Car Bulb Market is predicted to grow at faster CAGR during the forecast period due to the increase in the sale of vehicles.

Introduction of the Car Bulb Market Report

Automotive bulbs are integrated in the rear, front, sides, and in some of the cases the top of a motor vehicle to indicate the vehicle direction and vehicle presence for opposite side and running vehicles, especially at night. Car bulbs also find their use in indicative lighting systems.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global Car Bulb Market include an increase in the sale of vehicles that has boosted the growth of this market. For instance, according to International Organisation of Motor Vehicle Manufacturers, in 2021, the increase in the sale of new vehicles at global level accounted for 44.4 million in Jan-June 2021 as compared to 2020 which was 34.3 million in Jan-June.

Moreover, vehicle lighting is playing an important role while driving on road with heavy traffics. Road accident are the major concern for the government. For instance, according to World Health Organisation in 2021 report, approximately 1.3 million people die each year due to road traffic collisions. Several governments has made rules and regulation regarding mandatory DRL light to overcome from traffic accident. For instance, in 2019 according to the NHTSA of the US Department of Transportation, DRL has reduced the fatal road accidents by approximately 13.8%.

Restraint in the Car Bulb Market

However, the cost of Xenon/HID bulb is high as production cost for the Xenon/HID bulb is also high. Thus, this factor has hampered the growth for this market.

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Bulb Type – Segment Analysis

Based on the Bulb Type, LED bulb expected to grow at a higher CAGR rate in the global Car Bulb Market during the forecast period owing to its various benefits such as high aesthetic value, low power consumption among others. Additionally, LED headlights have minor impact on the driver who is on the opposite side in comparison to other lights which can reduce accidents. Moreover, rising number of newly manufactured vehicles installed with the LED lighting systems has boosted the growth of this segment.

Vehicle type – Segment Analysis

Based on the Vehicle type, passenger vehicles is projected to grow at a higher CAGR rate in the global Car Bulb Market during the forecast period owing to the increasing sales of passenger vehicle at global level. For instance, according to OICA, in 2020, the sale of passenger car vehicles was accounted for 53.5 million. Thus, this factor has boosted the growth of this market.

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Regional – Segment Analysis:

Based on the region, the Asia Pacific region is expected to grow at a higher CAGR rate in the global Car Bulb Market during the forecast period due to the growing automotive regional industry and the presence of the major players in this region, such as Koito Manufacturing Co., Ltd, Toyota Boshoku Corporation, etc. Moreover, increasing urbanization, growing economic development, the rising spending power of the middle-class populace, and supportive government initiatives have also boosted the automotive industry growth in this region. For instance, according to IBEF in Sep 2021, government of India has issued a notification regarding the PLI scheme for the automobile and auto components worth USD 3.49 billion.

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 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?

 

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Bulb Type, By Vehicle type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	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; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

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