Automotive Headlights to Be Lit Up by LED Lighting
With a fitment rate of over 80% in 2015, accounting for some 73 million front headlight sets, the analysts assert that halogen is still the leading automotive front light technology solution for the global industry.
However, just-auto's analysts believe that, although fitment will decline to about 75% by 2030, volume will increase by nearly 35% to some 99 million headlight sets due to continued total industry volume (TIV) growth.
This performance of halogen, while losing market share, will translate to a CAGR for the 2015-2030 period of a narrow 2%, slightly below the TIV CAGR of 2.6% for the same period.
According to just-auto's research, the growth star for headlamp technology will be LED. The sector will grow at a CAGR of 16.2%, leading the technology to pass BiXenon in the market by 2025.
The key drivers that just-auto's analysts cite for the increasing use of LEDs in front lighting, largely at the expense of Xenon, is their falling cost relative to Xenon and improving performance and reliability. Globally, it is anticipated that LED penetration will increase from some 2.5% in 2015 to nearly 17% in 2030.