PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1284047
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1284047
Headlight Market Forecasts to 2028 - Global Analysis By Vehicle Type, By Vehicle Propulsion, By Sales Channel, By Technology and By Geography
According to Stratistics MRC, the Global Headlight Market is accounted for $7.25 billion in 2022 and is expected to reach $11.70 billion by 2028 growing at a CAGR of 8.3% during the forecast period. In order to illuminate the driver, lighting is crucial in automobiles. It enhances the aesthetic appeal of the vehicle's interior and external components while also making them more apparent. Both lighting and signaling devices are part of the lighting system. These lighting fixtures are positioned throughout the vehicle, including the front, back, top, and interiors.
Market Dynamics:
Driver:
Increasing traffic safety and government regulations
The demand for lighting equipment is primarily driven by rising concerns about traffic safety and government lighting regulations. The need for headlights is being fueled by factors such as rising disposable incomes, an enhancement of lifestyles, and increased transportation needs, which are all factors in the rise in vehicle production. Automotive headlights provide better reliability, visibility, and operating efficiency.
Restraint:
High cost of headlights and repair costs
However, intelligent headlights are connected to the car's sensors and can adjust automatically based on the road's conditions. As a result, the cost of car headlights gradually increases. The cost of some automotive components is rising as vehicles become more complicated and technologically sophisticated. For the majority of cars, this simple repair has become more difficult and time-consuming, even though it may still be practical for some models. The headlight market will confront challenges throughout the forecast period as a result of some vehicles' entire headlamp removal requirements, which may require removing the entire bumper.
Opportunity:
Adoption of advanced driver assistance system
In order to account for the road's curvature and improve night vision, an essential component of advanced driver assistance systems is the automotive headlamp, which changes the lighting pattern of the car when driving on a curving road. Furthermore, the intelligent lighting of ADAS is extremely important in bad weather because it improves visibility while driving. The adoption of autonomous and semi-autonomous vehicles, the high demand for safety features, and the growing need for comfort all contribute to the rise of sophisticated driver assistance systems, which in turn directly support the expansion of the headlight market.
Threat:
Expensive and challenging light output for drivers
As laser headlights are so expensive, only premium car manufacturers like BMW include them as standard equipment. These lights require additional cooling since they generate more heat than LED lights. In applications like turn signals and brake lights, laser lights cannot take the place of LED lights. Additionally, projector headlights provide a substantially different light output than reflector headlights, making them challenging for drivers who use them. They take up more space inside a car than reflector headlights do.
COVID-19 Impact:
Due to travel restrictions, the COVID-19 pandemic's spread has had a negative impact on the headlight market and is predicted to have a significant influence on market participants' financial performance. Because of this, contributors to the economy as well as market participants are creating strategic cost-cutting plans. Due to commuter limitations, a lack of workers, and a shortage of raw materials as a result of supply chain disruption, the majority of manufacturing facilities had to shut down during the epidemic. Headlight sales are closely related to global automotive manufacturing and sales movement. If the lockdown in the countries is prolonged, production loss is expected to rise. Compared to automobile production in 2019, the world's automotive output has decreased by 16% in 2020.
The passenger cars segment is expected to be the largest during the forecast period
Because of the population's growing need for automobiles, increasing purchasing power, and the rapid expansion of their production and sales, passenger cars segment is predicted to hold the largest share of the global headlight market during the projection period. The OICA announced that the global sale of passenger automobiles increased by 26% in 2021 when compared to the Q1 and Q2 sales of 2020. However, research by IBEF claims that India sold 27.11 lakh passenger cars in FY21. These developments have increased the demand for adaptable headlights. As a result, there is a higher demand for passenger vehicles with headlights.
The LED segment is expected to have the highest CAGR during the forecast period
According to Automotive LED Product Trend and Regional Market Analysis, the global penetration rate of LED headlights will approach 60% in 2021, with penetration in new energy vehicles (NEV) leading at 90%. As a result, the LED segment is anticipated to have the highest CAGR during the projected period. Additionally, automotive LED lights has expanded substantially over the past decade as demand for luxury vehicles has grown on a global scale. However, the growing human population might increase demand for LED headlights. The market for vehicle LED headlights is expanding due to the need for energy-efficient lighting options. These variables will fuel the headlight market segment's expansion over the forecast period.
