Increasing pervasiveness of purchasing vehicles, specifically passenger vehicles, is expected to drive the growth of the headlight control module market
The headlight control module market worldwide is expected to grow with a CAGR of 4.2% during the forecast period from 2019 to 2027, starting from US$ 3.44 Bn in 2018. The headlight control module for the high beam adaptation during night vision applies an embedded design approach. In October 2018, Hella launched a smart headlight technology research project for the efficient development of intelligent headlamps.
The project aims towards developing an intelligent headlamp that not only identifies probable changes in performance at a very early stage but is also very capable of reimbursing for them. Nevertheless, the requirement of substituting the complete LED lighting system if the bulb is blown or fused with no probability of fixing the lights is projected to restrict the growth of the market.
High Beam Assist to Continue Dominating the Market
A headlight control module used for the purpose of providing an automatic high beam is advantageous for driving, especially on the highways, as it mechanically switches between the high beam and the low beam depending on the approaching traffic from the opposite direction. Regulations regarding driving and lighting, combined with increasing traffic and rising consumer awareness regarding safety while driving, are estimated to drive the market growth of this segment during the forecast period.
Asia Pacific to Register the Fastest Growth
Asia Pacific is expected to maintain the fastest growth rate in the global headlight control module market, primarily due to very high consumer adoption and the high sales of automobiles. Japan and China reaped the largest market shares within the Asia Pacific market because of high production and heavy sales of vehicles at the domestic level. Moreover, producers in these countries majorly focus on the technological advancements comprising lighting, therefore driving the market demand for headlight control modules. The rise in consumer per capita income and the high sales of SUVs in emerging economies like India are expected to drive the market furthermore.
There has been a very high demand for headlight control because of the heavy increase in premium car sales. The growing adoption of these modules in lower and mid-range cars is projected to open up new opportunities for growth of this market in this region throughout the forecast period.
Some of the prominent players operating in the headlight control module market include Hella, Valeo, Continental, Denso, Hyundai Mobis, Aptiv, Osram, Magnetic Marelli, ZKW, Renesas, and Lear Corporation, among others.
Historical and Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The headlight control module market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global headlight control module market based on technology, function, vehicle type, and geography. Key segments covered in the report are as follows:
Key questions are answered in this report
What was the market size of headlight control modules in 2018, and what is the forecast up to 2027?
Which is the largest regional market for headlight control modules?
What are the major trends followed in the overall Headlight Control Module across different regions?
Who are the key headlight control module companies leading the market?
What are the key strategies adopted by the leading headlight control module companies in the market?
Unique data points of this report
Statistics on Headlight Control Module penetration and spending worldwide
Recent trends across different regions in terms of the adoption of the headlight control module across various applications
Notable developments are going on in the Headlight Control Module.
Attractive investment propositions for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
Frequently Asked Questions:
The market for Headlight Control Module Market is expected to reach US$ 3.44 Bn by 2027.
The Headlight Control Module Market is expected to see significant CAGR growth over the coming years, at 4.2%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Hella, Valeo, Continental, Denso, Hyundai Mobis, Aptiv, Osram, Magnetic Marelli, ZKW, Renesas, and Lear Corporation are some of the major players in the global market.
