South Korea Automotive LED Lighting Market Size

The South Korea Automotive LED Lighting Market is experiencing significant growth, driven by the country's position as a major automobile producer and the increasing number of registered vehicles. Despite challenges such as higher traffic fatalities compared to developed nations, the South Korean government is actively enhancing traffic safety regulations and harmonizing them with international standards. This includes stringent automotive illumination laws under the Korea Motor Vehicle Safety Standard. The market's expansion is further fueled by innovations from key players in the industry, contributing to the overall increase in market size over the forecast period.

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Market Size of south korea automotive led lighting Industry

South Korea Automotive LED Lighting Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2030
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 493.10 Million
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2030) USD 848.75 Million
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Automotive Utility Lighting Headlights
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2030) 9.47 %
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Automotive Utility Lighting Directional Signal Lights

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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South Korea Automotive LED Lighting Market Analysis

The South Korea Automotive LED Lighting Market size is estimated at 493.10 million USD in 2024, and is expected to reach 848.75 million USD by 2030, growing at a CAGR of 9.47% during the forecast period (2024-2030).

493.10 Million

Market Size in 2024 (USD)

848.75 Million

Market Size in 2030 (USD)

16.96 %

CAGR (2017-2023)

9.47 %

CAGR (2024-2030)

Largest Segment by Automotive Utility Lighting

48.97 %

value share, Headlights, 2023

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The growing sales for two-wheelers and passenger vehicles across the country drives the growth of LED Headlights leading the expected to reach USD 228.3 million by 2023.

Largest Segment by Automotive Vehicle Lighting

90.19 %

value share, Passenger Cars, 2023

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With more than 20 million registered cars, the auto market has grown quantitatively as a result of the rise of both the domestic economy and the auto industry.

Fastest-growing Segment by Automotive Utility Lighting

9.48 %

Projected CAGR, Directional Signal Lights, 2024-2030

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The development of safety features increase demand for LED signal lights in passenger cars and 2-wheelers leading the expected sales to reach USD 68 million by 2023.

Fastest-growing Segment by Automotive Vehicle Lighting

9.98 %

Projected CAGR, 2 Wheelers, 2024-2030

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Increasing demand for electric 2-Wheelers and they were about 2.2 million two-wheeled vehicles registered as of 2021, up from about 2.1 million in 2015.

Leading Market Player

29.61 %

market share, Seoul Semiconductor Co., Ltd., Ltd.

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Seoul Semiconductor Co., Ltd. has the highest market share in South Korea. The company's developing optical semiconductor technologies, developing over 18,000 patented technologies and wide range of product offerings.

The market's growth is driven by upgrading domestic legislation to harmonize car safety regulations, including adding advanced lighting to decrease car accidents.

  • Korea continues to be the fifth-largest producer of automobiles in the world. With more than 20 million registered cars, the auto market has grown quantitatively due to the rise of both the domestic economy and the auto industry. However, Korea still trails behind developed nations in the frequency of fatalities and accidents involving motor vehicles.
  • In light of the situation, the Korean government established extensive steps to lower traffic fatalities and has implemented cross-ministry initiatives to confront the challenge. In this regard, the government is committed to upgrading domestic legislation to meet the nation's traffic settings better while also harmonizing domestic car safety regulations with international ones.
  • A safety requirement for cars is the Korea Motor Vehicle Safety Standard (KMVSS), which the Korean government upholds. Laws governing automotive illumination are also included. The purpose of the South Korean Motor Vehicle Management Act is to effectively manage motor vehicles, ensure their functionality, and ensure their safety by outlining the requirements for registration, safety standards, self-authentication, the correction of manufacturing flaws, inspection, maintenance, testing, and motor vehicle management businesses, among other things, and thereby help to advance public welfare.
  • Companies like Hyundai Mobis, Hella, Valeo, Stanley Electric, and others are involved in the nation's innovation market. In 2019, Valeo unveiled the 4,000-pixel Valeo PictureBeam Monolithic headlamp, which not only lights the road ahead but also enables the driver to remain on full-beam continually without dazzling other drivers, pedestrians, or cyclists. These innovations are driving the market for LED lights in the country.
South Korea Automotive LED Lighting Market

South Korea Automotive LED Lighting Industry Segmentation

Daytime Running Lights (DRL), Directional Signal Lights, Headlights, Reverse Light, Stop Light, Tail Light, Others are covered as segments by Automotive Utility Lighting. 2 Wheelers, Commercial Vehicles, Passenger Cars are covered as segments by Automotive Vehicle Lighting.

