LONDON--(BUSINESS WIRE)--A new market research study by Technavio on the global automotive halogen headlights market projects the market to post a CAGR of below -4%. However, during the forecast period, the market is expected to decelerate on a year-over-year basis during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers, and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
Lower cost benefits of halogen headlights over other headlight types
Halogen bulbs are the most economical option for the headlights in automotive vehicles. The substantial cost savings from the adoption of halogen headlights is the prime reason for the dominance of halogen headlights in the automotive industry. In recent times, automotive OEMs are adopting halogen projector headlights for the top models in the compact vehicle segment to create differentiation in their vehicles. This development offers automotive OEMs a cost-effective way of providing differentiation in the highly competitive compact vehicle segment. Therefore, the lower cost of halogen headlights is to remain a crucial driver for their adoption in the automotive market during the forecast period.
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Growing use of dual-beam bulbs in automotive headlights
The global automotive halogen headlights market is witnessing an increase in popularity of dual-beam bulbs in headlights. Dual-beam halogen headlight bulbs have dual filaments that produce a dual-beam pattern comprising of a high beam and a low beam. Hence, the adoption of dual-beam headlight bulbs reduces the total number of bulbs in the headlights by half, as only one bulb is needed in the headlight assembly. Dual-beam headlights also require less space when compared with headlights that incorporate two separate headlight bulbs for high beam and low beam. Thus, with such benefits, it is expected that the market for automotive halogen headlights market will witness a positive outlook during the forecast period.
According to a senior analyst at Technavio, “The demand for passenger cars is growing, especially in emerging economies. This growing demand can be attributed to factors such as increased global trade activities and high economic growth in these countries. Intense competition and market saturation in developed countries have encouraged automotive manufacturers to invest in emerging economies. Since entry-level vehicles mostly use halogen headlights, increasing sales in developing countries is bound to drive the growth of the automotive halogen headlights market.”
Growing popularity of LED and laser headlights
Laser and LED headlights are some of the most advanced and modern lighting technologies used in automobiles today. These headlights are small and compact and provide better illumination range than halogen headlights. The adoption of laser and LED headlights is expected to increase further during the forecast period, especially in the luxury car segment. This will pose a challenge to the growth of the automotive halogen headlights market. However, due to the introduction of dual-beam bulbs and double barrel headlights, the market is expected to showcase a positive outlook in the coming years.
Top players in the global automotive halogen headlights market:
- KOITO MANUFACTURING
- Magneti Marelli
- Varroc Group
Some of the key topics covered in the global automotive halogen headlights market include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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