How progressive trends influencing the growth prospects of the Automotive Halogen Lights market?

Automotive Halogen Lights Market: Introduction

• Halogen lights are one of the oldest form of automotive lighting and are widely used in countries across the globe due to their moderately high efficiency, quality of light, and rated life as compared to that offered by other incandescent lamps.
• Halogen lights contain a tungsten filament and a capsule of halogen gas. The tungsten filament evaporates slowly, which leads to blackening of the bulb. The halogen gas in the bulb reacts with this evaporated tungsten to prevent the blackening, which increases the life and light quality of the bulb.

Key Drivers of Automotive Halogen Lights Market

• Steady rise in economic conditions of the global population coupled with an increase in need for mobility is propelling the sale of vehicles. The International Organization of Motor Vehicle Manufacturers (IOCA) stated that motorization rate was 471 per 1000 inhabitants in 2015. This motorization rate has been increasing then since. It is projected to continue to rise in the next few years. Rise in sale of vehicles is fueling the demand for automotive parts. Lighting is a vital component of every vehicle and has a high impact on the safety of vehicles. Halogen lights are extensively utilized in automotive lighting due to their unique characteristics, such as high resistance to humidity and UV light. Furthermore, halogen lamps provide better visibility, which in turn enhances driving comfort and safety. Thus, an increase in sale of vehicles is driving the automotive halogen lights market across the globe.
• Changing customer expectations from the automobile and a rise in literacy levels have placed automotive safety as a top criteria while purchasing a new vehicle. Hence, automakers are increasingly integrating better technologies in their vehicles, which enhance the overall ride experience and safety of vehicles. Halogen lamps are compact in size, available at a low cost, provide instant full brightness, and have a longer lifespan as compared to conventional incandescent lamps. Companies such as OSRAM GmbH are launching new halogen lights that provide extra brightness, longer beams, and whiter light, which enables to identify hazards easily and assists drivers to react quickly. Thus on-going transformations in customer expectations and halogen light technologies are anticipated to drive the global automotive halogen lights market during the forecast period.

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Challenges in Automotive Halogen Lights Market

• Rising adoption of xenon lamps, light emitting diode (LED) lights, organic light-emitting diode (OLED) lights and other such new automotive lights, owing to their advantages over halogen lights, is anticipated to hamper the global halogen lights market during the forecast period.

Impact of COVID-19 pandemic on Automotive Halogen Lights Market

• Recent outbreak of COVID-19 pandemic disrupted automotive supply chains, thus creating a shortage of raw materials and components. Many nations across the globe are now facing the second wave of this pandemic which is further hampering the automotive industry and in-whole the global economy. This disruption has negatively impacted the global automotive halogen lights market.

Asia Pacific to hold Significant Share of Automotive Halogen Lights Market

• Consistent rise in production and sale of automobiles in Asia Pacific is boosting the demand for halogen lights. The automotive industry in countries such as China, Japan, and India is expanding significantly due to favorable government policies and high consumer demand. This rise in automotive production and sales is propelling the automotive halogen lights market in Asia Pacific.

Key Players Operating in Automotive Halogen Lights Market

The global automotive halogen lights market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the global automotive halogen lights market are:

• Aamsco Lighting
• AUTOLITE INDIA LIMITED
• HELLA GmbH & Co. KGaA
• KOITO MANUFACTURING CO., LTD.
• Koninklijke Philips N.V
• Magneti Marelli S.p.A
• OSRAM GmbH
• PIAA Corporation
• Robert Bosch GmbH
• SL Corporation
• Suprajit
• Valeo
• ZKW

Global Automotive Halogen Lights Market: Research Scope

Global Automotive Halogen Lights Market, by Application

• Headlamps
• Under-cabinet lighting
• Others

Global Automotive Halogen Lights Market, by Vehicle Type

• Two Wheeler
• Passenger Vehicle
• Hatchback
• Sedan
• Utility Vehicles
• Light Commercial Vehicle
• Trucks
• Buses and Coaches

Global Automotive Halogen Lights Market, by Sales Channel

• OEM
• Aftermarket

Global Automotive Halogen Lights Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Nordic Region
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.