Passenger Car Segment to Dominate Global Adaptive Front Light Market: TechSci Research

Favorable government policies, surging demand for safety features, technological advancements and high sales of automobiles to boost global adaptive front light market through 2023

According to TechSci Research report, “Global Adaptive Front Light Market By Vehicle Type, By Technology, By Region, Competition, Forecast & Opportunities, 2013 – 2023”, global adaptive front light market is projected to grow at a CAGR of around 13% during 2018-2023, on the back of increasing inclination of manufacturers towards adaptive front light systems. Moreover, government regulations towards the safety of passengers and technological advancements are aiding the market growth. Another factor positively influencing the market growth is high disposable income and high sales of automobiles. Moreover, growing acceptance of intelligent lighting and declining prices of LED are driving the global adaptive front light market.

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In terms of vehicle type, passenger car segment dominated the market in 2017 and is anticipated to continue its market dominance through 2023, on account of high sales of used and new passenger cars and increasing average lifetime of passenger cars. The automotive lighting market is on a transitional shift from traditional lighting technologies to Xenon, LED, laser and OLED. Due to the early inception of Xenon, the technology segment acquired the majority share in 2017. However, due to lowering prices of LED, LED technology segment is expected to grow at the highest CAGR through 2023.

Prominent automotive lighting giants such as Koito Manufacturing co., ltd., STANLEY ELECTRIC CO., LTD., Magneti Marelli S.p.A, Valeo S.A., Varroc Lighting Systems, Inc., HELLA GmbH & Co. KGaA, Johnson Electric Holdings Limited, OSRAM Licht AG, Neolite ZKW Lightings Pvt. Ltd. & Hyundai Mobis Co., Ltd.., among others are continuously enhancing and expanding their product offerings to attract more customers towards their products. In 2017, Europe & CIS region dominated the global adaptive front light market, backed by technological advancements and presence of major players in the region. Asia-Pacific is expected to register fastest growth in global adaptive front light market in coming years, owing to high production and sales in developing economies such as China and India.

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“Rapid growth in automotive industry, swelling passenger car sales embedded with the latest technologies and growing purchasing power of consumers across the globe are expected to drive the growth of global adaptive front lighting market. Moreover, factors like low carbon dioxide from LED or Xenon front light when compared with traditional halogen light are anticipated to have a positive impact on the market in coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Adaptive Front Light Market By Vehicle Type, By Technology, By Region, Competition, Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of global adaptive front light market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global adaptive front light market.

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