(MENAFN- GlobeNewsWire - Nasdaq) Portland, OR, Nov. 16, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global automotive adaptive front lighting market was pegged at $1.5 billion in 2021, and is estimated to reach $4.2 billion by 2031, growing at a CAGR of 10.7% from 2022 to 2031. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage & Details :
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.5 billion |
| Market Size in 2031 | $4.2 billion |
| CAGR | 10.7% |
| No. of Pages in Report | 232 |
| Segments Covered | Technology, Vehicle Type, Sales Channel, and Region |
| Drivers | Adoption of advanced driver assistance system |
| Increase in concern toward road safety |
| Opportunities | Rise in integration of advanced technology in vehicle |
| Restraints | High cost & configuration complexity |
| Unorganized aftermarket services in developing region |
Covid-19 scenario:
The Covid-19 pandemic negatively impacted the growth of the global automotive adaptive front lighting market, due to commute restrictions and logistical challenges that led to supply chain disruptions. The supply chain execution, dependency on labor, regulatory & policy changes, and working capital management are some of the major risk factors that surfaced during the pandemic.
The global automotive adaptive front lighting market is segmented on the basis of technology, vehicle type, sales channel, and region. Based on technology, the LED segment held the lion's share in 2021, contributing to more than two-fifths of the market. In addition, the segment is estimated to register the highest CAGR of 11.5% from 2022 to 2031.
On the basis of vehicle type, the passenger cars segment dominated the market in 2021, accounting for more than three-fourths of the market. However, the commercial vehicles segment is expected to portray the highest CAGR of 12.5% during the forecast period.
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Based on sales channel, the aftermarket segment is projected to showcase the highest CAGR of 12.0% during the forecast period. However, the OEM segment held the largest share in 2021, accounting for more than four-fifths of the market.
The global automotive adaptive front lighting market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the largest share in 2021, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is projected to manifest the highest CAGR of 12.2% during the forecast period.
The global automotive adaptive front lighting market includes an in-depth analysis of the prime market players such as Continental AG, DE Amertek Corporation, Hella KGaA Hueck & Co., Hyundai Mobis Co., Ltd., Johnson Electric Holdings Limited, J.W. Speaker Corporation, Marelli Holdings Co., Ltd., Robert Bosch GmbH, Stanley Electric Co., Ltd. and Valeo.
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The report analyzes these key players in the global automotive adaptive front lighting market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'market research reports ' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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