Global Automotive LED Headlamps Market 2018-2022
About Automotive LED Headlamps
Automotive LED headlamps use light emitting diodes for generation of light instead of halogen or xenon lamps
Technavio’s analysts forecast the global automotive LED headlamps market to grow at a CAGR of 30.48% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive LED headlamps market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive LED Headlamps Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive LED headlamps market: HELLA, KOITO MANUFACTURING, Magneti Marelli, STANLEY ELECTRIC, and Valeo.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is bend lighting headlamps with LED technology. Automotive designers are increasingly adopting bendable lighting headlamps as this technology ensures maximum visibility for the driver and enables around-the-corner lighting. The inclusion of LED lighting technology helps them to easily manufacture bendable lighting headlamps.”
According to the report, one driver in the market is need for energy efficient lighting systems. A large number of OEMs and suppliers are adopting efficient lighting system in their vehicles due to the growing government concerns and government initiatives and vital role of lighting system in automobile safety.
Further, the report states that one challenge in the market is high cost of LEDs. A major challenge for the global automotive LED headlamps market is the high cost of LEDs. LEDs cost more than their current substitutes, such as halogen or HID lamps. LEDs have witnessed market growth due to their energy efficiency and longer lifespan.
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