According to a new market research report published by Credence Research “Headlight Control Module Market (Technology – Led, Halogen, Xenon; Function – On/Off Function, High Beam Assist, Bending/Cornering, Headlight Leveling; Vehicle Type – Passenger Car, Light Commercial Vehicle) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall headlight control module market worldwide was valued at US$ 3.44 Bn in 2018 and is set to grow with a CAGR of 4.2% during the forecast period.
The overall headlight control module market is highly driven by the increasing innovative features in vehicles such as high beam/low beam, adaptive lighting system, automatic on/off, leveling & cornering. Major market players like Valeo, Hella, Denso, Continental and Hyundai Mobis are coming up with newly developed technologies in terms of headlights. LED headlights are being offered usually in premium vehicles due to their numerous benefits like more adaptive feature, less power consumption and aesthetically appealing appearances. Due to these features, LED is being considered as the major market for the headlight control modules and it is expected to carry on in the forecast period also.
There has been a very high demand for the headlight control because of the continuous increase in the premium car sales. Growing adoption of headlight control modules in lower and mid-segment cars is anticipated to open up new opportunities for the growth of the headlight control module market during forecast period. Better visualization and lighting while on the difficult roads along with the assistance for the drivers during turning is also projected to foster the growth of the headlight control module market value.
Based on technology, headlight control module that is being used for the LED headlight technology is projected to maintain fastest growth during the forecast period. The segment is followed by the Halogen segment. In the following years, headlight control module market for passenger vehicle division is projected to grow more rapidly in comparison to the light commercial vehicle category. Rising sales of the passenger vehicles, combined with the inclination of the consumers to pay additional for the personal cars, are estimated to drive the market in this segment.
Further, based on function, high beam assist continues to enjoy the major market share throughout the forecast period. Based on the geography, Asia Pacific dominates the market with revenue share of more than 40% across the globe. The market here is governed by China and Japan due to the very high production and vehicle sales domestically along with technological advancement in lighting category. Rise in consumer per capita income combined with high volume sales of the SUVs in the emerging economies like India will drive the APAC market further.
Some of the major companies profiled in the report include Hella, Valeo, Continental, Denso, Hyundai Mobis, Aptiv, Osram, Magnetic Marelli, ZKW, Renesas, Lear Corporation among others.
Browse the full report at https://www.credenceresearch.com/report/headlight-control-module-market
The Global Headlight Control Module Market is Segmented into:
|Segmentation||By Technology Type Segment (2017–2027; US$ Bn)|
|By Function Type Segment (2017–2027; US$ Bn)|
|By Vehicle Type Segment (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page