LONDON--(BUSINESS WIRE)--The global automotive projector headlamps market is expected to post a CAGR of nearly 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Automobile manufacturers are introducing bi-xenon and bi-LED headlamps that provide the same brightness as conventional xenon or LED lights. The design of bi-xenon and bi-LED headlamps require a fewer number of lights, which significantly reduces the cost. Moreover, they provide both high beam and low beam from a single light by moving the projection angle of the light or by dimming the light. Such cost and functional advantages are increasing the adoption of bi-xenon and bi-LED projector headlamps in automobiles, especially in the passenger car segment.
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As per Technavio, the development of laser headlamps will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Projector Headlamps Market: Development of Laser Headlamps
Vendors in the market are focused on the development of laser headlamps as they provide better road visibility compared to other projector headlamp types. They also consume less power, which is a crucial factor in electric vehicles. Moreover, laser headlights lave a longer lifespan and do not have any moving parts or filaments to burn. The development of laser headlamps is expected to improve the profit margins of vendors during the forecast period.
“Apart from the development of laser headlamps, development of adaptive front lighting systems and the development of high luminance LED for projection headlamps are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Automotive Projector Headlamps Market: Segmentation Analysis
This market report segments the global automotive projector headlamps market by type (halogen, LED, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growing demand for luxury vehicles in China and India.
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Some of the key topics covered in the report 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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