The lighting system used in a vehicle includes a lighting and a signaling device installed or integrated on the front, rear, and sides of the vehicle. These are useful in lighting the roadway for drivers; thereby, increasing the visibility of the vehicle. Automotive headlight allow drivers and pedestrians to analyze the vehicle's presence, position, size, direction of travel, and speed. Various technologies, such as halogens, xenon/HID, and LEDs have wider application in automotive lighting system.
The automotive original equipment manufacturers are massively adopting the LED lighting technology, owing to reduced power consumption and longer life span. With rapid technological advancement, smaller, efficient, moisture, and vibration resistant LED lights are available on the market. These lights have longer lifetime that can last for decades.
Increasing concerns regarding road safety and government regulations for lighting are the major factors driving the demand for lighting equipment. Factors such as increasing disposable incomes, improving lifestyle, and transportation requirements are contributing in the increase in the production of vehicles, which in turn, is fueling the demand for headlights. However, high cost of LEDs hinders the growth of the headlight market. Furthermore, increase in demand for advanced technology in vehicles is anticipated to provide a remarkable growth opportunity for the players operating in the market.
The headlight market is segmented into technology, vehicle type, propulsion type, sales channel, and region. By technology, the global market is divided into halogen, LED, and Xenon. By vehicle type, it is bifurcated into passenger cars and commercial vehicle. By vehicle propulsion, it is categorized into ICE vehicle and electric vehicle. By sales channel, the market is segmented as OEM and aftermarket. By region, the market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The automotive original equipment manufacturers are massively adopting the LED lighting technology, owing to reduced power consumption and longer life span. With rapid technological advancement, smaller, efficient, moisture, and vibration resistant LED lights are available on the market. These lights have longer lifetime that can last for decades.
Increasing concerns regarding road safety and government regulations for lighting are the major factors driving the demand for lighting equipment. Factors such as increasing disposable incomes, improving lifestyle, and transportation requirements are contributing in the increase in the production of vehicles, which in turn, is fueling the demand for headlights. However, high cost of LEDs hinders the growth of the headlight market. Furthermore, increase in demand for advanced technology in vehicles is anticipated to provide a remarkable growth opportunity for the players operating in the market.
The headlight market is segmented into technology, vehicle type, propulsion type, sales channel, and region. By technology, the global market is divided into halogen, LED, and Xenon. By vehicle type, it is bifurcated into passenger cars and commercial vehicle. By vehicle propulsion, it is categorized into ICE vehicle and electric vehicle. By sales channel, the market is segmented as OEM and aftermarket. By region, the market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the headlight market analysis from 2021 to 2031 to identify the prevailing headlight market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the headlight market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global headlight market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
- Xenon
- LED
- Halogen
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Vehicle Propulsion
- ICE Vehicle
- Electric Vehicle
By Sales Channel
- OEM
- Aftermarket
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- CONTINENTAL AG
- DE AMERTEK CORPORATION
- HELLA GmbH & Co. KGaA
- HYUNDAI MOBIS CO., LTD
- ROBERT BOSCH GMBH
- STANLEY ELECTRIC CO., LTD
- VALEO SA
- KOITO MANUFACTURING CO., LTD
- KONINKLIJKE PHILIPS N. V.
- J. W. SPEAKER CORPORATION
- OSRAM GmbH
- ZKW GROUP
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: HEADLIGHT MARKET, BY TECHNOLOGY
4.1 Overview
4.1.1 Market size and forecast
4.2 Halogen
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Xenon
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 LED
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: HEADLIGHT MARKET, BY VEHICLE TYPE
