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Global Automotive Halogen Bulbs Market Overview 2033 : Forecasted Market Size And Growth Rate
Automotive Halogen Bulbs Global Market Report 2024
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According to The Business Research Company's, The automotive halogen bulbs market size has grown strongly in recent years. It will grow from $10.91 billion in 2023 to $11.69 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to automotive lighting standardization, widespread vehicle ownership, popularity of halogen headlights, safety and road visibility.
The automotive halogen bulbs market size is expected to see steady growth in the next few years. It will grow to $14.14 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to led and hid conversion, vehicle electrification, ustainability and energy efficiency, regulatory changes, advanced driver assistance systems (adas). Major trends in the forecast period include adaptive headlights, connected lighting, improved halogen bulbs, custom lighting, lighting design and aesthetics.
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Market Drivers and Trends:
Lower cost benefits of halogen in headlights over other headlight types are expected to increase the demand for automotive halogen bulbs market. These bulbs are used in projector bulbs in headlights and incorporate low replacement costs and lesser energy consumption as compared to incandescent bulbs. Furthermore, properties such as a decent lifespan of around 1000 hours under normal conditions and government regulations for more efficient bulbs will continue to drive growth of the automotive halogen bulbs market.
Manufacturers are increasingly offering dual-beam halogen bulbs to cater to the increasing demand from the automobile industry. These products consist of dual metal filaments that produce a high-energy dual-beam pattern comprising of a high beam and a low beam. The beams generated are of high light-emitting power. H4, H7, and H13 are some of the types of dual filament halogen bulbs. For instance, Phoenix Lamps, an India-based lighting manufacturer, manufactures and supplies the dual filament halogen lamps namely H4 & HS1 lamps used in four-wheelers and commercial vehicles to automotive companies such as Piaggio, Mahindra, BMW, and Volkswagen.
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Major Key Players of the Market:
GE Lighting, Philips Lighting, Osram Group, HELLA, Magneti Marelli, Toshiba, Eaton(Cooper), Panasonic, KOITO MANUFACTURING, Valeo, Varroc Group, Koninklijke Philips N.V, Autolite (India) Limited, ZKW, PIAA, Hyundai Mobis, CEC Industries, Sylvania, M-Tech, Cardinal Carryor, Felling Trailers Inc., North American Signal Co., Orr & Orr Inc., MSC Industrial Supply Co., Nationwide Industrial Supply, Thin-Lite, WhiteLight, Marinco, NAOEVO, PowerBulbs
Automotive Halogen Bulbs Market 2024 Key Insights:
• The automotive halogen bulbs market size is expected to see steady growth in the next few years. It will grow to $14.14 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.
• Lower Costs And Energy Efficiency Are Driving The Growth Of The Automotive Halogen Bulbs Market
• Innovative Solutions In Automotive Lighting
• Asia-Pacific was the largest region in the automotive halogen bulbs market in 2023
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