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(I-AutoNewsWire.com, February 07, 2019 ) Stratview Research announces the launch of a new research report on Automotive Headlamp Reflector Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Light Type (Halogen, Xenon, LED, and Laser), by Material Type (Composites, Thermoplastics, and Others), by Manufacturing Process Type (Compression Molding, Injection Molding, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
The Headlamp Reflector Market in the Automotive Industry: Highlights As per Stratview Research, the global automotive headlamp reflector market is likely to experience a healthy growth during the forecast period of 2018 to 2023 and is expected to reach $775 million in 2023, offering an opportunity to the automotive industry players to align themselves with the market growth.
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There are several factors bolstering the growth of automotive headlamp reflector market. The author of the report stated that organic growth in automobile production, driven by increasing disposable income and growing urbanization is the major growth driver of the global automotive headlamp reflector market. The increasing demand of LED based lighting system and materials advancement are other additional growth drivers of the market.
Halogen is projected to maintain its dominance in the headlamp reflectors market over the next five years, driven by Asia-Pacific and rest of the world region. LED is likely to be the fastest-growing light type segment over the next five years. The growth is mainly attributed to the shift from halogen lighting to LED lighting due to several benefits offered by LED over halogen, such as high energy efficiency, long life, lightweight, and focused brightness and faster illumination. LED lighting is likely to gain high acceptance in middle to premium segment vehicles and electric vehicles.
Composite is projected to remain the most dominant material type in the automotive headlamp reflector market over the next five years. Bulk Molding Compound (BMC) is the most widely used composite material to make headlamp reflectors for all types of vehicles. Thermoplastics is expected to remain the second largest segment of the market over the next five years and is likely to witness the highest CAGR during the forecast period.
About Stratview Research Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
Stratview Research
Ritesh Gandecha
+1-313-307-4176
sales@stratviewresearch.com
Source: EmailWire.Com
Source: EmailWire.com
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