5.1 Overview
5.1.1 Market size and forecast
5.2 Passenger Cars
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Commercial Vehicles
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
CHAPTER 6: HEADLIGHT MARKET, BY VEHICLE PROPULSION
6.1 Overview
6.1.1 Market size and forecast
6.2 ICE Vehicle
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Electric Vehicle
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
CHAPTER 7: HEADLIGHT MARKET, BY SALES CHANNEL
7.1 Overview
7.1.1 Market size and forecast
7.2 OEM
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market analysis by country
7.3 Aftermarket
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market analysis by country
CHAPTER 8: HEADLIGHT MARKET, BY REGION
8.1 Overview
8.1.1 Market size and forecast
8.2 North America
8.2.1 Key trends and opportunities
8.2.2 North America Market size and forecast, by Technology
8.2.3 North America Market size and forecast, by Vehicle Type
8.2.4 North America Market size and forecast, by Vehicle Propulsion
8.2.5 North America Market size and forecast, by Sales Channel
8.2.6 North America Market size and forecast, by country
8.2.6.1 U. S.
8.2.6.1.1 Market size and forecast, by Technology
8.2.6.1.2 Market size and forecast, by Vehicle Type
8.2.6.1.3 Market size and forecast, by Vehicle Propulsion
8.2.6.1.4 Market size and forecast, by Sales Channel
8.2.6.2 Canada
8.2.6.2.1 Market size and forecast, by Technology
8.2.6.2.2 Market size and forecast, by Vehicle Type
8.2.6.2.3 Market size and forecast, by Vehicle Propulsion
8.2.6.2.4 Market size and forecast, by Sales Channel
8.2.6.3 Mexico
8.2.6.3.1 Market size and forecast, by Technology
8.2.6.3.2 Market size and forecast, by Vehicle Type
8.2.6.3.3 Market size and forecast, by Vehicle Propulsion
8.2.6.3.4 Market size and forecast, by Sales Channel
8.3 Europe
8.3.1 Key trends and opportunities
8.3.2 Europe Market size and forecast, by Technology
8.3.3 Europe Market size and forecast, by Vehicle Type
8.3.4 Europe Market size and forecast, by Vehicle Propulsion
8.3.5 Europe Market size and forecast, by Sales Channel
8.3.6 Europe Market size and forecast, by country
8.3.6.1 Germany
8.3.6.1.1 Market size and forecast, by Technology
8.3.6.1.2 Market size and forecast, by Vehicle Type
8.3.6.1.3 Market size and forecast, by Vehicle Propulsion
8.3.6.1.4 Market size and forecast, by Sales Channel
8.3.6.2 France
8.3.6.2.1 Market size and forecast, by Technology
8.3.6.2.2 Market size and forecast, by Vehicle Type
8.3.6.2.3 Market size and forecast, by Vehicle Propulsion
8.3.6.2.4 Market size and forecast, by Sales Channel
8.3.6.3 UK
8.3.6.3.1 Market size and forecast, by Technology
8.3.6.3.2 Market size and forecast, by Vehicle Type
8.3.6.3.3 Market size and forecast, by Vehicle Propulsion
8.3.6.3.4 Market size and forecast, by Sales Channel
8.3.6.4 Italy
8.3.6.4.1 Market size and forecast, by Technology
8.3.6.4.2 Market size and forecast, by Vehicle Type
