Automotive Lighting Industry Analysis in Korea

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 USD 1,279.0 million by 2033, up from USD 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)	USD 1,007.8 million
Expected Industry Size of Automotive Lighting in Korea (2033)	USD 1,279.0 million
Forecast CAGR between 2023 to 2033	2.4%

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.

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.

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	USD 1,007.8 million
Projected Industry Size by 2033	USD 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.