  • Korea continues to be the fifth-largest producer of automobiles in the world. With more than 20 million registered cars, the auto market has grown quantitatively due to the rise of both the domestic economy and the auto industry. However, Korea still trails behind developed nations in the frequency of fatalities and accidents involving motor vehicles.
  • In light of the situation, the Korean government established extensive steps to lower traffic fatalities and has implemented cross-ministry initiatives to confront the challenge. In this regard, the government is committed to upgrading domestic legislation to meet the nation's traffic settings better while also harmonizing domestic car safety regulations with international ones.
  • A safety requirement for cars is the Korea Motor Vehicle Safety Standard (KMVSS), which the Korean government upholds. Laws governing automotive illumination are also included. The purpose of the South Korean Motor Vehicle Management Act is to effectively manage motor vehicles, ensure their functionality, and ensure their safety by outlining the requirements for registration, safety standards, self-authentication, the correction of manufacturing flaws, inspection, maintenance, testing, and motor vehicle management businesses, among other things, and thereby help to advance public welfare.
  • Companies like Hyundai Mobis, Hella, Valeo, Stanley Electric, and others are involved in the nation's innovation market. In 2019, Valeo unveiled the 4,000-pixel Valeo PictureBeam Monolithic headlamp, which not only lights the road ahead but also enables the driver to remain on full-beam continually without dazzling other drivers, pedestrians, or cyclists. These innovations are driving the market for LED lights in the country.
Automotive Utility Lighting
Daytime Running Lights (DRL)
Directional Signal Lights
Headlights
Reverse Light
Stop Light
Tail Light
Others
Automotive Vehicle Lighting
2 Wheelers
Commercial Vehicles
Passenger Cars
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South Korea Automotive LED Lighting Market Size Summary

The South Korea Automotive LED Lighting Market is poised for significant growth, driven by the country's robust automotive production and technological advancements. As the fifth-largest automobile producer globally, South Korea's auto market has expanded due to a thriving domestic economy. However, the nation faces challenges with traffic safety, prompting government initiatives to enhance vehicle safety standards, including those related to automotive lighting. The Korea Motor Vehicle Safety Standard (KMVSS) plays a crucial role in this regard, ensuring that vehicles meet stringent safety and illumination requirements. The market is characterized by the presence of major players such as Hyundai Mobis, Hella, Valeo, and Stanley Electric, who are at the forefront of innovation, introducing advanced lighting solutions like the Valeo PictureBeam Monolithic headlamp.

The shift towards electric vehicles (EVs) and smart technology is further propelling the demand for LED lighting in South Korea's automotive sector. Government initiatives to increase EV adoption, supported by substantial investments, are expected to significantly boost the use of LED lighting. The expansion of EV infrastructure, including the deployment of streetlamp chargers in Seoul, underscores the growing integration of LED technology in the automotive industry. The market is moderately consolidated, with key players holding a significant share, and continues to evolve with advancements in lighting technology, such as HELLA's FlatLight and Black Magic series. These developments are indicative of the market's dynamic nature and its alignment with global trends in automotive safety and sustainability.

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South Korea Automotive LED Lighting Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Automotive Utility Lighting

      1. 1.1.1 Daytime Running Lights (DRL)

      2. 1.1.2 Directional Signal Lights

      3. 1.1.3 Headlights

      4. 1.1.4 Reverse Light

      5. 1.1.5 Stop Light

      6. 1.1.6 Tail Light

      7. 1.1.7 Others

    2. 1.2 Automotive Vehicle Lighting

      1. 1.2.1 2 Wheelers

      2. 1.2.2 Commercial Vehicles

      3. 1.2.3 Passenger Cars

South Korea Automotive LED Lighting Market Size FAQs

The South Korea Automotive LED Lighting Market size is expected to reach USD 493.10 million in 2024 and grow at a CAGR of 9.47% to reach USD 848.75 million by 2030.

In 2024, the South Korea Automotive LED Lighting Market size is expected to reach USD 493.10 million.

South Korea Automotive LED Lighting Market Report Snapshots