Market Size of spain automotive led lighting Industry
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 397.57 Million |
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Market Size (2030) | USD 518.71 Million |
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Largest Share by Automotive Utility Lighting | Headlights |
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CAGR (2024 - 2030) | 4.53 % |
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Fastest Growing by Automotive Utility Lighting | Reverse Light |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Spain Automotive LED Lighting Market Analysis
The Spain Automotive LED Lighting Market size is estimated at 397.57 million USD in 2024, and is expected to reach 518.71 million USD by 2030, growing at a CAGR of 4.53% during the forecast period (2024-2030).
397.57 Million
Market Size in 2024 (USD)
518.71 Million
Market Size in 2030 (USD)
-2.20 %
CAGR (2017-2023)
4.53 %
CAGR (2024-2030)
Largest Segment by Automotive Utility Lighting
62.53 %
value share, Headlights, 2023
Automotives need to meet the safety approval of motor vehicle headlamps emitting an asymmetrical passing beam modules as per Regulation No 112.
Largest Segment by Automotive Vehicle Lighting
77.61 %
value share, Passenger Cars, 2023
The total sales of LEDs in this category is expected to reach USD 315.2 million by 2023. Spanish electric vehicle sales in 2022 increased to 100,425 units, up 21% from 2021.
Fastest-growing Segment by Automotive Utility Lighting
4.55 %
Projected CAGR, Reverse Light, 2024-2030
The expansion EVs with automotive LED technologies expected to drive the LED reversing lights demand in the country, leading the expected sales to reach USD 7.6 million by 2023.
Fastest-growing Segment by Automotive Vehicle Lighting
4.74 %
Projected CAGR, Passenger Cars, 2024-2030
Growing car registrations, increasing investments in EV manufacturing facilities resulted in German market recovery and registered 25.7% growth rate in car registrations.
Leading Market Player
6.35 %
market share, Marelli Holdings Co., Ltd., Ltd.
Marelli Holdings Co., Ltd has the highest market share in Spain. As of 2022 registrations, Peugeot and Mercedes ranked at 5th and 10th position respectively in Spain.
Rising accidents due to bad lighting and the growing demand for EVs drive the market growth
- In terms of value, in 2022, headlights accounted for the majority of the share, followed by others, directional signal lights, stop lights, taillights, and daytime running lights. The market share is expected to remain the same for headlights, directional signal lights (DSLs), daytime running lights (DRLs), reversing lights, taillights, and stop lights during the forecast period, with a small reduction in other kind types. With the rising accident trend, the penetration rate of LED lamps is anticipated to rise. In 2022, 833 people died in traffic accidents, 73% of the total, with 312 deaths occurring on dual carriageways and highways, or 27% of the total. Out of every four fatalities, three happened on regular roads, and one happened on a highway or dual carriageway. Road accidents, which made up 42% of all fatal incidents, caused close to half of all fatalities. When compared to 2019, the number of fatalities in this kind of accident increased by 13% in 2022.
- In terms of expansion and innovations, Spain is one of the most significant auto-producing nations in the world. The total vehicle production increased from 2.09 million in 2021 up to 2.22 million in 2022. The increase in domestic vehicle production resulted in an increase in the requirement for LED Lights.
- The key automotive manufacturers in the market are focusing on expanding electric vehicles in the market. In June 2023, Tesla plans to build a new EV plant in Spain with an investment of around EUR 4.5 billion (USD 4.84 billion), as Spain is Europe's second-largest car producer. Thus, the growth in NEVs would increase the penetration of automotive LEDs in the market.
Spain 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.
- In terms of value, in 2022, headlights accounted for the majority of the share, followed by others, directional signal lights, stop lights, taillights, and daytime running lights. The market share is expected to remain the same for headlights, directional signal lights (DSLs), daytime running lights (DRLs), reversing lights, taillights, and stop lights during the forecast period, with a small reduction in other kind types. With the rising accident trend, the penetration rate of LED lamps is anticipated to rise. In 2022, 833 people died in traffic accidents, 73% of the total, with 312 deaths occurring on dual carriageways and highways, or 27% of the total. Out of every four fatalities, three happened on regular roads, and one happened on a highway or dual carriageway. Road accidents, which made up 42% of all fatal incidents, caused close to half of all fatalities. When compared to 2019, the number of fatalities in this kind of accident increased by 13% in 2022.
- In terms of expansion and innovations, Spain is one of the most significant auto-producing nations in the world. The total vehicle production increased from 2.09 million in 2021 up to 2.22 million in 2022. The increase in domestic vehicle production resulted in an increase in the requirement for LED Lights.
- The key automotive manufacturers in the market are focusing on expanding electric vehicles in the market. In June 2023, Tesla plans to build a new EV plant in Spain with an investment of around EUR 4.5 billion (USD 4.84 billion), as Spain is Europe's second-largest car producer. Thus, the growth in NEVs would increase the penetration of automotive LEDs in the market.
| 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 |
Spain Automotive LED Lighting Market Size Summary
The Spain Automotive LED Lighting Market is poised for significant growth, driven by the increasing adoption of LED technology in vehicles. This growth is supported by the country's robust automotive production capabilities, being one of the leading auto-producing nations globally. The market is characterized by a strong demand for headlights, directional signal lights, and daytime running lights, which are expected to maintain their dominance in the market share. The rise in road accidents has further propelled the penetration of LED lamps, as they are known to enhance vehicle visibility and safety. The market's expansion is also fueled by the growing focus on electric vehicles, with major manufacturers like Tesla planning substantial investments in EV production facilities in Spain. This shift towards electric vehicles is anticipated to boost the demand for automotive LEDs, aligning with the broader trend of increasing vehicle electrification.
The automotive industry in Spain has shown resilience and adaptability, particularly in the wake of challenges posed by the COVID-19 pandemic, which had a significant impact on car production and exports. Government initiatives, such as stimulus programs and the establishment of low-emission zones, are aimed at revitalizing the sector and promoting the adoption of low-emission vehicles. These efforts are expected to drive the demand for LED lighting in automobiles. The market is fragmented, with key players like GRUPO ANTOLIN IRAUSA, S.A., HELLA GmbH & Co. KGaA, Marelli Holdings Co., Ltd., OSRAM GmbH, and Stanley Electric Co., Ltd. leading the charge in innovation and expansion. Recent advancements, such as HELLA's introduction of new lightbar technologies and the production of chip-based headlamp technologies, underscore the dynamic nature of the market and its readiness to meet the evolving demands of the automotive industry.
Spain Automotive LED Lighting Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Automotive Utility Lighting
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1.1.1 Daytime Running Lights (DRL)
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1.1.2 Directional Signal Lights
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1.1.3 Headlights
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1.1.4 Reverse Light
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1.1.5 Stop Light
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1.1.6 Tail Light
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1.1.7 Others
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1.2 Automotive Vehicle Lighting
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1.2.1 2 Wheelers
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1.2.2 Commercial Vehicles
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1.2.3 Passenger Cars
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Spain Automotive LED Lighting Market Size FAQs
How big is the Spain Automotive LED Lighting Market?
The Spain Automotive LED Lighting Market size is expected to reach USD 397.57 million in 2024 and grow at a CAGR of 4.53% to reach USD 518.71 million by 2030.
What is the current Spain Automotive LED Lighting Market size?
In 2024, the Spain Automotive LED Lighting Market size is expected to reach USD 397.57 million.
