Automotive high brightness LED head lamps Market Overview
Automakers across the globe are turning towards LED headlamps to achieve brighter light for the vehicles. Furthermore, modern LED headlamps have longer lifespan and offer outstanding light intensity.
Market Size and Forecast
Global automotive high brightness LED head lamps market is anticipated to grow at a considerable compound annual growth rate (CAGR) over the forecast period. The market of automotive high brightness LED head lamps is projected to grow on the back of rising automotive industry across all regions.
Regionally, the global automotive high brightness LED head lamps market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa regions. Further, the automotive industry in Asia Pacific region is witnessing remarkable expansion on the account of rapid urbanization and rising sales of new vehicle in Asian countries such as China and India. Presence of large base of automotive manufacturing plants is increasing the production of new vehicles in Asia pacific which in turn increasing the demand for numerous auto parts and accessories such as automotive high brightness LED head lamps in this region. These factors are predicted to drive the growth of market of automotive high brightness LED head lamps in Asia Pacific over the forecast period.
Apart from Asia Pacific, North America automotive high brightness LED head lamps market is poised to display substantial growth over the forecast period. Further, rising sales of new cars and increased spending on maintenance and replacement of auto parts in old vehicles are likely to be the major factors which are predicted to bolster the growth of automotive high brightness LED head lamps market in North America region. Apart from this, U.S. is likely to contribute significantly in the growth of automotive high brightness LED head lamps market in North America due to factors such as newer car owners are spending high on appearance products and upsurge aftermarket in North America region.
The global automotive high brightness LED head lamps market is further segmented by vehicle type into passenger cars, light commercial vehicles and heavy commercial vehicles. Furthermore, passenger cars segment is expected to grow at maximum pace over the forecast period. Various automakers are turning towards LED head lamps and installing them into new premium and luxury passenger cars. This factor is likely to drive the growth of this segment over the forecast period.
Market Segmentation
Our in-depth analysis has segmented global automotive high brightness LED head lamps market into the following segments:
By Sales Channel
- Aftermarket
- OEM
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Region
Global automotive high brightness LED head lamps market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers & Challenges
Automotive high brightness LED head lamps market is a flourishing market in automotive sector. Rising preference for LED head lamps over other head lamps is intensifying the marker size of automotive high brightness LED head lamps market across all regions.
Furthermore, numerous advantages of automotive high brightness LED head lamps over other headlamps such as better light intensity, longer lifespan and low power consumption are key reasons which are why automakers are turning towards high brightness LED head lamps across all regions.
Additionally, easy installation, high performance and design flexibility of high brightness LED head lamps are also expected to bolster the growth of market across all regions. Consumers are spending significantly on maintenance, repair and other appearance products such as high brightness LED head lamps. This factor is expected to enhance the growth of high brightness LED head lamps market in upcoming years.
Rising production of new vehicles and increasing number of new automobile manufacturing plant is expected to escalate the demand for automotive headlamps equipment during the forecast period. Thus, expanding global vehicle fleet and strengthening aftermarket sales channel is predicted to hamper the growth of market over the forecast period.
Likely, LED head lamps offer better night vision even in extreme weather conditions. This factor is also escalating the demand for high brightness LED head lamps market across all regions.
However, high cost of LED head lamps and presence of other alternatives are expected to limit the growth of high brightness LED head lamps market over the forecast period.
Top Featured Companies Dominating The Market
- OSRAM GmbH
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- HELLA GmbH & Co. KGaA
- Koninklijke Philips N.V.,
- North American Lighting, Inc.
- KOITO MANUFACTURING CO.,LTD
- GENERAL ELECTRIC COMPANY
- PIAA Corporation
- Apex Holdings, Inc.
- ZKW Group
- Wipac
- Other Notable Players
Author Credits: Saima Khursheed
- Report ID: 589
- Published Date: Feb 13, 2023
- Report Format: PDF, PPT
