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Global lighting equipment for motor vehicles production expanded modestly to 3.4B units in 2022, increasing by 2.2% compared with 2021. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 12%. Global production peaked at 4B units in 2014; however, from 2015 to 2022, production remained at a lower figure.

In value terms, lighting equipment for motor vehicles production expanded to $28.6B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 12% against the previous year. Global production peaked at $29.3B in 2020; however, from 2021 to 2022, production failed to regain momentum.

Production By Country

China (1.1B units) constituted the country with the largest volume of lighting equipment for motor vehicles production, comprising approx. 32% of total volume. Moreover, lighting equipment for motor vehicles production in China exceeded the figures recorded by the second-largest producer, South Korea (274M units), fourfold. The third position in this ranking was taken by Japan (212M units), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +2.7%. In the other countries, the average annual rates were as follows: South Korea (+12.3% per year) and Japan (+3.4% per year).

Imports

World Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

In 2022, overseas purchases of electrical lighting or visual signaling equipment for motor vehicles and cycles decreased by -1.3% to 1.5B units for the first time since 2015, thus ending a six-year rising trend. In general, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.8% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 19%. As a result, imports reached the peak of 1.5B units, and then fell in the following year.

In value terms, lighting equipment for motor vehicles imports contracted modestly to $23.2B in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +17.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. As a result, imports reached the peak of $23.3B, leveling off in the following year.

Imports By Country

In 2022, the United States (425M units) represented the major importer of electrical lighting or visual signaling equipment for motor vehicles and cycles, comprising 28% of total imports. India (164M units) ranks second in terms of the total imports with an 11% share, followed by Germany (8.9%) and China (4.8%). Brazil (45M units), Spain (42M units), France (40M units), Italy (33M units), Colombia (29M units), the Netherlands (26M units) and Russia (24M units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +12.5% from 2012 to 2022. At the same time, India (+28.9%), Colombia (+15.6%), Spain (+10.7%), Italy (+10.2%), the Netherlands (+6.2%), China (+3.6%), France (+3.2%), Brazil (+2.4%) and Russia (+1.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +28.9% from 2012-2022. Germany experienced a relatively flat trend pattern. The United States (+14 p.p.) and India (+9.5 p.p.) significantly strengthened its position in terms of the global imports, while Germany saw its share reduced by -5.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($4.9B), Germany ($3.5B) and China ($1.9B) constituted the countries with the highest levels of imports in 2022, with a combined 44% share of global imports. Spain, France, Italy, Brazil, the Netherlands, India, Russia and Colombia lagged somewhat behind, together accounting for a further 14%.

In terms of the main importing countries, India, with a CAGR of +14.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Automotive lighting prevails in imports structure, finishing at 1.5B units, which was near 94% of total imports in 2022. It was distantly followed by electrical or battery operated lighting or visual signalling for bicycles (90M units), constituting a 5.8% share of total imports.

Automotive lighting was also the fastest-growing in terms of imports, with a CAGR of +5.7% from 2012 to 2022. Electrical or battery operated lighting or visual signalling for bicycles experienced a relatively flat trend pattern. Automotive lighting (+3.3 p.p.) significantly strengthened its position in terms of the global imports, while electrical or battery operated lighting or visual signalling for bicycles saw its share reduced by -3.3% from 2012 to 2022, respectively.

In value terms, automotive lighting ($22.7B) constitutes the largest type of electrical lighting or visual signaling equipment for motor vehicles and cycles imported worldwide, comprising 98% of global imports. The second position in the ranking was held by electrical or battery operated lighting or visual signalling for bicycles ($461M), with a 2% share of global imports.

From 2012 to 2022, the average annual growth rate of the value of automotive lighting imports stood at +6.0%.

Import Prices By Type

In 2022, the average import price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $15 per unit, standing approx. at the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 10%. Global import price peaked at $20 per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was automotive lighting ($16 per unit), while the price for electrical or battery operated lighting or visual signalling for bicycles totaled $5.1 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by bicycle lighting (+3.5%).

