Adaptive Headlights Market 2022| Trends, Growth, Demand, Revenue, Gross Profit, opportunities & Forecast by 2030
Adaptive Headlights Market Overview
In its research report, Market Research Future (MRFR),
emphasizes that the global adaptive headlights market 2022 is
slated to grow exponentially over the review period, securing a substantial
market valuation of USD 3 Billion by 2030 and a healthy 8% CAGR over the
review period.
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)
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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.
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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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