Report ID: SQMIG20D2168
Automotive LED Drivers Market Size, Share, Growth Analysis, By Application(Interior Lighting, Exterior Lighting, Dashboard Lighting), By Type(Constant Current, Constant Voltage, Hybrid.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20D2168 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|
Tables:
63 |
Figures:
76
Automotive LED Drivers Market Regional Insights
With a revenue share of 44.4% in 2021, Asia Pacific dominated the market for LED drivers. From 2022 to 2030, the market is projected to grow at a CAGR of more than 23.9%. Government subsidies, an increase in the use of LED lighting, and improved manufacturing facilities in the area are all responsible for the region's rise. In March 2021, the Indian government introduced the GRAMME UJALA programmer, which will offer LED lights to rural communities for just Rs. 10 each. Rural consumers can receive 7-watt and 12-watt LED lights with a three-year warranty if they send in functional incandescent bulbs. Additionally, the Indian government distributed 36.78 crore INR worth of LED lights all around the country
The fastest-growing and dominant segment in this region is expected to be the interior lighting segment, with a CAGR of over 14%. The European region is expected to witness significant growth in the automotive LED driver market during the forecast period due to the increasing demand for energy-efficient and sustainable lighting solutions in vehicles.
Automotive LED Drivers Market Report Snapshots
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