Analytical Study of Automotive Lighting in Korea from 2023 to 2033
The sales of automotive lighting in Korea is predicted to expand at a sluggish CAGR of 2.4% through 2033. The automotive lighting industry in Korea is predicted to experience remunerative opportunities, with an estimated revenue generation of US$ 1,279.0 million by 2033, up from US$ 1,007.8 million in 2023.
Key providers of automotive lighting solutions in Korea are expected to build premium brand awareness by constructing a business structure that is future-oriented. In addition to this, players in Korea are attempting to draw a wider customer base over the next decade. They aim to achieve this by establishing a comparative advantage over competitors for consistent sales growth. Companies are also working toward discovering and nurturing future-oriented technologies to advance the automotive lighting industry in Korea.
Industry players are also developing LED lamps that match the changing demand for cars. The boon of using LEDs in automobiles includes energy saving and improved light efficiency. Automakers are overcoming the limitations associated with automobile interior lamps by introducing ultra-compact products. In the following years, research and development activities by automotive lighting manufacturers are expected to bring about new innovations to Korea.
Attributes
Details
Industry Size of Automotive Lighting in Korea (2023)
US$ 1,007.8 million
Expected Industry Size of Automotive Lighting in Korea (2033)
US$ 1,279.0 million
Forecast CAGR between 2023 to 2033
2.4%
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Top Trends Inducing Sales of Automotive Lighting in Korea
Considerably higher traffic fatality rate in Korea, owing to factors like frequent lane changes, excessive speed, running red lights, and weaving motorcyclists, is creating significant prospects for automotive safety equipment like automotive lighting in Korea.
Increasing efforts to improve road safety in Korea are propelling the national government and municipal cooperation to prioritize financial self-sufficiency for the effective implementation of road safety measures.
The rising car ownership, coupled with an increasing population of elderly pedestrians in Korea, is making a compelling case for the adequate adoption of automotive lighting by automotive makers.
Surging efforts by leading companies in Korea to research and develop improved and more functional versions of lighting equipment in vehicles are worth mentioning.
The rising construction activities in Korea, coupled with the transportation of machinery and materials, are boosting the sales of light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs), consequently increasing the demand for automotive lighting solutions in the country.
Korea is considered a top consumer when it comes to vehicle electrification. Increasing adoption of electric vehicles (EVs) that have aesthetic appeal and advanced functionalities powered by latest technologies like safety sensors, is projected to create a positive environment for automotive lighting makers.
Comparative View of Adjacent Automotive Lighting in Key Markets
The following table provides a quick glimpse into the purchase trends for automotive lighting in three geographical territories: Korea, Japan, and Western Europe. On the valuation front, Western Europe takes the top position by garnering revenue worth US$ 7,812.0 million in 2023. The same region is projected to account for a higher adoption of automotive lighting solutions throughout the forecast period.
The increasing integration of safety sensors and other latest technologies in lighting systems is propelling the growing demand for automotive lighting solutions in Western Europe. Additionally, the inclination toward a luxury lifestyle is catalyzing sales of premium cars in the developed countries of Western Europe. The accelerating sales of luxury vehicles, in turn, are driving the demand growth for automotive lighting. Western Europe is followed by Japan, both in terms of CAGR and sales valuation.
Industry Analysis of Automotive Lighting in Korea:
Attributes
Industry Analysis of Automotive Lighting in Korea
Korea’s CAGR between 2023 to 2033
2.4%
Industry Size of Korea in 2023
US$ 1,007.8 million
Key Trend
Shift toward LED lighting technology due to its energy efficiency and design flexibility
Key Opportunity
Opportunity to offer aftermarket LED conversion kits and personalized lighting options
Industry Analysis of Automotive Lighting in Japan:
Attributes
Industry Analysis of Automotive Lighting in Japan
Japan’s CAGR between 2023 to 2033
3.9%
Industry Size of Japan in 2023
US$ 2,633.7 million
Key Trend
Adoption of advanced lighting technologies like laser headlights and OLED displays
Key Opportunity
Development of customized lighting solutions for new vehicle models.