Import Prices By Country

In 2022, the average import price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $15 per unit, leveling off at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 10% against the previous year. Over the period under review, average import prices hit record highs at $20 per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($27 per unit), while India ($1.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

In 2022, global exports of electrical lighting or visual signaling equipment for motor vehicles and cycles declined to 2.2B units, with a decrease of -2% against 2021 figures. The total export volume increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 31% against the previous year. Over the period under review, the global exports hit record highs at 2.5B units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, lighting equipment for motor vehicles exports rose modestly to $24.7B in 2022. In general, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +20.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 18%. Over the period under review, the global exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

In 2022, China (779M units) was the largest exporter of electrical lighting or visual signaling equipment for motor vehicles and cycles, generating 35% of total exports. South Korea (244M units) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Mexico (7.8%), Japan (6.5%) and Taiwan (Chinese) (4.5%). The Czech Republic (73M units), the United States (71M units), Germany (61M units), the UK (58M units), Slovakia (49M units), Morocco (45M units), France (43M units) and India (41M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to lighting equipment for motor vehicles exports from China stood at +4.8%. At the same time, Morocco (+59.4%), South Korea (+18.5%), the UK (+12.7%), Mexico (+10.6%), Japan (+9.9%), India (+8.5%) and Slovakia (+3.5%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in the world, with a CAGR of +59.4% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, the United States (-4.2%), France (-6.3%), the Czech Republic (-6.7%) and Germany (-10.5%) illustrated a downward trend over the same period. While the share of South Korea (+8.4 p.p.), China (+7.4 p.p.), Mexico (+4.2 p.p.), Japan (+3.3 p.p.), Morocco (+2 p.p.) and the UK (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of France (-2.7 p.p.), the United States (-3 p.p.), the Czech Republic (-5 p.p.) and Germany (-7.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.9B), Germany ($3.1B) and Mexico ($2.6B) constituted the countries with the highest levels of exports in 2022, with a combined 39% share of global exports. Taiwan (Chinese), the United States, the Czech Republic, Slovakia, South Korea, France, Japan, the UK, Morocco and India lagged somewhat behind, together comprising a further 38%.

Morocco, with a CAGR of +48.2%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Automotive lighting dominates exports structure, resulting at 1.8B units, which was approx. 92% of total exports in 2022. It was distantly followed by electrical or battery operated lighting or visual signalling for bicycles (161M units), making up an 8.2% share of total exports.

Automotive lighting was also the fastest-growing in terms of exports, with a CAGR of +1.4% from 2012 to 2022. electrical or battery operated lighting or visual signalling for bicycles (-1.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of automotive lighting increased by +2.6 percentage points.

In value terms, automotive lighting ($23.6B) remains the largest type of electrical lighting or visual signaling equipment for motor vehicles and cycles supplied worldwide, comprising 98% of global exports. The second position in the ranking was held by electrical or battery operated lighting or visual signalling for bicycles ($559M), with a 2.3% share of global exports.

For automotive lighting, exports increased at an average annual rate of +5.8% over the period from 2012-2022.

Export Prices By Type

In 2022, the average export price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $11 per unit, surging by 4% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lighting equipment for motor vehicles export price decreased by -1.0% against 2020 indices. The pace of growth was the most pronounced in 2015 an increase of 32% against the previous year. The global export price peaked at $11 per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was automotive lighting ($13 per unit), while the average price for exports of electrical or battery operated lighting or visual signalling for bicycles stood at $3.5 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by bicycle lighting (+7.9%).

Export Prices By Country

The average export price for electrical lighting or visual signaling equipment for motor vehicles and cycles stood at $11 per unit in 2022, increasing by 4% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lighting equipment for motor vehicles export price decreased by -1.0% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the average export price increased by 32% against the previous year. The global export price peaked at $11 per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($50 per unit), while South Korea ($3.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+18.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform