Future Growth: Global Halogen Lights Market Is Expected To Grow with a Healthy CAGR During 2018-2026

The Report Automotive Halogen Lights Market: Global Industry Analysis and Opportunity Assessment 2018-2026 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz

Introduction:

The unique characteristics of the halogen lights are high resistance to humidity, UV light, and halogen lamps provide better visibility and hence enhance driving comfort and safety; hence, the demand for halogen lights in automotive is likely to remain moderate during the forecast period. Rising adoption of light emitting diode (LED) lights and organic light-emitting diode (OLED) lights, owing to their advantages over halogen lights, is anticipated to hamper the halogen lights market during the forecast period.

The automotive halogen lights market can be segmented based on application, vehicle type, sales channel, and region. In terms of application, the halogen lights market can be classified into headlamps, under cabinet lighting, and others. The headlamps segment is likely to hold a major share of the automotive halogen lights market during the forecast period. 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. Consequently, the automotive halogen lights market is likely to expand during the forecast period.

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Based on vehicle type, the automotive halogen lights market can be divided into passenger vehicle and commercial vehicle. The passenger vehicle segment is anticipated to expand during the forecast period. Applications such as fog lights, side position lights, front lights, position and parking lights play an important role in passenger vehicles and hence, the passenger vehicle segment is anticipated to expand, which in turn is likely to drive the automotive halogen lights market during the forecast period. Availability of passenger cars at a low price, owing to competition among OEM manufacturers, increased per capita income, rapid urbanization, and change in lifestyle across the globe, is anticipated to drive the demand for passenger vehicles during the forecast period.

In terms of sales channel, the automotive halogen lights market can be categorized into aftermarket and OEM. Replacement of halogen lights is cost-effective and halogen light technology is highly reliable; consequently, they are popular among consumers. Therefore, the aftermarket segment dominated the automotive halogen lights market. However, adoption of LED lights by OEMs, owing to their advantages such as high efficiency and intense and brighter light, is likely to propel the OEM segment during the forecast period.

In terms of region, the automotive halogen lights market can be classified into North America, Europe, Asia Pacific, and Middle East & Africa. Increase in manufacturing of vehicles coupled with rapid urbanization and presence of automotive light manufacturers, is fueling the automotive halogen lights market during the forecast period.

Key players operating in the automotive halogen lights market include Koninklijke Philips N.V., Autolite (India) Limited, OSRAM GmbH, ZKW, and HELLA GmbH & Co. KGaA.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

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The report provides the following information:

Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies

The main aim of the report is to:

Enable key stakeholder’s in the market bet right on it
Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution

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