Region with largest share:
Growing economies like China and India are anticipated to propel the growth of the headlight market in APAC due to the region's industrialization and urbanization. In terms of installation, China dominates the headlight market, which in turn drives up demand in the region. The largest car manufacturing nation in the world, China, produced 27,809,196 vehicles. The nation is connected to a number of prominent automakers, including SAIC Motor, Dongfeng, FAW, and Chang'an. A few western automakers are focusing on expanding in China as well to provide a wider spectrum of customers.
Region with highest CAGR:
With Koito and Stanley accounting for the major portion of the market, Asia Pacific is expected to have highest CAGR of the global headlight market during the extrapolated period, and Japanese market players are anticipated to dominate the Asian market. Additionally, regional businesses are focusing on developing an efficient lighting solution in order to take control of the industry. As a result, it is anticipated that the country's robust automotive industry and the increased emphasis of western automakers on development in the country will serve as the primary drivers of the automotive headlight market's growth.
Key players in the market:
Some of the key players in Headlight market include Continental AG, DE amertek corporation, Hella KGaA Hueck & Co, Hyundai mobis Co.LTD, J.W. Speaker Corporation, Koito Manufacturing Co., Ltd, Magna International Inc., Marelli Holdings Co., Ltd., Osram GmbH, Robert Bosh GMBH, SL America Corporation, Stanley Electric Co., Ltd., Valeo SA, Varroc Group and ZKW Group.
Key Developments:
In April 2023, Continental Continues to Upgrade Charging Infrastructure for Electric Vehicles on Its Test Tracks. Contidrom proving ground increases total charging capacity to more than 2,000 kW. Nine of the world's ten highest-volume manufacturers of electric vehicles use Continental as their original equipment manufacturer for tires
Vehicle Types Covered:
- Commercial Vehicles
- Passenger Cars
- Other Vehicle Types
Vehicle Propulsions Covered:
- Electric Vehicle
- ICE Vehicle
- Other Vehicle Propulsions
Sales Channels Covered:
- Aftermarket
- OEM
Technologies Covered:
- LED
- Xenon
- Halogen
- Other Technologies
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Technology Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Headlight Market, By Vehicle Type
- 5.1 Introduction
- 5.2 Commercial Vehicles
- 5.3 Passenger Cars
- 5.4 Other Vehicle Types
6 Global Headlight Market, By Vehicle Propulsion
- 6.1 Introduction
- 6.2 Electric Vehicle
- 6.3 ICE Vehicle
- 6.4 Other Vehicle Propulsions
7 Global Headlight Market, By Sales Channel
- 7.1 Introduction
- 7.2 Aftermarket
- 7.3 OEM
8 Global Headlight Market, By Technology
- 8.1 Introduction
- 8.2 LED
- 8.3 Xenon
- 8.4 Halogen
- 8.5 Other Technologies
9 Global Headlight Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 Continental AG
- 11.2 DE amertek corporation
- 11.3 Hella KGaA Hueck & Co
- 11.4 Hyundai mobis Co.LTD
- 11.5 J.W. Speaker Corporation
- 11.6 Koito Manufacturing Co., Ltd
- 11.7 Magna International Inc.
- 11.8 Marelli Holdings Co., Ltd.
- 11.9 Osram GmbH
- 11.10 Robert Bosh GMBH
- 11.11 SL America Corporation
- 11.12 Stanley Electric Co., Ltd.
