Automotive Illuminated Grille Market Insight: CAGR is Projected to 50.3%

Automotive Illuminated Grille Market Summary

According to the new market research report “Global Automotive Illuminated Grille Market Report 2023-2029”, published by QYResearch, the global Automotive Illuminated Grille market size is projected to reach USD 1.21 billion by 2029, at a CAGR of 50.3% during the forecast period.

Automotive Illuminated Grille is an important part of the car, and the technology involved is also very high-end and advanced.

As the electrification of automobiles develops faster and faster, the air intake function of traditional grilles begins to weaken. In some new car companies, the grilles gradually disappear or become smaller. Some car companies also add interactive elements to the grille design. Digital elements with mainly decorative functions, Automotive Illuminated Grilles emerged at the historic moment.

Automotive illuminated grilles can personalize the front face of the car and increase the recognition of the car brand. Especially at night, the luminous grille can play a lighting role, making the front face more technological and making the entire vehicle look cooler. Starting in 2019, high-end car manufacturers such as BMW adopted Automotive Illuminated Grille in their models, setting a precedent for the market. With the continuous advancement of technology, the Automotive Illuminated Grille market shows broad prospects and is expected to expand to more automobile manufacturers and models, covering the high-end to mid-low-end markets.

• Global Automotive Illuminated Grille MarketSize(US$ Million), 2018-2029

Based on or includes research from QYResearch: Global Automotive Illuminated Grille Market Report 2023-2029.

Market Drivers:

Driver 1: Industrial Policy Encouragement

The automobile industry is a leading industry that maintains sustained, stable and healthy development of the national economy. It plays an important pillar role and is the key to the transformation and upgrading of industrial structures in various countries. Countries have successively introduced a series of support and encouragement policies to provide policy guarantees for the development of the automobile industry and the upstream auto parts industry.

Driver 2: Increasing Income

Per capita disposable income is a long-term factor affecting automobile lighting grille consumption. With the rapid development of the national economy, the per capita disposable income of residents has shown a steady upward trend year by year, laying a solid foundation for the growth of the automotive lighting grille consumer market. With the increase in per capita disposable income, residents' car consumption capacity will become stronger and stronger. Coupled with people's yearning for a better life, the demand for automotive lighting grilles will continue to increase in the future.

Driver 3:

Against the background of electrification, intelligence and the improvement of automobile consumption attributes, automobile models are iterating faster and new product function requirements are higher. The time cycle from planning to mass production of new car-making forces' R&D projects is gradually shortened. The development cycle of new vehicle models of vehicle manufacturers is shortened, and the requirements for R&D response of supporting component companies are higher. Auto parts manufacturers have also gradually increased investment in scientific research, improved technology, and continuously upgraded automobile lighting grilles. In the future, automotive illuminated grill will continue to be upgraded.

Restraint:

Restraint 1: Organic Growth in Existing Market

According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, reaching 97.3 million vehicles and 95.89 million vehicles respectively. By 2022, there will be 81.6 million cars worldwide. The development of the automobile industry has increased the demand for automobile lighting grilles. In the future, with the continuous development of the automotive industry, the automotive lighting grille industry has a bright future.

Restraint 2: New Application Scenarios

Lighting grille technology can use the entire car grille as lighting equipment, and can provide a variety of scene modes, such as autonomous driving mode, electric vehicle charging mode, welcome light mode, sound beat display, emergency warning light and other scenes, among the vehicles. It occasionally builds a bridge of communication between vehicles and pedestrians, and can also design different lighting patterns to show different effects.

Restraint 3: Product Advancement and Technological Innovation

Driven by the wave of advancements in automotive technology, the concept of smart cars is deeply rooted in the hearts of the people, and traditional air intake grilles are also transforming into digital grilles. The illuminated grille in the digital grille can be said to be the face of the new era of cars and an important component of brand recognition. After the illuminated grille was first conceptualized by new energy car companies, leading car companies have also successively applied it to new models, and have continued to make new breakthroughs in shape and function.

Opportunity:

Currently, leading automobile-related companies in various countries have entered the automotive lighting grille development track and accelerated the layout of the automotive lighting grille industry. However, due to the high cost of development and mass production of automotive light-emitting grilles, only well-known global suppliers are currently producing and supplying them. Currently, the main suppliers of automotive light-emitting grilles include Forvia – Hella、Changchun FAWSN Group、SRG Global.

• Automotive Illuminated Grille,Global Market Size, The TopThree Players Hold 84% of Overall Market

Based on or includes research from QYResearch: Global Automotive Illuminated Grille Market Report 2023-2029.

In 2022, the global top three Automotive Illuminated Grille players account for 84% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Automotive Illuminated Grille.

• Automotive Illuminated Grille,Global Market Size, Split by Product Segment

 Based on or includes research from QYResearch: Global Automotive Illuminated Grille Market Report 2023-2029.

In terms of product type, Human-Computer Interaction is the largest segment, hold a share of 97%.

• Automotive Illuminated Grille,Global Market Size, Split by ApplicationSegment

 Based on or includes research from QYResearch: Global Automotive Illuminated Grille Market Report 2023-2029.

In terms of product application, OEM is the largest application, hold a share of 89%.

• Automotive Illuminated Grille,Global Market Size, Split by Region

Based on or includes research from QYResearch: Global Automotive Illuminated Grille Market Report 2023-2029.

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