Automotive LED Headlamps Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2020-2024

The automotive LED headlamps market share is expected to increase by USD 2.34 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 14.13%.

This automotive LED headlamps market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive LED headlamps market segmentation by application (passenger cars, commercial vehicles, and others) and geography (APAC, North America, Europe, South America, and MEA). The automotive LED headlamps market report also offers information on several market vendors, including Hella GmbH & Co. KGaA, Koito Manufacturing Co. Ltd., Koninklijke Philips NV, LG Electronics Inc., Lumax Industries Ltd., OSRAM GmbH, Samsung Electronics Co. Ltd., Stanley Electric Co. Ltd., Valeo SA, and Varroc Engineering Ltd. among others.

What will the Automotive LED Headlamps Market Size be During the Forecast Period?

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Automotive LED Headlamps Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The need for energy-efficient lighting systems is notably driving the automotive LED headlamps market growth, although factors such as the adoption of laser lighting in automobiles may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive LED headlamps industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive LED Headlamps Market Driver

The need for energy-efficient lighting systems is notably driving the automotive LED headlamps market growth. Growing environmental concerns and government initiatives primarily drive the EV market. The efficiency of lighting systems plays a vital role in automobile safety. Hence, OEMs and suppliers of automotive headlamps are increasingly focused on providing an efficient lighting system in vehicles. The automotive headlamps market is witnessing a decline in halogen headlamp demand due to the evolution of advanced lighting systems, such as LED and high-intensity discharge (HID) lamps. Even though LED and HID are expensive compared to halogen lamps, features like low energy consumption, high range, increased light output, and extended lifespan increase their popularity. In the case of light output, LED headlamps can illuminate a greater distance as compared to halogen headlamps. These factors will drive the global automotive LED headlamps market during the forecast period. 

Key Automotive LED Headlamps Market Trend

The introduction of laser headlamps is the key market trend driving the automotive LED headlamps market growth. The adoption of laser technology in headlamps is a breakthrough for the automotive industry. The laser technology will provide extremely focused light, which will enhance the driver's control over the vehicle, especially during low-light conditions. The primary benefit of these headlamps with laser technology is that the drivers get the longest visibility range compared with any other currently available headlight technologies. This offers increased road traffic safety. Also, the adoption of laser technology will reduce the size of headlamps enabling automotive designers to enhance vehicle designs. The technology is already found in BMW i8 and Audi R8 LMX and is expected to be adopted in other vehicles during the forecast period. Laser headlamps are more powerful than LED headlamps and thus better substitutes. Therefore, the increase in the adoption of this technology in the future would negatively impact the global automotive LED headlamps market. 

Key Automotive LED Headlamps Market Challenge

The major challenge impeding the automotive LED headlamps market growth is the adoption of laser lighting in automobiles. Automotive headlamp technologies are evolving continuously. Developments in automotive headlamps are mainly concentrated on improving efficiency by reducing power consumption. These lights involve the projection of a blue laser onto a diode, which produces diffused white light. Their size is ten times smaller than LEDs. Laser headlights have a strong luminance and long-range when compared with other lighting products in the market. This enables manufacturers to keep laser headlights small and compact, without affecting the light intensity. The illumination range of halogen headlights is just over 90 meters, while it is more than 500 meters in laser headlights. In addition, laser headlights offer enhanced visibility, resulting in improved traffic safety. The adoption of laser headlights will increase in the luxury car segment, which will be a challenge for the global automotive LED headlamps market. 

This automotive LED headlamps market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global automotive LED headlamps market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive LED  headlamps market during the forecast period.

Who are the Major Automotive LED Headlamps Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Hella GmbH & Co. KGaA
• Koito Manufacturing Co. Ltd.
• Koninklijke Philips NV
• LG Electronics Inc.
• Lumax Industries Ltd.
• OSRAM GmbH
• Samsung Electronics Co. Ltd.
• Stanley Electric Co. Ltd.
• Valeo SA
• Varroc Engineering Ltd.

 

This statistical study of the automotive LED headlamps market encompasses successful business strategies deployed by the key vendors. The automotive LED headlamps market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• OSRAM GmbH - The company offers fog lamps such as LEDriving FL H10, LEDriving FL PSX24W. It offers signal lamps such as LEDriving SL P21W RED, LEDriving SL P21W WHITE. Besides these, the company offers other products as well.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive LED headlamps market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive LED Headlamps Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive LED headlamps market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Automotive LED Headlamps Market?

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44% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the automotive LED headlamps market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

An increase in the income levels and the expanding middle-class population will facilitate the automotive LED headlamps market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

An increase in the number of COVID-19 cases in various countries like China and India impacted the growth of the automotive LED headlamps market in APAC in 2020. For instance, the number of people affected by COVID-19 has been increasing in China, South Korea, India, and Malaysia. The outbreak of COVID-19 in the region drastically impacted various business operations, which, in turn, will affect the demand for automotive LED headlamps in this region during the forecast period.  

What are the Revenue-generating Application Segments in the Automotive LED Headlamps Market?

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The automotive LED headlamps market share growth in the passenger cars segment will be significant during the forecast period. LED headlamps are increasingly replacing halogen headlamps in passenger cars due to their benefits like energy efficiency and long lifespan. The passenger car segment of the global automotive LED headlamps market is witnessing technological advancements, which will increase the demand for LED headlamps during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive LED headlamps market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive LED Headlamps Market Scope
Report Coverage	Details
Page number	120
Base year	2019
Forecast period	2020-2024
Growth momentum & CAGR	Accelerate at a CAGR of 14.13%
Market growth 2020-2024	$ 2.34 billion
Market structure	Concentrated
YoY growth (%)	13.00
Regional analysis	APAC, North America, Europe, South America, and MEA
Performing market contribution	APAC at 44%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Hella GmbH & Co. KGaA, Koito Manufacturing Co. Ltd., Koninklijke Philips NV, LG Electronics Inc., Lumax Industries Ltd., OSRAM GmbH, Samsung Electronics Co. Ltd., Stanley Electric Co. Ltd., Valeo SA, and Varroc Engineering Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Automotive LED Headlamps Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive automotive LED headlamps market growth during the next five years
• Precise estimation of the automotive LED headlamps market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive led headlamps industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive LED headlamps market vendors

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