An automotive headlight is a major component of the vehicle, as it helps a driver to avoid pits and bumps on the road while driving at night or in low light conditions. It also provides visibility to the driver or rider in bad weather conditions. Lights are also utilized to enhance the esthetic appearance of the vehicle. LED lights and energy saving bulbs are employed to minimize energy consumption. The most common types of vehicle headlights include LED, halogen, and xenon.
Expansion of the global automotive industry in the last few years has fueled the associated industries, such as automotive accessories and its components industry. Rise in demand for automobiles, due to increase in disposable income and surge in customer spending on esthetics of the vehicle across the global, is projected to drive the automotive headlight aftermarket during the forecast period. The automotive headlight is not only used for enhanced visibility, but it is also plays an important role in improving the esthetic appeal of the vehicle, provides assurance of safety, security, and better performance. Additionally, implementation of stringent laws related to safety is anticipated to propel the global automotive headlight aftermarket during the forecast period. However, increasing competitiveness from OEMs is a major factor that restrains the automotive headlight aftermarket.
The global automotive headlight aftermarket can be segmented based on vehicle type, light type, sales channel, and region. Based on vehicle type, the aftermarket can be divided into passenger vehicle, commercial vehicle, off-highway vehicle, and electric vehicle. Increase in demand for passenger vehicle across the globe fuels the automotive headlight aftermarket. Presently, demand for electric vehicles is increasing, which in turn, is driving the automotive headlight aftermarket. In terms of light type, the aftermarket can be segregated into halogen, LED, laser, and xenon. Halogen and LED lights are used extensively, as halogen lights provide bright light and LED lights last longer and are energy-efficient. The LED segment is projected to expand at a considerable pace during the forecast period, as these lights consume less energy. In terms of sales channel, the market can be classified into aftermarket. Demand for automotive headlight aftermarket depends on the production and use of vehicles. Production is expected to increase due to the rise in standard of living in developing nations and increase in safety standards. In terms of region, the global automotive headlight aftermarket can be split into Asia Pacific, Middle East & Africa, North America, Latin America, and Europe. Asia Pacific is a major manufacturer and consumer of automobiles; therefore, it will lead to the demand for automotive headlight is high. Hence, the region accounts for a large share of the global automotive headlight aftermarket.
Key players operating in the global automotive headlight aftermarket include Philips Automotive, ox Lux, FIEM Industries, HELLA GmbH & Co. KGaA. Pacific Insight Electronics Corp., Infineon Technologies AG, Arkema Group, OSRAM, Robert Bosch, Valeo, SORAALASER, ZKW Group, and HORPOL J.I.A.T. Horeczy Sp. J.
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