Car Bulb Market

Car Bulb Market is predicted to grow at faster CAGR during the forecast period, owing to the emerging need for effective and convenient safety features.

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Key Drivers and Emerging Trends

Accelerating sales of passenger cars, rapidly accelerating urban population, and the growing demand for effective and convenient safety accessories are some of the major factors fueling the global car bulb market growth. For example, as per the International Organisation of Motor Vehicle Manufacturers, the sale of new vehicles increased to 44.4 million in Jan-June 2021 as compared to 34.3 million in 2020. In addition, rising norms pertaining safety and the growing emphasis of producers on introducing advancement in lightning technology are projected to expand the market size. Increasing number of road accidents and the expansion of automotive industry have augmented the adoption of LED’s, owing to their fog penetrating capabilities, will further expand the market growth. For instance, as per the report published by World Health Organization published in 2021 nearly 1.3 million people die each year due to road traffic collision. However, the high cost of Xenon/HID bulb and the strict fuel emission norms in this nation are projected to restrain the market growth. Also, fluctuation in oil prices and lower penetration of advanced lighting will further impede the Car Bulb Market size.

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Bulb Type – Segment Analysis

LED bulb is predicted to expand at a higher CAGR over the forecast period, owing to the remarkable features including low energy consumption and better aesthetic value. In addition, LED headlights help in reducing the chances of accidents as they are more effective as compared to incandescent bulbs will add to the market growth. Other factors including enlarged lifespan, energy efficiency, and improved performance are projected to expand the market growth.

Vehicle type – Segment Analysis

Passenger vehicles are estimated to witness a promising growth over the upcoming years, primarily owing to the rising per capita income, adoption of electric vehicles, and advanced technologies such as ADAS. In addition, as per the global car bulb market analysis, the increasing sales of passenger vehicle and the inclination of consumers towards comfortable transportation are forecast to strengthen the market growth. For instance, as per the OICA, the passenger car vehicles sales were 53.5 million in 2020.

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Regional – Segment Analysis:

Asia Pacific is predicted to witness a promising growth over the upcoming years, owing to the rapid urbanization, strategic government initiatives, and expansion of automotive industry. The strong presence of leading players including Toyota Boshoku Corporation Ltd., Koito Manufacturing Co., Ltd, etc. will further augment the market growth.

Top Market Players

Various notable players operating in the market, include, Koito Manufacturing Co., Ltd, Marelli Holdings Co., Ltd, Valeo, Hella GmbH & Co., Stanley Electric, ZKW, Varroc Group., SL Corporation, Hyundai Ihl Co.,Ltd, TYC, among others.

Key Developments:

• • In 2022, HELLA invested in the expansion of the Großpetersdorf site in Austria to promote electromobility.
  • In 2021, HELLA launched a Digital Flatlight for rear car lighting which allows users to offer personalized light signatures and communication.
  • In 2021, ZKW along with several company such as Silicon Austrian Labs, Evatec, EV Group and TDK Electronics advances light projection technology collaborated with research partners Silicon Austrian Labs, Evatec, EV Group and TDK Electronics, ZKW to develop on micromirror technology. This will offer smart lighting functions for vehicles, such as the projection of symbols (for example arrows) and warnings onto the road, or flexible, adaptive vehicle lighting.
  • In Dec 2021, HELLA introduced a Digital Flatlight for rear car lighting which enable users to customizable light signatures and communication.
  • In Aug 2021, ZKW in cooperation with several company such as Evatec, Silicon Austrian Labs, EV Group and TDK Electronics advances light projection technology together with research partners Silicon Austrian Labs, Evatec, EV Group and TDK Electronics, ZKW is working on micromirror technology. This will provide smart lighting functions for vehicles, such as the projection of symbols (for example arrows) and warnings onto the road, or flexible, adaptive vehicle lighting.

Segments covered in the Report:

The global Car Bulb Market has been segmented on the basis of Bulb Type, Vehicle type, Application, and regions. Based on Bulb Type, the market is segmented into LED, HID, Halogen and Others. Based on Vehicle type, the market is segmented into Passenger Vehicle and Commercial Vehicle. Based on Application, the market is segmented into High Beam Light, Fog Light, Brake Light, Low Beam Light and Others.

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Key questions answered in this research report:

• • At what pace is global Car Bulb Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Car Bulb Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Car Bulb Market?
  • Which Bulb Type generated maximum revenues in 2020 and identify the most promising Bulb Type during the forecast period?
  • What is the various Vehicle type of global Car Bulb Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Car Bulb Market by Bulb Type

• • LED
  • HID
  • Halogen
  • Others

Global Car Bulb Market by Vehicle type

• • Passenger Vehicle
  • Commercial Vehicle

Global Car Bulb Market by Application

• • High Beam Light
  • Fog Light
  • Brake Light
  • Low Beam Light
  • Others

Global Car Bulb Market by Region

• • North America Car Bulb Market (Option 1: As a part of the free 25% customization)
    • By Bulb Type
    • By Vehicle type
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Car Bulb Market (Option 2: As a part of the free 25% customization)
    • By Bulb Type
    • By Vehicle type
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Car Bulb Market (Option 3: As a part of the free 25% customization)
    • By Bulb Type
    • By Vehicle type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Car Bulb Market (Option 4: As a part of the free 25% customization)
    • By Bulb Type
    • By Vehicle type
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Market Name (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Koito Manufacturing Co., Ltd
  • Marelli Holdings Co., Ltd
  • Valeo
  • Hella GmbH & Co.
  • Stanley Electric
  • ZKW
  • Varroc Group.
  • SL Corporation
  • Hyundai Ihl Co.,Ltd
  • TYC