Industry Analysis of Automotive Lighting in Western Europe:
Attributes
Industry Analysis of Automotive Lighting in Western Europe
Western Europe’s CAGR between 2023 to 2033
5.3%
Industry Size of Western Europe in 2023
US$ 7,812.0 million
Key Trend
Emphasis on eco-friendly lighting solutions to meet regulatory and environmental standards
Key Opportunity
Development of specialized lighting solutions to complement EV designs and functionality
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Category-wise Insights
Increasing Ownership of Passenger Cars Propelling Sales of Automotive Lighting Solutions
Leading Vehicle
Passenger Cars
Value Share (2023)
74.7%
The passenger cars segment is estimated to account for a value share of 74.7% in 2023. The following factors are augmenting passenger car manufacturers to invest in automotive lighting:
Surging demand for customized exterior and interior lighting and design systems in passenger vehicles.
Robust sales of passenger vehicles in Korea, backed by increasing purchasing power and lifestyle shifts, are catalyzing demand for automotive lighting in Korea.
The increasing shift from public to private vehicles, as more customers in Korea have the means and willingness to own cars.
Elevated Demand for Headlights Significantly Pushing up the Overall Revenue
Leading Application Segment
Headlights
Value Share (2023)
59.3%
The headlights segment is expected to occupy a value share of 59.3% in 2023. Given below are the leading factors yielding growth in this segment:
Heightened use of headlights as a critical component of the safety system and aesthetic design of premium automobiles.
The essential use of headlights in low-visibility conditions and at night is propelling the sales of headlights.
The increasing use of headlights to avoid accidents, navigate difficult terrain safely, and assist drivers in staying right on track and adhering to traffic laws, is contributing to the segment's growth.
Automotive Lighting Manufacturers are Strengthening their Grip in Korea
Key providers of automotive lighting in Korea are providing a complete range of automotive lighting, including interior lighting, adaptive lighting systems, and LED headlights. These players are investing substantial funds to ramp up their manufacturing capabilities. Industry participants are also developing innovative and sophisticated products to raise their presence in the automotive lighting industry. Additionally, they are opting for mergers and acquisitions to widen their reach and customer base.
Companies are implementing research and development activities to introduce new lighting innovations in Korea. In line with this, industry players are funding the integration of new technologies to improve the visibility and capabilities of automotive lighting.
Key Developments Noticed in the Automotive Lighting Industry in Korea
In May 2023, LG Innotek developed flexible automotive lighting called Nexlide-M, targeting the luxury car segment. The company used a flexible resin material that easily bends to mount on vehicles in different configurations, such as rear combination lamps and running lights.
In August 2023, LG Magna ePowertrain, an EV parts joint venture between Canada’s Magnet International and Korea’s LG Electronics, continues to make significant investments in overseas factories in Mexico and China.
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Key Providers of Automotive Lighting in Korea
LG Innotek
Samsung Electronics
Seoul Semiconductor
DH Lighting
Namyung Lighting
Backsan LNT
ANYLUX
DSE CO.
KOREA LED AND EQUIPMENT
HWASHIN KOREA
LX Pantos Logistics
Seino Logix
Scope of the Automotive Lighting Report Focusing on Trends in Korea
Attribute
Details
Estimated Industry Size in 2023
US$ 1,007.8 million
Projected Industry Size by 2033
US$ 1,279.0 million
Anticipated CAGR between 2023 to 2033
2.4% CAGR
Historical Analysis of Demand for Automotive Lighting in Korea
2018 to 2022
Demand Forecast for Automotive Lighting in Korea
2023 to 2033
Report Coverage
Industry Size, Industry Trends, Analysis of Key Factors Influencing Automotive Lighting Adoption in Korea, Insights on Korea Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers
Key Companies Profiled
LG Innotek
Samsung Electronics
Seoul Semiconductor
DH Lighting
Namyung Lighting
Backsan LNT
ANYLUX
DSE CO.
KOREA LED AND EQUIPMENT
HWASHIN KOREA
LX Pantos Logistics
Seino Logix
Key Segments Profiled in the Korea Automotive Lighting Industry Survey
By Application:
Front Headlights
Fog Lights
Rear Lights
Side Lights
Interior Lights
By Vehicle Type:
Passenger Cars
Compact
Mid
Luxury
SUVs
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
Battery Electric
Plug-in Hybrid Electric
Hybrid Electric
Two Wheelers
Motorcycles
Scooters
By Light Source:
Halogen
LED
Xenon
By Sales Channel:
OEM
Aftersales
Key Cities/Provinces:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
At what Rate is the Automotive Lighting Industry Growing in Korea?
