January 24, 2021

Headlamps

LONDON–(BUSINESS WIRE)–Technavio has been monitoring the automotive LED headlamps market and it is poised to grow by USD 2.35 bn during 2020-2024, progressing at a CAGR of over 14% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive LED headlamps market. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

  • What are the major trends in the market?

    The introduction of laser headlamps is a major trend driving the growth of the market.
  • At what rate is the market projected to grow?

    The market will accelerate at a CAGR of over 14% and the incremental growth of the market is anticipated to be $ 2.35 bn.
  • Who are the top players in the market?

    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., are some of the major market participants.
  • What is the key market driver?

    The need for energy-efficient lighting systems is one of the major factors driving the market.
  • How big is the APAC market?

    The APAC region will contribute to 44% of the market share.

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View market snapshot before purchasing

The market is concentrated, and the degree of concentration will accelerate during the forecast period. 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. are some of the major market participants. The need for energy-efficient lighting systems will offer immense growth opportunities. In a bid to help players strengthen

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