Automotive Headlamp Reflector Market - Value Chain and Forecast 2017 - 2025
Growing production of automobiles owing to rise in personal disposable income coupled with rapid urbanization are some of the key factors expected to drive growth of the global automotive headlamp reflector market during the forecast period. Demand for LED based lighting solutions is also anticipated to play a crucial role in driving the growth trajectories of the global automotive headlamp reflector market.
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This market has been segmented based on type of vehicle, type of light, type of material used, and region.
Based on type of vehicle, the global automotive headlamp reflector market has been segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The passenger vehicles segment is likely to be the growth engine of the global automotive headlamp reflector market. Increasing disposable income and fewer fluctuations in fuel prices have enabled a large section of the population to purchase passenger vehicles for day to day use. This is expected to push the growth of the global automotive headlamp reflector market.
Based on type of light, the global automotive headlamp reflector market has been segmented into LED, halogen, xenon, and laser among others. The LED lighting solutions segment is expected to acquire a considerable share of the global automotive headlamp reflector market during the forecast period. LED headlamp reflectors have a longer life span and are more efficient compared to other lighting solutions used in automobiles. Halogen headlamp reflectors emit a continuous spectrum of light with higher power efficacy and color temperature. Further, xenon headlamp reflectors emit light that is close to that of natural sunlight and therefore helps in stimulating automobiles. Laser lights on the other hand, consume half the power than that consumed by LED lights and are extensively used in luxury cars as headlamp reflectors.
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Based on type of material used, the global automotive headlamp reflector market has been segmented into thermoplastics, composites and others. Composite materials provide higher resistance from heat and enhanced illumination and are environmentally preferred for use owing to its recyclable property. Thermoplastic materials provide an optimal field of vision and are much lighter in weight. This ensures the vehicle is lighter which in turn ensures a more fuel efficient vehicle. However, the composite materials segment is expected to hold a significant share of the market owing to its ability to produce complex and a glossy surface finish and due to its strong strength to weight ratio.
Based on region, the global automotive headlamp reflector market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is expected to hold a considerable share of the market owing to the presence of a strong automotive sector in the developed countries of Japan and Korea. India is likely to be a potential market driving the growth of the automotive sector in Asia Pacific and in turn helping the growth of the global automotive headlamp reflector market during the forecast period.
The automotive headlamp reflector market is highly competitive with a large presence of local and regional vendors. Key players operating in the automotive headlamp reflector market are Koito Manufacturing Co. Ltd., Valeo S.A., Magneti Marelli, Hella KGaA Hueck & Co., Stanley Electric Co. Ltd., Ichikoh, and Visteon.
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