Automotive LED Headlamps Market Size to Grow by USD 2.34 billion

The potential growth difference for the automotive LED headlamps market between 2020 and 2024 is USD 2.34 billion, according to the latest market analysis report by Technavio.

The need for energy-efficient lighting systems is notably driving the automotive LED headlamps market growth. Growing environmental concerns and government initiatives primarily drive the EV market.

The efficiency of lighting systems plays a vital role in automobile safety. Hence, OEMs and suppliers of automotive headlamps are increasingly focused on providing an efficient lighting system in vehicles. In the case of light output, LED headlamps can illuminate a greater distance as compared to halogen headlamps. These factors will drive the global automotive LED headlamps market during the forecast period.

Automotive headlamp technologies are evolving continuously. Developments in automotive headlamps are mainly concentrated on improving efficiency by reducing power consumption. The illumination range of halogen headlights is just over 90 meters, while it is more than 500 meters in laser headlights. In addition, laser headlights offer enhanced visibility, resulting in improved traffic safety. The adoption of laser headlights will increase in the luxury car segment, which will be a challenge for the global automotive LED headlamps market.