Adaptive Headlights Market Overview
In its research report, Market Research Future (MRFR), emphasizes that the global adaptive headlights market 2020 is slated to grow exponentially over the review period, securing a substantial market valuation of USD 3 Billion by 2027 and a healthy 8% CAGR over the review period.
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Competitive Analysis
The major market players operating in the global market as acknowledged by MRFR are HELLA KGaA Hueck Co. (Germany), Koito Manufacturing Co., Ltd (Japan), Magneti Marelli (Italy), Stanley Electric (Japan), North American Lighting ( US), Varroc Lighting Systems (US), Zizala Lichtsysteme GmbH (Austria), OSRAM Licht AG (Germany), Valeo Group (France), SL Corporation (South Korea), Johnson Electric Holdings Limited (China), General Electric Company (US ), ZKW Group (Austria), Stanley Electric Co. Ltd. (Japan), and KOITO MANUFACTURING CO., LTD (Japan)
Drivers and Restraints
The increase in the demand and sale of electric vehicles, the increasing adoption of the automation system for adaptive headlights and the increasing focus on improving the safety and efficiency of adaptive headlights are factors which are set to drive market growth. Demand for passenger cars, growing urban population, and global auto-manufacturers' market expansion strategy into new emerging markets, increasing demand for Volvo adaptive headlights, and expanding middle-class disposable income are key drivers of market growth. It is anticipated that the substantial increase in demand for environmentally friendly cars, smart headlights, expansion of global car manufacturers into new emerging markets and increased acceptance of advanced vehicle technology would generate opportunities for players on the global market during the forecast era. However, the high prices of adaptive headlights, underdeveloped aftermarket services and strict regulations are expected to hamper the growth of the market size of the global automotive adaptive headlights over the projected timeframe. Technological advancements in innovative headlights, growing lifestyles and developing economies create ample opportunities for this market to develop and grow.
Segmental Analysis
The global adaptive headlights market is segmented based on type, vehicle type, sales channel, and region. By type, the market is segmented as Xenon, LED, and Halogen. By vehicle type, the market is bifurcated as commercial vehicle and passenger car. By sales channel, the global market has been divided into OEM and aftermarket.
Regional Analysis
The global market geographic overview was conducted in four major regions including Asia Pacific, North America, Europe and the rest of the world.
Asia-Pacific accounted for the largest demand for adaptive automotive lighting led by Europe and North America among the regions covered. The key factors expected to drive Asia-Pacific's automotive adaptive lighting market are rising sales of new vehicles, concentrating on automotive lighting research and development, and growing aftermarket adaptive headlights service across the region.
Owing to the presence of major automotive OEMs such as BMW and Audi, Europe is expected to rise significantly during the forecast era. In addition, automotive safety and tight regulations on vehicle emissions have resulted in the demand for adaptive led headlights and adaptive driving beam across the country, which in turn drives market development. The main contributor to this sector are countries such as Germany, France and Spain.
North America is the third largest automotive adaptive headlights market, and is expected to expand significantly over the forecast period. Owing to the involvement of giants in the automotive adaptive headlights industry, such as North American Lighting and General Electric Company, North America witnesses one of the highest output of adaptive LEDs and adaptive driving beam headlights. Growing demand for adaptive headlights cars has also increased the market in North America.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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