Since the automotive industry is currently in an evolving phase, with certain advancements being progressively made regarding road safety, the demand for road safety devices has increased in the past few years. Moreover, a rising number of road traffic accidents and fatalities has escalated the demand for road safety devices and driver monitoring devices. An adaptive front light is a device that adapts according to the current environmental change and also adjust the light beam according to the vehicle approaching nearby.
The beam of the adaptive front light bends according to the changing direction of the driver’s car. OEMs provide adaptive front lights to enhance the exterior aesthetics of the vehicles. Due to its useful properties such as being lightweight, compact, and flexibile, the OEMs use it as a brand imager and product differentiator.
According to the MarkNtel Advisors’ research report titled “Global Adaptive Front Light Market Analysis, 2020”, the CAGR for Adaptive Front Light market is expected to be around 12% during 2020-25. Due to a widespread presence of OEMs in the regions, North America and Europe dominated the market, followed by Asia-Pacific in 2019.
Asia-Pacific region is witnessing a surge in demand for the adaptive front light market and is anticipated to grow during 2020-25 owing to the rising demand for luxury vehicles, which comprise pre-incorporated adaptive front lights. Moreover, the passenger vehicle segment dominated the market in 2019 and is anticipated to prevail as a dominant component in the forthcoming years due to an extensive use of these lights in high-end luxury cars. However, the high prices of the raw material of front lights restricts the growth of the Asia-Pacific Global Adaptive Front Lights market.
Xenon Light Dominated the Market in 2019
Xenon lights held a larger market share as compared to the LED lights in 2019. The xenon light produces white light similar to sunlight enabling the clear vision to the driver. However, the demand for LED light is gradually increasing due to proper optimization of clear vision. Xenon lights are used in passenger vehicles as well as commercial vehicles. With an increasing production of the passenger vehicles, the demand for xenon adaptive front lights is expected to surge in coming years. Adaptive front lights are used primarily in the high-end luxury cars as well as in trucks and buses to provide better vision to the driver and also to improve safety standards. Total sales of global passenger cars exceeded 70 million during 2018.
Moreover, with the growing logistics industry and e-commerce industry, the demand for commercial vehicles has surged recently. The truck owners and bus drivers take extra measures for road safety enhancing the demand for adaptive front lights in the coming years.
According to the MarkNtel Advisors, the major leading players are Stanley Electric, Hella, Valeo, Margetti Mareli, OSRAM, Varroc, Koito, Neolite, Johnson Electric, and Robert Bosch, among others. The mergers and acquisitions by these companies for the expansion of their respective portfolio in the industry are leading to a stiff competition among the players operating in the industry. Companies are launching innovative forms of technology to improve their customer base.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What would be the growth rate or CAGR of Global Adaptive Front Light Market during 2020-25?
A. The market size of Global Adaptive Front Light Market during 2020-25 is forecast to be around 12%.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that North American and Europe will dominate the market with majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating in Global Adaptive Front Light Market?
A. Stanley Electric, Hella, Valeo, Margetti Mareli, OSRAM, Varroc, Koito, Neolite, Johnson Electric, and Robert Bosch are few of the leading players in the Global Adaptive Front Light Market.
Q. Does the report scope cover Global Adaptive Front Light vehicle type and region wise market statistics also?
A. Yes, the scope of the report encompass detailed Global Adaptive Front Light vehicle type and region wise statistics such as market size, market segmentation based on various subcategories.
Q. Which technology segment would emerge as an opportunity area for players in Global Adaptive Front Light Market?
A. The Xenon light has the largest market share that will continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Adaptive Front Light Market.