- 11.13 Valeo SA
- 11.14 Varroc Group
- 11.15 ZKW Group
List of Tables
- Table 1 Global Headlight Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Headlight Market Outlook, By Vehicle Type (2020-2028) ($MN)
- Table 3 Global Headlight Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
- Table 4 Global Headlight Market Outlook, By Passenger Cars (2020-2028) ($MN)
- Table 5 Global Headlight Market Outlook, By Other Vehicle Types (2020-2028) ($MN)
- Table 6 Global Headlight Market Outlook, By Vehicle Propulsion (2020-2028) ($MN)
- Table 7 Global Headlight Market Outlook, By Electric Vehicle (2020-2028) ($MN)
- Table 8 Global Headlight Market Outlook, By ICE Vehicle (2020-2028) ($MN)
- Table 9 Global Headlight Market Outlook, By Other Vehicle Propulsions (2020-2028) ($MN)
- Table 10 Global Headlight Market Outlook, By Sales Channel (2020-2028) ($MN)
- Table 11 Global Headlight Market Outlook, By Aftermarket (2020-2028) ($MN)
- Table 12 Global Headlight Market Outlook, By OEM (2020-2028) ($MN)
- Table 13 Global Headlight Market Outlook, By Technology (2020-2028) ($MN)
- Table 14 Global Headlight Market Outlook, By LED (2020-2028) ($MN)
- Table 15 Global Headlight Market Outlook, By Xenon (2020-2028) ($MN)
- Table 16 Global Headlight Market Outlook, By Halogen (2020-2028) ($MN)
- Table 17 Global Headlight Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 18 North America Headlight Market Outlook, By Country (2020-2028) ($MN)
- Table 19 North America Headlight Market Outlook, By Vehicle Type (2020-2028) ($MN)
- Table 20 North America Headlight Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
- Table 21 North America Headlight Market Outlook, By Passenger Cars (2020-2028) ($MN)
- Table 22 North America Headlight Market Outlook, By Other Vehicle Types (2020-2028) ($MN)
- Table 23 North America Headlight Market Outlook, By Vehicle Propulsion (2020-2028) ($MN)
- Table 24 North America Headlight Market Outlook, By Electric Vehicle (2020-2028) ($MN)
- Table 25 North America Headlight Market Outlook, By ICE Vehicle (2020-2028) ($MN)
- Table 26 North America Headlight Market Outlook, By Other Vehicle Propulsions (2020-2028) ($MN)
- Table 27 North America Headlight Market Outlook, By Sales Channel (2020-2028) ($MN)
- Table 28 North America Headlight Market Outlook, By Aftermarket (2020-2028) ($MN)
- Table 29 North America Headlight Market Outlook, By OEM (2020-2028) ($MN)
- Table 30 North America Headlight Market Outlook, By Technology (2020-2028) ($MN)
- Table 31 North America Headlight Market Outlook, By LED (2020-2028) ($MN)
- Table 32 North America Headlight Market Outlook, By Xenon (2020-2028) ($MN)
- Table 33 North America Headlight Market Outlook, By Halogen (2020-2028) ($MN)
- Table 34 North America Headlight Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 35 Europe Headlight Market Outlook, By Country (2020-2028) ($MN)
- Table 36 Europe Headlight Market Outlook, By Vehicle Type (2020-2028) ($MN)
- Table 37 Europe Headlight Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
- Table 38 Europe Headlight Market Outlook, By Passenger Cars (2020-2028) ($MN)
- Table 39 Europe Headlight Market Outlook, By Other Vehicle Types (2020-2028) ($MN)
- Table 40 Europe Headlight Market Outlook, By Vehicle Propulsion (2020-2028) ($MN)
- Table 41 Europe Headlight Market Outlook, By Electric Vehicle (2020-2028) ($MN)
- Table 42 Europe Headlight Market Outlook, By ICE Vehicle (2020-2028) ($MN)
- Table 43 Europe Headlight Market Outlook, By Other Vehicle Propulsions (2020-2028) ($MN)
- Table 44 Europe Headlight Market Outlook, By Sales Channel (2020-2028) ($MN)
- Table 45 Europe Headlight Market Outlook, By Aftermarket (2020-2028) ($MN)
- Table 46 Europe Headlight Market Outlook, By OEM (2020-2028) ($MN)
- Table 47 Europe Headlight Market Outlook, By Technology (2020-2028) ($MN)
- Table 48 Europe Headlight Market Outlook, By LED (2020-2028) ($MN)
- Table 49 Europe Headlight Market Outlook, By Xenon (2020-2028) ($MN)
- Table 50 Europe Headlight Market Outlook, By Halogen (2020-2028) ($MN)
- Table 51 Europe Headlight Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 52 Asia Pacific Headlight Market Outlook, By Country (2020-2028) ($MN)
- Table 53 Asia Pacific Headlight Market Outlook, By Vehicle Type (2020-2028) ($MN)