The anticipated CAGR for the automotive lighting industry in Korea through 2033 is 2.4%.
How Big will the Automotive Lighting Industry be in Korea?
The demand for automotive lighting in Korea is likely reach US$ 1,279.0 million by 2033.
What are the Key Strategies of Manufacturers of Automotive Lighting in Korea?
Investment in research and innovations is expected to drive future growth.
Which Vehicle Type is Contributing to the Rising Sales of Automotive Lighting?
Passenger car are accounting for significant sales of automotive lighting in Korea.
Which Application Area Contributes Significantly to the Automotive Lighting Industry in Korea?
Headlights are likely to remain a key supporter of automotive lighting businesses’ revenue.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033
5.3.1. Front Headlights
5.3.2. Fog Lights
5.3.3. Rear Lights
5.3.4. Side Lights
5.3.5. Interior Lights
5.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Vehicle Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Vehicle Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Vehicle Type, 2023 to 2033
6.3.1. Passenger Cars
6.3.1.1. Compact Cars
6.3.1.2. Mid-Size Cars
6.3.1.3. Luxury Cars
6.3.1.4. SUVs
6.3.2. LCVs
6.3.3. HCVs
6.3.4. Electric Vehicles
6.3.4.1. BEV
6.3.4.2. PHEV
6.3.4.3. HEV
6.3.5. Two Wheelers
6.3.5.1. Motorcycles
6.3.5.2. Scooters
6.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Vehicle Type, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Light Source
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Light Source, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Light Source, 2023 to 2033
7.3.1. Halogen
7.3.2. LEDs
7.3.3. Xenon
7.4. Y-o-Y Growth Trend Analysis By Light Source, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Light Source, 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Sales Channel, 2018 to 2022
8.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Sales Channel, 2023 to 2033
8.3.1. OEM
8.3.2. Aftermarket
8.4. Y-o-Y Growth Trend Analysis By Sales Channel, 2018 to 2022
8.5. Absolute $ Opportunity Analysis By Sales Channel, 2023 to 2033
9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
9.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
9.3.1. South Gyeongsang
9.3.2. North Jeolla
9.3.3. South Jeolla
9.3.4. Jeju
9.3.5. Rest of Korea
9.4. Market Attractiveness Analysis By Region
10. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Application
10.2.2. By Vehicle Type
10.2.3. By Light Source
10.2.4. By Sales Channel
10.3. Market Attractiveness Analysis
10.3.1. By Application
10.3.2. By Vehicle Type
10.3.3. By Light Source
10.3.4. By Sales Channel
10.4. Key Takeaways
11. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Application
11.2.2. By Vehicle Type
11.2.3. By Light Source
11.2.4. By Sales Channel
11.3. Market Attractiveness Analysis
11.3.1. By Application
11.3.2. By Vehicle Type
11.3.3. By Light Source
11.3.4. By Sales Channel
11.4. Key Takeaways
12. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Application
12.2.2. By Vehicle Type
12.2.3. By Light Source
12.2.4. By Sales Channel
12.3. Market Attractiveness Analysis
12.3.1. By Application
12.3.2. By Vehicle Type
12.3.3. By Light Source
12.3.4. By Sales Channel
12.4. Key Takeaways
13. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Application
13.2.2. By Vehicle Type
13.2.3. By Light Source
13.2.4. By Sales Channel
13.3. Market Attractiveness Analysis
13.3.1. By Application
13.3.2. By Vehicle Type
13.3.3. By Light Source
13.3.4. By Sales Channel
13.4. Key Takeaways
14. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Application
14.2.2. By Vehicle Type
14.2.3. By Light Source
14.2.4. By Sales Channel
14.3. Market Attractiveness Analysis
14.3.1. By Application
14.3.2. By Vehicle Type
14.3.3. By Light Source
14.3.4. By Sales Channel
14.4. Key Takeaways
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Application
15.3.3. By Vehicle Type
15.3.4. By Light Source
15.3.5. By Sales Channel
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. SL Corporation
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. Seoul Semiconductor
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Stanley & Partners Co., Ltd
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Infineon Technologies AG
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. Hyundai Mobi
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. ZKW Group
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. Fiem Industries
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Odelo GmbH
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Vosla GmbH
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. Lumax Auto Technologies Ltd
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
17. Assumptions & Acronyms Used18. Research Methodology