8.3.6.4.3 Market size and forecast, by Vehicle Propulsion
8.3.6.4.4 Market size and forecast, by Sales Channel
8.3.6.5 Rest of Europe
8.3.6.5.1 Market size and forecast, by Technology
8.3.6.5.2 Market size and forecast, by Vehicle Type
8.3.6.5.3 Market size and forecast, by Vehicle Propulsion
8.3.6.5.4 Market size and forecast, by Sales Channel
8.4 Asia-Pacific
8.4.1 Key trends and opportunities
8.4.2 Asia-Pacific Market size and forecast, by Technology
8.4.3 Asia-Pacific Market size and forecast, by Vehicle Type
8.4.4 Asia-Pacific Market size and forecast, by Vehicle Propulsion
8.4.5 Asia-Pacific Market size and forecast, by Sales Channel
8.4.6 Asia-Pacific Market size and forecast, by country
8.4.6.1 China
8.4.6.1.1 Market size and forecast, by Technology
8.4.6.1.2 Market size and forecast, by Vehicle Type
8.4.6.1.3 Market size and forecast, by Vehicle Propulsion
8.4.6.1.4 Market size and forecast, by Sales Channel
8.4.6.2 Japan
8.4.6.2.1 Market size and forecast, by Technology
8.4.6.2.2 Market size and forecast, by Vehicle Type
8.4.6.2.3 Market size and forecast, by Vehicle Propulsion
8.4.6.2.4 Market size and forecast, by Sales Channel
8.4.6.3 India
8.4.6.3.1 Market size and forecast, by Technology
8.4.6.3.2 Market size and forecast, by Vehicle Type
8.4.6.3.3 Market size and forecast, by Vehicle Propulsion
8.4.6.3.4 Market size and forecast, by Sales Channel
8.4.6.4 South Korea
8.4.6.4.1 Market size and forecast, by Technology
8.4.6.4.2 Market size and forecast, by Vehicle Type
8.4.6.4.3 Market size and forecast, by Vehicle Propulsion
8.4.6.4.4 Market size and forecast, by Sales Channel
8.4.6.5 Rest of Asia-Pacific
8.4.6.5.1 Market size and forecast, by Technology
8.4.6.5.2 Market size and forecast, by Vehicle Type
8.4.6.5.3 Market size and forecast, by Vehicle Propulsion
8.4.6.5.4 Market size and forecast, by Sales Channel
8.5 LAMEA
8.5.1 Key trends and opportunities
8.5.2 LAMEA Market size and forecast, by Technology
8.5.3 LAMEA Market size and forecast, by Vehicle Type
8.5.4 LAMEA Market size and forecast, by Vehicle Propulsion
8.5.5 LAMEA Market size and forecast, by Sales Channel
8.5.6 LAMEA Market size and forecast, by country
8.5.6.1 Latin America
8.5.6.1.1 Market size and forecast, by Technology
8.5.6.1.2 Market size and forecast, by Vehicle Type
8.5.6.1.3 Market size and forecast, by Vehicle Propulsion
8.5.6.1.4 Market size and forecast, by Sales Channel
8.5.6.2 Middle East
8.5.6.2.1 Market size and forecast, by Technology
8.5.6.2.2 Market size and forecast, by Vehicle Type
8.5.6.2.3 Market size and forecast, by Vehicle Propulsion
8.5.6.2.4 Market size and forecast, by Sales Channel
8.5.6.3 Africa
8.5.6.3.1 Market size and forecast, by Technology
8.5.6.3.2 Market size and forecast, by Vehicle Type
8.5.6.3.3 Market size and forecast, by Vehicle Propulsion
8.5.6.3.4 Market size and forecast, by Sales Channel
CHAPTER 9: COMPANY LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product Mapping of Top 10 Players
