The Automotive Lighting market in the U.S. is estimated at US$7.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.9 Billion by the year 2027 trailing a CAGR of 9.1% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 5.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
In the global LED segment, USA, Canada, Japan, China and Europe will drive the 6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.3 Billion in the year 2020 will reach a projected size of US$7.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.7 Billion by the year 2027, while Latin America will expand at a 7.8% CAGR through the analysis period. We bring years of research experience to this 7th