According to the latest report by IMARC Group, titled “Xenon Lights Market Report: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026,” the global xenon lights market is expected to grow at a CAGR of around 6% during 2021-2026.
Xenon lights use xenon gas-charged and sealed system to generate light through an electric charge between two electrodes. They produce a brighter, whiter light, which is similar to natural sunlight. Xenon bulbs are used in HID (high-intensity discharge) lighting and represent a better alternative to halogen bulbs, as they give a premium and stylish look.
Some of the other benefits offered by the xenon lights are high light output, less consumption of energy, long lifespan, and cost-effectiveness. Nowadays, they are extensively used in searchlights, projectors and for specialized applications across industries and research institutes to simulate natural sunlight.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends and Drivers:
The market is driven by the growing applications of xenon lights, especially in the automotive sector, where they are primarily used to enhance the visibility for the driver, improve vehicle conspicuity, and indicate the position and presence of other vehicles. They are also used to enhance the design and appearance of modern cars. To widen the consumer-base, manufacturers are now producing customized lighting kits for driving enthusiasts, which also complement the aesthetic value of the vehicle.
Additionally, the demand for xenon lights has been accelerated by the growing trend of ambient lighting, where they are extensively used in interior lighting designs. The market is also positively influenced by some other factors such as growing population, improving infrastructure, rising purchasing power, changing lifestyles and preferences, governmental initiatives, and reduced vehicle production costs.
Browse full report with detailed TOC and list of figures and tables:https://www.imarcgroup.com/xenon-lights-market
Competitive Landscape:
The competitive landscape of the market has also been analyzed with the detailed profiles of the key player operating in the market. Some of the key players include:
Osram
General Electric
Philips
Stanley Electric
Hella
Insights on Market Segmentation:
Market Breakup by Application:
1. Automotive Headlights
2. Theatre and Movie Projectors
3. Interior Lighting
The market has been segmented on the basis of applications into automotive headlights, theatre and movie projectors, and interior lighting. Among these, automotive headlights account for the largest share.
Market Breakup by Region:
1. Asia-Pacific
2. Europe
3. North America
4. Middle East and Africa
5. Latin America
Region-wise, Asia-Pacific represents the leading market, holding the majority of the market share. Other major regions include Europe, North America, Middle East and Africa, and Latin America.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
