Global Adaptive Front Light Market Overview
Global adaptive front light market is projected to grow from $1.3 billion in 2017 to $ 2.6 billion by 2023, exhibiting a double digit CAGR of around 13% during the forecast period, on the back of booming automotive industry. Adaptive front light offers optimized vision to the driver during poor-sight conditions of the road during night. Based on the driving circumstances like vehicle speed and steering input, adaptive front light system points the low-beams headlights in the direction the driver intends to travel. Moreover, stringent government regulations for the safety of passengers and increasing awareness among individuals are aiding the market growth.
Global Adaptive Front Light Market Segments
In terms of vehicle type, global adaptive front light market has been segmented into passenger car and commercial vehicle. Passenger car dominated the market in 2017 and is expected to maintain its market dominance during the forecast period, owing to surging passenger car sales. In terms of technology, the market for adaptive front light can be segmented into LED, laser, OLED and Xenon. The global adaptive front light market is transitioning from traditional lighting technologies to LED and Xenon. Xenon dominated the market in 2017 and is expected to continue its market dominance in coming years, on account of its early inception.
Global Adaptive Front Light Market Regional Insights
Global adaptive front light market is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe & CIS, South America and Middle East & Africa. Europe and CIS is the leading region in global adaptive front light market, owing to well-established automotive industry in the region. Moreover, presence of major manufacturers in the region is positively impacting its growth. Asia-Pacific adaptive front light market is anticipated to register fastest growth rate during the forecast period, owing to government initiatives in developing economies such as India and China, in addition to high production and sales of automobiles in the region.
Global Adaptive Front Light Market Competitive Landscape
Major players operating in global adaptive front light market include 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., etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. Johnson Electric acquired Stackpole International for the development of new technologies in order to meet the changing needs of the industry.
Years considered for this report:
Historical Years: 2013-2016
Base Year: 2017
Estimated Year: 2018
Forecast Period: 2019-2023
Objective of the Study:
- To analyze and forecast global adaptive front light market size.
- To classify and forecast global adaptive front light market based on vehicle type, technology type and regional distribution.
- To analyze and forecast global adaptive front light market with respect to vehicle type: passenger car and commercial vehicle.
- To analyze and forecast global adaptive front light market with respect to technology: LED, Xenon, Laser and OLED.
- To analyze and forecast global adaptive front light market with respect to region: Europe & CIS, Asia-Pacific, North America, South America and Middle East & Africa.
- To identify drivers and challenges for global adaptive front light market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global adaptive front light market.
- To identify and analyze the profile of leading players operating in global adaptive front light market.
Some of the leading players operating in global adaptive front light market are 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.., etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the globe.
TechSci Research calculated global adaptive front light market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, European Association of Automotive Suppliers, World Electric Vehicle Association, Japan Auto Parts Industries Association and financial reports were also studied by TechSci Research.
Key Target Audience:
- Adaptive front light manufacturers and other stakeholders
- Government bodies such as regulating authorities and policymakers
- Organizations, forums and alliances related to adaptive front light market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, partners and end users. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities.
In this report, global adaptive front light market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Vehicle Type:
o Passenger Car
o Commercial Vehicle
- Market, by Technology Type:
- Market, by Region:
? South Korea
? Rest of Region
o Europe & CIS
? United Kingdom
? Rest of Region
o North America
? United States
o Middle East & Africa
? South Africa
? Saudi Arabia
? Rest of Region
o South America
? Rest of Region
Company Profiles: Detailed analysis of the major companies operating in global adaptive front light market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).