The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

 

As per The Business Research Company’s Automotive Halogen Bulbs Global Market Report 2024, the automotive halogen bulbs market is expected to show significant growth in the forecast period.

 

 

The automotive halogen bulbs market has witnessed robust growth in recent years, with a size reaching $10.91 billion in 2023. This growth is projected to continue, reaching $11.69 billion in 2024 at a Compound Annual Growth Rate (CAGR) of 7.1%. The surge in the historic period can be attributed to automotive lighting standardization, widespread vehicle ownership, the popularity of halogen headlights, and the focus on safety and road visibility.

 

 

Steady Growth on the Horizon

Looking ahead, the automotive halogen bulbs market is expected to witness steady growth, reaching $14.14 billion in 2028 at a CAGR of 4.9%. The forecasted growth is driven by factors such as LED and HID conversion, vehicle electrification, sustainability, energy efficiency, regulatory changes, and the integration of advanced driver assistance systems (ADAS).

 

 

Trends Shaping the Forecast Period

• Adaptive Headlights: Headlight technology is evolving towards adaptability, adjusting to driving conditions for enhanced safety.
• Connected Lighting: Integration of lighting systems with vehicle connectivity, offering smart and responsive features.
• Improved Halogen Bulbs: Ongoing innovation to enhance the performance and efficiency of halogen bulbs.
• Custom Lighting: A growing trend towards customizable lighting options, allowing personalization for vehicle owners.
• Lighting Design and Aesthetics: Increasing emphasis on the visual appeal and design of automotive lighting systems.

 

 

Road Accidents Propel Market Growth

The surge in the number of road accidents is anticipated to drive the growth of the automotive halogen bulbs market. Road accidents necessitate the replacement of damaged components, including headlights, commonly using automotive halogen bulbs. According to a report by the National Highway Traffic Safety Administration, in the first nine months of 2022, 31,785 individuals lost their lives in car accidents. This alarming statistic emphasizes the critical role automotive halogen bulbs play in vehicle safety.

 

 

Key Industry Players

Major companies shaping the automotive halogen bulbs market include GE Lighting, Philips Lighting, Osram Group, HELLA, Magneti Marelli, Toshiba, Eaton(Cooper), Panasonic, KOITO MANUFACTURING, and Valeo, among others. These industry leaders contribute to the market’s growth through innovation and strategic developments.

 

 

View More On The Automotive Halogen Bulbs Market Report 2024 – https://www.thebusinessresearchcompany.com/report/automotive-halogen-bulbs-global-market-report

 

 

 

Innovative Product Expansion

Companies operating in the automotive halogen bulbs market are actively developing innovative products to cater to a broader customer base and increase revenue. An example is Robert Bosch GmbH, which introduced the Plus 200 Gigalight halogen bulb, capable of emitting up to 200 percent more light. This product enhances road visibility, creating a safer driving experience and setting new standards for halogen bulbs.

 

 

Strategic Acquisition: Suprajit Engineering and Kongsberg Automotive ASA

In April 2022, Suprajit Engineering, an India-based manufacturer, acquired Kongsberg Automotive ASA for $42 million. This strategic move allowed Suprajit Engineering to access actuation technology, emphasizing the importance of advancing technologies in the automotive industry.

 

 

Market Segmentation

The automotive halogen bulbs market is segmented based on:

1. By Product:
   • Halogen Short-Arc Lights
   • Halogen Long-Arc Lights
   • Halogen Flash Lights
2. By Vehicle Type:
   • Passenger Vehicle
   • Commercial Vehicle
3. By Application:
   • OEMs
   • Aftermarket

 

 

Dominance of Asia-Pacific

In 2023, Asia-Pacific emerged as the largest region in the automotive halogen bulbs market. This regional dominance underscores the significant market presence and growth opportunities in the Asia-Pacific region.

 

 

Request A Sample Of The Global Automotive Halogen Bulbs Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=2629&type=smp

 

 

The Automotive Halogen Bulbs Global Market Report 2024  provides an in-depth analysis on the automotive halogen bulbs market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the automotive halogen bulbs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

 

View More Related Reports –

Electric Lighting Equipment Global Market Report 2024

Automotive Lighting Global Market Report 2024

Automotive Light Emitting Diode (LED) Bulbs Global Market Report 2024

 

 

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