Adaptive Headlights Market Estimated to Touch USD 4,388.9 Million at a CAGR of 20.42% by 2026 - Report by Market Research Future (MRFR)

2022年04月29日02:09

Increasing Adoption to Improve Safety Level to Offer Robust Opportunities for Adaptive Headlights Market

New York, US, April 28, 2022 (GLOBE NEWSWIRE) -- Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “Adaptive Headlights Market” information by Type, by Vehicle Type, by Sales Channel and Region – Forecast to 2027” market size to reach USD 4,388.9 million, growing at a compound annual growth rate of 20.42% by 2026.

Market Scope:

Increasing Adoption to Improve Safety Level as per laws and regulations will offer robust opportunities for the market over the forecast period. Polestar will introduce Pixel LED headlights, a new technologically superior lighting system, to the compact premium electric vehicle category on its Polestar 2 fastback in December 2020. During the forecast period 2021-2026, the automotive industry's high growth rate, combined with advanced product introductions, will generate growth opportunities for the adaptive headlights market.

Dominant Key Players on Adaptive Headlights Market Covered are:

  • Robert Bosch GmbH
  • General Electric
  • HELLA GmbH & Co. KGaA
  • Koito Manufacturing Co. Ltd.
  • OSRAM Licht AG
  • Valeo

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Market USP Exclusively Encompassed:

Market Drivers

Rise in Auto Vehicle Sales to Bolster Market Growth

The demand for automotive cars is increasing around the world as a result of economic development and rising purchasing power, which is fueling the growth of the automotive adaptive headlights market. As per a report published by the Society of Indian Automobile Manufacturers (SIAM) in December 2020, passenger car sales grew 4.65 percent to 264,898 units in November. Furthermore, demand for electric vehicles is fast increasing as a result of the benefits to the environment and government attempts to encourage the adoption of EVs. The rising demand for vehicles has an impact on the need for adaptive headlights, which encourages market players to release more advanced solutions. Polestar will introduce Pixel LED headlights, a new technologically superior lighting system, to the compact premium electric vehicle category on its Polestar 2 fastback in December 2020. During the forecast period 2021-2026, the automotive industry's high growth rate, combined with advanced product introductions, will generate growth opportunities for this market.

High Cost to act as Market Restraint

Even though the market for Adaptive Headlights is quickly expanding, one of the primary challenges it faces is the high cost of this product. An automotive adaptive headlamp is not a low-cost component of a vehicle. Although LED headlights have numerous advantages, their high manufacturing costs and ultimate pricing limit their use to high-end or luxury vehicles. As a result, throughout the forecast period 2021-2026, these hurdles are expected to stymie the expansion of the Adaptive Headlights market.

High Investment in R&D to act as Market Challenge

The high investment in research and development may act as a market challenge over the forecast period.

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Segmentation of Market Covered in the Research:

The global adaptive headlights market is bifurcated based on sales channel, vehicle type, and type.

By type, the halogen segment will lead the adaptive headlights market over the forecast period.

By vehicle type, passenger cars will dominate the adaptive headlights market over the forecast period.

By sales channel, OEM will spearhead the adaptive headlights market over the forecast period.

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Regional Analysis

North America to Head Adaptive Headlights Market

Because of the high growth rate of the automotive sector in this region, North America had a substantial portion of the Adaptive Headlights market share in 2020 and is expected to increase at a CAGR of 5.89 percent from 2021 to 2026. The expansion of this market is fueled by the emergence of developing countries such as China, India, Japan, and others, as well as increased purchasing power, high investment in electric vehicle production, and increased government initiatives for the use of adaptive headlights. According to an Invest India report, the Indian government plans to make electric vehicles 30 percent of all vehicles in India by 2030. In June 2019, Indonesia's Coordinating Ministry for Maritime Affairs announced a $2 billion investment plan by Toyota Motors, a Japanese automaker, for the development of electric cars in the country. This market's growth will be fueled by such investments. During the forecast period, North America is expected to be a major income generator. During the forecast period, this market is predicted to increase at a CAGR of 8.1 percent. The adaptive headlight market is being driven by factors such as technical developments and an increased need for safety and security. Due to the necessity for enhanced vision at night and in adverse weather situations, energy-efficient LED lighting sources are gaining appeal among vehicle owners. Automakers have been influenced to use LED lighting in their vehicles as a result of this. North America has one of the greatest outputs of adaptable LEDs and adaptive driving beam headlights due to the involvement of heavyweights in the automobile adaptive headlights sector, such as North American Lighting and General Electric Company. In North America, the market for adaptable headlights has grown due to rising demand.

Europe to Have Substantial Growth in Adaptive Headlights Market

Europe will have substantial growth in adaptive headlights market over the forecast period. The presence of many automotive OEM manufacturers in the region, as well as global automobile brands, is boosting market demand. In this region, there has been a surge in M&A activity, site relocations, and integration operations. The region's economic growth has a direct impact on passenger automobile and commercial vehicle sales. Manufacturers want to improve their self-sufficiency throughout the value chain. Europe is predicted to grow greatly throughout the projection age, thanks to the presence of major car OEMs such as BMW & Audi. Furthermore, increased demand for adaptive LED headlights and adaptive driving beams has been driven by increased automobile safety and tighter emissions laws across the country, which is fueling market growth. Countries like Germany, France, and Spain are major contributors to this area.

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COVID-19 Impact on the Global Adaptive Headlights Market

Disruptions in supply chain, fluctuations in demand share, economic situations, along with immediate & with long term impact of the novel coronavirus possessed a negative impact on the adaptive headlights market growth. Such outbreak has put the economic activity at a halt, thus pushing the worldwide economy in a very steep recession. Besides, with the roots originating in China, supply chains across the globe are facing shutdown and unprecedented disruption. Following the relaxation of lockdowns and restrictions across the globe, the market is likely to get back to usual in the days to come.

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