India Automotive Lighting Market Share & Forecast, 2022-2028
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting , revealed that the India automotive lighting market was worth USD 2.9 billion in the year 2021. The market is projected to grow at a CAGR of 5.5% from 2022-2028 (forecast period), earning revenues of around USD 4.3 billion by the end of 2028. The market is booming owing to the rising adoption of advanced technologies driven by improved safety features to promote market growth. Additionally, stricter government lighting regulations for better visibility and safety are predicted to accelerate market growth substantially. Furthermore, rising living standards and much more disposable income of the consumers in India combined with the increased research and development(R&D) activities that improve safety standards and quality of automotive lighting are driving the Indian automotive lighting market. Increasing Automobile Sales in India Boosting Automotive ...