Press release
Automotive Headlamp Reflector Market to See 4.2% CAGR through 2021
Automotive Headlamp Reflector Market to See 4.2% CAGR through 2021
Passenger car segment is predicted to remain the growth engine of the worldwide automotive headlamp reflector market from 2016 up till 2021, majorly due to high vehicle production and rising adoption of advanced materials.
The demand for headlamp reflector from the LED lighting segment is anticipated to witness the most rapidly growth in the next 5 years. Robust growth in this segment could be attributed to a steady shift from halogen lighting to LED lighting, owing to certain benefits offered by LED, for instance, high energy efficiency, lightweight, long life, faster illumination and focused brightness. LED lighting will likely gain popularity in middle, premium and electric vehicles.
Bulk molding compounds (BMC) based composites are recognized as the top in-demand material used in the automotive headlamp reflector production, as it offers numerous benefits over alternative materials like high gloss surface finish, ability to manufacture complex and sharp curves, lightweight, excellent strength to weight ratio and excellent temperature resistance.
APAC is forecast to continue holding the top position in the global automotive headlamp reflector market through 2021. China and India will likely be the key growth contributors.
The leading automotive headlamp reflector manufacturers in the global arena include Koito Manufacturing, Magneti Marelli, Valeo S.A., Stanley Electric and Hella KGaA Hueck & Co.
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