- Table 54 Asia Pacific Headlight Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
- Table 55 Asia Pacific Headlight Market Outlook, By Passenger Cars (2020-2028) ($MN)
- Table 56 Asia Pacific Headlight Market Outlook, By Other Vehicle Types (2020-2028) ($MN)
- Table 57 Asia Pacific Headlight Market Outlook, By Vehicle Propulsion (2020-2028) ($MN)
- Table 58 Asia Pacific Headlight Market Outlook, By Electric Vehicle (2020-2028) ($MN)
- Table 59 Asia Pacific Headlight Market Outlook, By ICE Vehicle (2020-2028) ($MN)
- Table 60 Asia Pacific Headlight Market Outlook, By Other Vehicle Propulsions (2020-2028) ($MN)
- Table 61 Asia Pacific Headlight Market Outlook, By Sales Channel (2020-2028) ($MN)
- Table 62 Asia Pacific Headlight Market Outlook, By Aftermarket (2020-2028) ($MN)
- Table 63 Asia Pacific Headlight Market Outlook, By OEM (2020-2028) ($MN)
- Table 64 Asia Pacific Headlight Market Outlook, By Technology (2020-2028) ($MN)
- Table 65 Asia Pacific Headlight Market Outlook, By LED (2020-2028) ($MN)
- Table 66 Asia Pacific Headlight Market Outlook, By Xenon (2020-2028) ($MN)
- Table 67 Asia Pacific Headlight Market Outlook, By Halogen (2020-2028) ($MN)
- Table 68 Asia Pacific Headlight Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 69 South America Headlight Market Outlook, By Country (2020-2028) ($MN)
- Table 70 South America Headlight Market Outlook, By Vehicle Type (2020-2028) ($MN)
- Table 71 South America Headlight Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
- Table 72 South America Headlight Market Outlook, By Passenger Cars (2020-2028) ($MN)
- Table 73 South America Headlight Market Outlook, By Other Vehicle Types (2020-2028) ($MN)
- Table 74 South America Headlight Market Outlook, By Vehicle Propulsion (2020-2028) ($MN)
- Table 75 South America Headlight Market Outlook, By Electric Vehicle (2020-2028) ($MN)
- Table 76 South America Headlight Market Outlook, By ICE Vehicle (2020-2028) ($MN)
- Table 77 South America Headlight Market Outlook, By Other Vehicle Propulsions (2020-2028) ($MN)
- Table 78 South America Headlight Market Outlook, By Sales Channel (2020-2028) ($MN)
- Table 79 South America Headlight Market Outlook, By Aftermarket (2020-2028) ($MN)
- Table 80 South America Headlight Market Outlook, By OEM (2020-2028) ($MN)
- Table 81 South America Headlight Market Outlook, By Technology (2020-2028) ($MN)
- Table 82 South America Headlight Market Outlook, By LED (2020-2028) ($MN)
- Table 83 South America Headlight Market Outlook, By Xenon (2020-2028) ($MN)
- Table 84 South America Headlight Market Outlook, By Halogen (2020-2028) ($MN)
- Table 85 South America Headlight Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 86 Middle East & Africa Headlight Market Outlook, By Country (2020-2028) ($MN)
- Table 87 Middle East & Africa Headlight Market Outlook, By Vehicle Type (2020-2028) ($MN)
- Table 88 Middle East & Africa Headlight Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
- Table 89 Middle East & Africa Headlight Market Outlook, By Passenger Cars (2020-2028) ($MN)
- Table 90 Middle East & Africa Headlight Market Outlook, By Other Vehicle Types (2020-2028) ($MN)
- Table 91 Middle East & Africa Headlight Market Outlook, By Vehicle Propulsion (2020-2028) ($MN)
- Table 92 Middle East & Africa Headlight Market Outlook, By Electric Vehicle (2020-2028) ($MN)
- Table 93 Middle East & Africa Headlight Market Outlook, By ICE Vehicle (2020-2028) ($MN)
- Table 94 Middle East & Africa Headlight Market Outlook, By Other Vehicle Propulsions (2020-2028) ($MN)
- Table 95 Middle East & Africa Headlight Market Outlook, By Sales Channel (2020-2028) ($MN)
- Table 96 Middle East & Africa Headlight Market Outlook, By Aftermarket (2020-2028) ($MN)
- Table 97 Middle East & Africa Headlight Market Outlook, By OEM (2020-2028) ($MN)
- Table 98 Middle East & Africa Headlight Market Outlook, By Technology (2020-2028) ($MN)
- Table 99 Middle East & Africa Headlight Market Outlook, By LED (2020-2028) ($MN)
- Table 100 Middle East & Africa Headlight Market Outlook, By Xenon (2020-2028) ($MN)
- Table 101 Middle East & Africa Headlight Market Outlook, By Halogen (2020-2028) ($MN)
- Table 102 Middle East & Africa Headlight Market Outlook, By Other Technologies (2020-2028) ($MN)