9.4. Competitive Dashboard
9.5. Competitive Heatmap
9.6. Key developments
CHAPTER 10: COMPANY PROFILES
10.1 CONTINENTAL AG
10.1.1 Company overview
10.1.2 Company snapshot
10.1.3 Operating business segments
10.1.4 Product portfolio
10.1.5 Business performance
10.1.6 Key strategic moves and developments
10.2 DE AMERTEK CORPORATION
10.2.1 Company overview
10.2.2 Company snapshot
10.2.3 Operating business segments
10.2.4 Product portfolio
10.2.5 Business performance
10.2.6 Key strategic moves and developments
10.3 HELLA GmbH & Co. KGaA
10.3.1 Company overview
10.3.2 Company snapshot
10.3.3 Operating business segments
10.3.4 Product portfolio
10.3.5 Business performance
10.3.6 Key strategic moves and developments
10.4 HYUNDAI MOBIS CO., LTD
10.4.1 Company overview
10.4.2 Company snapshot
10.4.3 Operating business segments
10.4.4 Product portfolio
10.4.5 Business performance
10.4.6 Key strategic moves and developments
10.5 ROBERT BOSCH GMBH
10.5.1 Company overview
10.5.2 Company snapshot
10.5.3 Operating business segments
10.5.4 Product portfolio
10.5.5 Business performance
10.5.6 Key strategic moves and developments
10.6 STANLEY ELECTRIC CO., LTD
10.6.1 Company overview
10.6.2 Company snapshot
10.6.3 Operating business segments
10.6.4 Product portfolio
10.6.5 Business performance
10.6.6 Key strategic moves and developments
10.7 VALEO SA
10.7.1 Company overview
10.7.2 Company snapshot
10.7.3 Operating business segments
10.7.4 Product portfolio
10.7.5 Business performance
10.7.6 Key strategic moves and developments
10.8 KOITO MANUFACTURING CO., LTD
10.8.1 Company overview
10.8.2 Company snapshot
10.8.3 Operating business segments
10.8.4 Product portfolio
10.8.5 Business performance
10.8.6 Key strategic moves and developments
10.9 KONINKLIJKE PHILIPS N. V.
10.9.1 Company overview
10.9.2 Company snapshot
10.9.3 Operating business segments
10.9.4 Product portfolio
10.9.5 Business performance
10.9.6 Key strategic moves and developments
10.10 J. W. SPEAKER CORPORATION
10.10.1 Company overview
10.10.2 Company snapshot
10.10.3 Operating business segments
10.10.4 Product portfolio
10.10.5 Business performance
10.10.6 Key strategic moves and developments
10.11 OSRAM GmbH
10.11.1 Company overview
10.11.2 Company snapshot
10.11.3 Operating business segments
10.11.4 Product portfolio
10.11.5 Business performance
10.11.6 Key strategic moves and developments
10.12 ZKW GROUP
10.12.1 Company overview
10.12.2 Company snapshot
10.12.3 Operating business segments
10.12.4 Product portfolio
10.12.5 Business performance
10.12.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Headlight Market,' the headlight market was valued at $6.7 billion in 2021, and is estimated to reach $12.0 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.Asia-Pacific is expected to dominate the global headlight market. Asia-Pacific has been a region with constant developments that have higher growth opportunities as compared to any other region due to its highest population and its developing countries. In terms of vehicle production, Asia-Pacific accounted for around 57% of total automotive production in 2020 of the global vehicle production, and is expected to continue this trend in the recent years. The production activities are expected to have a direct influence on the overall demand for headlights in the region. Moreover, increase in penetration of autonomous and semi-autonomous technologies in vehicles, technology advancement in automotive lighting, and rise in demand for safety in vehicles are expected to fuel the growth of the market in the region.
Automotive manufacturers are developing new products to address stringent emission regulations. Greater demand for luxury vehicles, heavy dependence on road for freight movement, and rise in production and sale of vehicles drive the growth of the automotive headlight market.
Increasing concerns regarding road safety and government regulations for lighting are the major factors driving the demand for lighting equipment. Factors such as increasing disposable incomes, improving lifestyle, and transportation requirements are contributing in the increase in the production of vehicles, which in turn, is fueling the demand for headlights. Furthermore, increase in demand for advanced technology in vehicles is anticipated to provide a remarkable growth opportunity for the players operating in the headlight market.
COVID-19 Impact Analysis
The spread of the COVID-19 pandemic has negatively impacted the headlight market, owing to commute restrictions, and is expected to weaken the financial performance of the market players. It has impacted the overall economy, and contributors such as market participants are formulating strategic cost-saving plans.Majority of the manufacturing facilities headlights were shut down during the pandemic due to commute restrictions, workforce unavailability, and short supply of raw material due to supply chain disturbance.
The sale of headlights is directly associated with automotive production and sales activities across the globe. Production loss is anticipated to increase if the lockdown in countries is extended. The global automotive production has witnessed decline by 16% in 2020 as compared to automotive production in 2019. Moreover, the global sales of automotive has witnessed drop by around 14% (Y-o-Y) from 90.42 million units in 2019 to 77.97 million units in 2020.
Although the automotive market has struggled due to the pandemic, the automotive headlight market has high scope of growing opportunities in future due to factors, such as rise in demand for autonomous and semi-autonomous vehicles, and technological advancement in automotive lighting is expected to stimulates the market.
KEY FINDINGS OF THE STUDY
By technology, the LED segment is anticipated to exhibit significant growth in the near future.By vehicle type, the passenger cars segment is anticipated to exhibit significant growth in the near future.
By vehicle propulsion, the electric vehicles segment is anticipated to exhibit significant growth in the near future.
By sales channel, the aftermarket segment is anticipated to exhibit significant growth in the near future.
By region, LAMEA is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global headlight market include Continental AG, De Amertek Corporation, Hella GmbH & Co. KGAA, Hyundai Mobis Co., Ltd., Johnson Electric Holdings Limited, J.W. Speaker Corporation, Marelli Holdings Co., Ltd, Robert Bosch GmbH, Stanley Electric Co., Ltd., and Valeo.
Companies Mentioned
- Continental AG
- De Amertek Corporation
- Hella GmbH & Co. KGaA
- Hyundai Mobis Co. Ltd.
- Robert Bosch GmbH
- Stanley Electric Co. Ltd.
- Valeo SA
- Koito Manufacturing Co. Ltd.
- Koninklijke Philips N.V.
- J.W. Speaker Corporation
- Osram GmbH
- Zkw Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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