CHICAGO, July 5, 2019 /PRNewswire/ -- According to the new market research report "Headlight Control Module Market by Technology (Halogen, LED, Xenon), Application (On/Off, Bending/Cornering, High Beam Assist, and Headlight Leveling), Vehicle Type, Passenger Vehicle Segment, And Region- Global Forecast to 2027", published by MarketsandMarkets™, the Headlight Control Module Market is estimated to be USD 3.6 billion in 2019 and is projected to reach USD 5.0 billion by 2027, at a CAGR of 4.3%.
Rising disposable income has resulted in an increase in consumer spending capability to purchase premium vehicles, which, in turn, is expected to drive the growth of the market. Government initiatives for implementing adaptive lighting to increase the driver's safety and the rising sales of SUVs are likely to propel the growth of the market further.
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19 – Tables
113 – Figures
162 – Pages
SUV B segment expected to be the fastest growing segment in the headlight control module
SUV B segment is expected to witness an increase in penetration for adaptive headlamps in accordance with safety regulations implemented by various regulatory bodies. Additionally, the anticipated decreasing prices of these modules are expected to open opportunities for the growth of the market over the forecast period. Moreover, the increasing sales of SUV Bs in emerging economies, including India, are expected to boost the market growth for the headlight control module in this segment.
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Headlight control module used for high beam assist is expected to lead the market
High beam assist is the most critical application for adaptive headlights as it provides the driver to switch between different headlight intensities while driving. Headlight control module for high beam assist has a higher penetration level in passenger vehicles. Moreover, many leading suppliers, such as Hella and Valeo are actively working on the advancements in the headlight control modules used for this application.
Asia Pacific to continue being the largest consumer of headlight control modules
China was the largest manufacturer and consumer of the headlight control module due to the presence of a robust automobile production base and huge domestic sales of cars. Other Asian countries such as Japan, Korea, and India showcased promising growth for the years 2017–2018 and the trend will continue till 2027. The Asian market is a production hub for the European and North American headlight control module manufacturers. Thus, the growing global sales of automobiles is expected to drive the growth of the headlight control module industry.
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The Headlight Control Module Market is dominated by Hella (Germany), Valeo (France), Continental (Germany), Denso (Japan), Hyundai Mobis (South Korea), Aptiv (Ireland), Osram (Germany), Magnetic Marelli (Italy), ZKW (Austria), Renesas (Japan), Lear Corporation (United States), Koito (Japan), NXP (Netherlands), Keboda (China), and Keetec (Slovakia).
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