Automotive Adaptive Lighting Market 2019 Global Industry Forecast To 2023 is latest depth analysis research report published by Market Research Future. According to this Automotive Adaptive Lighting Industry Analysis report, the Global Market for Automotive Adaptive Lightings is to register 8.12% growth rate during forecast period of 2019 to 2023. This report plays important role in future business plans, decision making, to know about upcoming market growth opportunities, trends, key players in Automotive Adaptive Lighting Industry.
Global Automotive Adaptive Lighting Market is segmented By Technology (Halogen, Led, Xenon and Other), Vehicle Type (Passenger Vehicle and Commercial Vehicle), End Market (OEM and Aftermarket) and Region.
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Key Companies Studied in Report:
SL Corporation (South Korea), HELLA KGaA Hueck & Co. (Germany), Magneti Marelli (Italy), Koito Manufacturing Co., Ltd (Japan), North American Lighting (U.S.), Stanley Electric (Japan), Varroc Lighting Systems (U.S.), OSRAM Licht AG, Valeo Group (France), and Zizala Lichtsysteme GmbH (Austria). The residence of high-cash automotive giants and stiff competition among them are expected to amplify the market growth.
The growing on-road safety concerns is promoting the sales of smart automobiles. This is noted to be a major factor that is expected to boost the growth of the global automotive adaptive lighting market growth, reveals Market Research Future (MRFR). MRFR states that the market is expected to expand at a CAGR of 8.18% over the forecast period (2015-2023) and scale to a valuation of USD 2,795.7 million by 2023. Growing Necessity for On-Road Safety to Drive Automotive Adaptive Lighting Market
Increase in number of road-accidents is encouraging automobile manufactures to incorporate adaptive lighting solutions in their products. Alongside, the growing awareness among end-users is anticipated to reinforce the growth of the global market of automotive adaptive lighting. The emergence of laser technologies is likely to impel the global automotive adaptive lighting market growth. Other factors such as easy reach for adaptive lighting equipment, hike in disposal income, and the product gaining better recognition are expected to propel the market growth.
However, the fast-paced expansion of the global automotive adaptive lighting market is anticipated to be hindered by certain factors. The high purchase price and maintenance cost are expected to limit the global market growth.
The global market of automotive adaptive lighting has been segmented on the basis of vehicle type, technology, and end market. Based on the technology, the market has been segmented into LED, Halogen, and Xenon. The LED segment is likely to dominate over the review period. Expansion of the LED segment can be attributed to lower price, easy availability, and extended shelf- life. Based on the vehicle type, the market has been segmented into Commercial vehicle and Passenger vehicle. The passenger vehicles segment is projected for holding the major share for the global market. Surge in demand for passenger cars is, in turn, leading to escalation of their sales, thus, likely to spur growth of the market. Based on the end market, the global market has been segmented into OEMs and aftermarket.
By region, the automotive adaptive lighting market has been analyzed across North America, Asia-Pacific, Europe, and Rest of the world (RoW). The Europe market is poised to hold the largest share of the global market over the evaluation period. The automotive adaptive lighting market in Asia Pacific, followed by North America, is expected to exhibit a remarkable growth over the assessment period.
The rising need for smart automobiles and hike in the per capita income are two factors that are expected to promote the growth of the Asia Pacific market. In addition, the growing population and increase in urban migration are surging the need for effective transportation. This, in turn, is expected to work in favor of the regional market. In Europe, the robust growth of the market can be attributed to the increase in focus on research and developmental activities fostering the production of automobiles, empowered with better safety measures. Furthermore, the increasing demand for smart automobiles among people is likely to boost the growth of the Europe market.
List of figures:
FIGURE 1 RESEARCH PROCESS OF MRFR 16
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 18
FIGURE 3 IMPACT ANALSIS: MARKET DRIVERS 20
FIGURE 4 SALES OF NEW VEHICLES, 2013-2016 21
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS 22
FIGURE 6 FIVE FORCES ANALYSIS 24
FIGURE 7 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY TECHNOLOGY, 2016 (%) 29
FIGURE 8 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 29
FIGURE 9 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY VEHICLE TYPE, 2016 (%) 32
FIGURE 10 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY VEHICLE TYPE, 2015-2023 (USD MILLION) 32
FIGURE 11 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY END MARKET, 2016 (%) 35
FIGURE 12 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY END MARKET, 2015-2023 (USD MILLION) 35
FIGURE 13 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET SHARE (%), BY REGION, 2016 38
FIGURE 14 GLOBAL AUTOMOTIVE ADAPTIVE LIGHTING MARKET, BY REGION, 2015-2023 (USD MILLION) 39
FIGURE 15 NORTH AMERICA AUTOMOTIVE ADAPTIVE LIGHTING MARKET SHARE (%), 2016 40
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