Market Overview
As per the circulated industry reports, the global automotive adaptive front lighting market value is forecasted to reach $2.7 billion and grow at a CAGR of 7.29% from 2021 to 2028. Automotive Adaptive lighting is a system that helps to enhance the safety of the vehicles, drivers, and pedestrians, especially during the night drive and under critical weather conditions like fog, heavy rain, and others. There has been an increase in the adoption of various vehicles including autonomous vehicles, commercial vehicles, among others. It is been coupled with the electrification of the automotive industry across the world is likely to affect the demand for this product including adaptive front lighting systems. This is one of the major factors driving the growth of the global market during the period.
Lighting is an important part of the automotive industry due to the growing degree of preference for environmental concerns and increased safety. The substantial increase in the development of technology in the automotive industry has transformed from the use of gas discharge-based light sources to a Light-emitting diode. The arrival of the pandemic has presented a challenging outlook to the market however, the government regulations followed by the rise in funding and investment will help the market opt for expansion during the forecast period.
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The prominent players in the market include
HELLA KGaA Hueck & Co. (Germany), Magneti Marelli (Italy), Zizala Lichtsysteme GmbH (Austria), OSRAM Licht AG, Valeo Group (France), SL Corporation (South Korea), and Koito Manufacturing Co., Ltd (Japan).
Market Segmentation
The global automotive adaptive front lighting market value has been segmented based on technology, vehicle type, and end market.
Technology-based segmentation
The market is segmented based on technology and is inclusive of Halogen, LED, and Xenon. LED, as a part of the technology market segment, is expected to establish domination in the global adaptive lighting market due to the decreasing cost, easy availability, and longer life.
Vehicle type-based segmentation
The vehicle-based segmentation includes Passenger vehicles and Commercial vehicle. Passenger vehicles had accounted for the largest market share for the global automotive adaptive front lighting market value . There has been a rising demand of passenger cars among a large pool of a population. Also, there is an expansion of global auto-manufacturers into new emerging markets acts as a major factor for the growth of this segment.
|
Report Attribute |
Details |
|
Forecast Period |
2022 - 2030 |
|
Market Growth value |
XX % CAGR |
|
Revenue forecast in 2022-2030 |
USD XX billion |
|
Base year for estimation |
2021 |
|
Historical data |
2019 – 2020 |
|
Unit |
USD Billion, CAGR (2021 – 2030) |
FAQ’s:
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Regional Analysis
Among the global regions covered, Europe is reported to have accounted for the largest market for automotive adaptive front lighting market value followed by other regions like the Asia-Pacific and North America. Major factors that have driven the established demand for the automotive adaptive front lighting market value are an increase in sales of new vehicles. There is an increasing focus on the research and development activities for automotive lighting that is accelerating urbanization led to the growth of the automobile industry among others.
Industry News
There is an availability of finance that has eased the purchase of vehicles, due to which there has been a huge rise in the use of automotive lighting. The major responsible factor for the increase in vehicle sales. It is the macroeconomic development and the rise in the global middle-class consumers. According to the information circulated by the OICA, the sales of new vehicles. In 2013, the number of vehicles that have been sold was 85.6 million while in 2016 it was 9.38 million.
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