Report provides Automotive Adaptive Lighting Global Market Historic, Forecast data, business development strategies, SWOT analysis, And Key Company Insights with forecast to 2023. Global Automotive Adaptive Lighting Market Is Predicted To Reach USD 2,795.7 Million By 2023.
The prominent players in the automotive adaptive lighting market include HELLA KGaA Hueck & Co. (Germany), Koito Manufacturing Co., Ltd (Japan), Magneti Marelli (Italy), Stanley Electric (Japan), North American Lighting (U.S.) Varroc Lighting Systems (U.S.), Zizala Lichtsysteme GmbH (Austria), OSRAM Licht AG, Valeo Group (France), and SL Corporation (South Korea).
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Market Highlights:
This study provides an overview of the global automotive adaptive lighting market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next 6 years for each region. The scope of the study segments the global automotive adaptive lighting market by its technology, vehicle type, end market and regions.
The global automotive adaptive lighting market has been largely benefiting from the changing paradigms in government regulations and end-users perspective towards enhanced safety in automobiles. In spite of a turbulence caused by the global economic slowdown of 2008, the automotive market gained back the pre-crisis annual growth rate after 2014. With several driving trends such as growing demand of passenger vehicles, growing urban population, expansion of global auto-manufacturers into new emerging markets, and rising disposable income of middle class population. The global automotive adaptive lighting market is poised to grow over USD 2,795.7 million by 2023 at an estimated CAGR of 8.18% through the forecast period.
With the global economy undergoing an unprecedented level of shift, major emerging countries such as China, India, Thailand, and Indonesia, among others are becoming manufacturing hubs for global automotive players. As a result of increasing prosperity in the emerging economies, more and more people are able to afford their own car, particularly in emerging Asian economies such as China and India. In order to tap these rising consumer automobile preferences, leading global automotive players such as Volkswagen, BMW, Toyota, and Ford, among others are entering into new emerging markets for business expansion. As the global auto-manufacturers continue to expand into growing and emerging markets, the demand for automotive adapting lighting and other lightings will also rise.
Market Segments Analysis:
The market has been segmented based on technology, vehicle type and end market. On the basis of technology the market is segmented by Halogen, LED, and Xenon. LED, by technology segment is expected to dominate the global adaptive lighting market due to the decreasing cost, easily availability and the longer life. On the basis of vehicle type, it is segmented into Passenger vehicle and Commercial vehicle. Passenger vehicles accounted the largest market share for global automotive adaptive lighting market. Rising demand of passenger car among large pool of population, expansion of global auto-manufacturers into new emerging markets acts as a major factor for the growth of this segment whereas, the end market has been segmented into OEMs and aftermarket.
Regional Analysis:
The global automotive adaptive lighting market by region has been segmented into North America, Europe, Asia-Pacific and Rest of the world. This market has seen a substantial growth over the past few years and it has been experienced that the market will remain on the same growth level till forecast period.
Among the regions covered, Europe has accounted the largest market for automotive adaptive lighting market followed by Asia-Pacific and North America. Major factors that have driven the automotive adaptive lighting market are increase in sales of new vehicles, increasing focus on R&D for automotive lighting, accelerating urbanization led to growth of automobile industry and among others. On the other side, factor that are hindering the market are higher cost of automotive adaptive lightings and underdeveloped aftermarket services for automotive adaptive lighting. Despite this factors, the automotive adaptive lightings market is expected to show a good market figure owing to technological advancements and increasing demand for passenger vehicles.
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List of Tables:
TABLE 1 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY VEHICLE TYPE, 2014-2023 (USD MILLION)
TABLE 2 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY COMPONENTS, 2014-2023 (USD MILLION)
TABLE 3 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY REGION, 2014-2023 (USD MILLION)
TABLE 4 NORTH AMERICA: AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY COUNTRY, 2014-2023 (USD MILLION)
TABLE 5 NORTH AMERICA: AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY VEHICLE TYPE, 2014-2023 (USD MILLION)
Continued…
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