Market Trends of India Automotive Adaptive Lighting System Industry
This section covers the major market trends shaping the India Automotive Adaptive Lighting System Market according to our research experts:
Front headlight will lead the market
Keeping the passengers safe and providing the driver a world-class driving experience has become the main agenda of the middle-high end passenger car manufacturers. Starting from ABS and EBS to the present day auto-cruise control systems, automotive manufacturers have made their search for advanced driver assistance systems a prime target. Adaptive lighting system also called the automotive adaptive front-lighting system (AFS), is one such effort as a part of an active safety system (ASS).
Whereas, leading automotive OEMs in the country are launching vehicles with adaptive headlight feature. Mainly this feature is observed in the high-end SUV and luxury cars. For instance
- In February 2020, MG showcased its Gloster SUV at Auto Expo 2020, the SUV comes with Adaptive LED headlights, LED DRLs, panoramic sunroof, heated wing mirrors, gesture-controlled tailgate, ambient lighting, an 8.0-inch multi-information instrument cluster display, connected car tech, and a 12.3-inch touchscreen infotainment system.
- In 2019, BMW updated its X1 in to a plug-in hybrid X1, with new Adaptive LED headlights, bumper with integrated LED fog lamps, centrally mounted 6.5-inch screen, whereas, navigation systemhavethe option of 8.8-inch or 10.25-inch Touch Control Display.
- In 2019, Koito Manufacturing Co. Ltd has announced that it will acquire the remaining 29.9% share of India Japan Lighting Pvt. Ltd (IJLPL), which is company's joint venture with TVS Group.
COVID-19 will Hinder the Market Growth
Like any other economy, the Indian economy has also hugely affected by COVID-19, and due to global supply chain disruption, factories shut down, and the car dealership closed the automotive industry has faced a huge setback. Vehicle sales in 2019has already witnessed around 13% decline as compared to the previous year, and in 2020 vehicle sales are in its all-time low. In 2019 passenger vehicle sales are 3,816,891 units as compared to 4,400,151 in 2018. For recovery from the pandemic Indian government has announced-INR 20 trillion stimulus package which will provide relief to various sectors and industries, especially the MSMEs.
Whereas last year major global players have announced huge investments which will provide a boost for the Indian market in the coming years. For instance,
In December 2019, Force Motors announced to invest USD 85.85 million for the development of two new models over the next two years. Similarly, Morris Garages (MG), which has already invested a huge amount for entering into the Indian market have announced to further invest USD 429.25 million in India.
Whereas, Hyundai has plans to invest USD 1 billion in India by 2020, and another Asian giant SAIC Motor has also announced to invest USD 310 million in India.
