The global headlight tester market was valued at US$ 121.2 million in 2017, and is expected to increase to US$ 144.4 million by 2026, registering a CAGR of 1.9% over the forecast period (2018-2026), by Product Type (Manual Headlight Tester and Automatic Headlight Tester), by Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), and by Geography (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa).
Increasing demand for vehicles worldwide is one of the major factors driving growth of the headlight tester market. For instance, according to the International Organization of Motor Vehicle Manufacturers statistics (OICA), the total number of vehicles sold in 2016 was 94 million units, which increased to 96 million units in 2017, worldwide. Hence, increasing demand for vehicles is influencing original equipment manufacturers (OEMs) to manufacture more vehicles.
According to the OICA, the total number of vehicles produced in 2016 was 95 million units, which increased to 97 million units worldwide. Hence, these factors that are leading to rising demand for testing equipment to test the performance of vehicles is expected to drive growth of the headlight tester market over the forecast period.
Stringent government rules and regulations regarding increasing safety of the vehicles is one of the major factors driving growth of the market Increasing number of road accidents and rising concern of consumer safety leading to rising demand for headlight tester in the automotive industries is fueling growth of the market. For instance, according to the World Health Organisation, the total number of fatalities due to road accidents was 1.25 million per year, across the globe. Thus, governments introduced standard norms for each part of a vehicle, in order to minimize road accidents. For instance, Australian government introduced the Rule 13 for driving lights of the vehicles. According to the rule, the lamps must be fitted in front of the vehicle, symmetrically at the center of the vehicles; not more than four driving lamps must be fitted to a vehicle; high intensity discharge (HID) lights should produce over 2,000 lumens (a measure of light), then only it must be fitted on the vehicles. Therefore, testing of headlight of vehicles to check if it meets the government standards will further drive growth of the market.
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Key Trends and Analysis of the Global Headlight Tester Market:
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