Global Automotive Adaptive Lighting Market 2019 Competition, Trade Overview and Development to 2023

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.

Segmental Overview

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.

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Regional Outlook

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.

Key Players

MRFR has listed some of the prominent key players that are operating in the automotive adaptive lighting market. They are; 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.

Related news: Automotive Adaptive Lighting Market: 2019 Global Analysis, Size, Trends, Potential Growth, Share, Competitive Landscape, Regional Analysis With Industry Forecast To 2023

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

At Market Research Future (Mrfr), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (Crr).