The new report by Expert Market Research titled, ‘Global Headlight Control Module Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global Headlight Control Module Market, assessing the market based on its segments like technology, function, vehicle type and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): 3.5 Billion
• Forecast CAGR (2021-2026): 4.5%
The automobile industry is developing new lighting technologies and focusing on main lighting components such as headlights. Players are forming alliances in order to stay ahead of the competition in the market. Headlights play an important role in establishing a safe atmosphere for nighttime, driving the industry’s growth. Concentrating on both passenger and pedestrian safety and adopting vehicle safety requirements, automotive manufacturers and automotive component suppliers have been spending heavily on the research and development of safety systems. Fast technological advances in the automotive sector are likely to play a significant role in the worldwide headlight control module market in the forecasted and historical period.
Industry Definition and Major Segments
The headline control module is a computerised electronic component placed in cars to control the lighting function. This component is also in charge of managing the operation of vehicle horns. The majority of the components in the headlight control module are responsible for the proper operation of the headlight. The headlight control module offers an automated high beam, which is useful while driving, especially on highways. It works by automatically switching between high and low beams in response to traffic coming from the other direction.
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The market for headline control module based on technology is divided into halogen, led, xenon. The bifurcation on the basis of function on/off function, bending/cornering, high beam assist, and headlight levelling. The industry on the basis of vehicle type is segmented into passenger car and light commercial vehicle.
A rise in the demand for and sales of luxury automobiles will bolster the demand for the headlight control module. A rise in car production and increased sales and demand for commercial vehicles because of the region’s increasing logistics business (mainly due to the region’s thriving e-commerce sector) and construction industry. Increased sales of low-cost automobiles due to an increase in middle-class buyers’ disposable money has affected the growth of the headline control module industry. An increase in the frequency of accidents, particularly at night, is one of the main causes of the sector’s growth and led to a rise in the Headlight Control Module Market expansion.
Key Market Players
The major players in the market are Magneti Marelli [Ck Holdings Co. Ltd.], Valeo, ZKW [ZKW Group GmbH], Renesas Electronics Corporation [6723 (TYO)], Lear Corporation [LEA (NYSE)], HELLA GmbH & Co. KGaA [HLE (ETR)] and Continental AG [CON (ETR)]. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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