According to Stratistics MRC, the Global On-highway Vehicle Lighting Market is accounted for $25.98 billion in 2017 and is expected to reach $45.97 billion by 2026 growing at a CAGR of 6.5% during the forecast period. Growing automobile production across various regions, increasing adoption of LED lamps and rising penetration of energy-efficient light sources are some of the factors propelling the market growth. However, altering climate in several countries due to global warming creates smog, which acts as restraining the market growth.
On-highway vehicle lighting is a phrase used for the lighting used in passenger and commercial vehicles, excluding off-road vehicles. All vehicles manufactured to be run on tar roads are termed as on-highway vehicles, and the lighting utilized in such vehicles is termed as on-highway lighting. All vehicles are equipped with diverse types of lighting such as interior and exterior.
Based on application, Headlights segment holds the significant market growth during the forecast period. The growth is attributed due to rising production of motor vehicles and varying prices of light sources and technological advancements.
By geography, Asia Pacific has the largest market share during the forecast period due to rapidly rising automotive sector, strict regulations by local governments concerning the use of energy-efficient lighting sources are some of the factors driving the market in this region.
Some of the key players profiled in the On-highway Vehicle Lighting Market include Continental AG, Robert Bosch GmbH, Valeo S.A., Spyder Auto, Magneti Marelli S.p.A., Koito Manufacturing CO., LTD., Denso Corporation, Ichikoh Industries Ltd, De Amertek Corp, LG Display Co., Ltd., Neolite ZKW, Hyundai Mobis, Varroc Group, Johnson Electric and Lumberg Holding.
Vehicle Types Covered:
- Heavy Trucks (Class 7 & 8)
- Light Trucks (Class 1-3)
- Medium Trucks (Class 4-6)
- Passenger Car
- Electric vehicle
- High Intensity Discharge (HID)
- Light-Emitting Diode (LED)
- Organic Light Emitting Diode (OLED)
- Internal Lights
- Other External Lights
Sales Channel Covered:
- Original Equipment Manufacturer (OEM)
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- ·Comprehensive profiling of additional market players (up to 3)
- ·SWOT Analysis of key players (up to 3)
- Regional Segmentation
- ·Market estimations, Forecasts and CAGR of any prominent country as per the clients interest (Note: Depends of feasibility check)
- Competitive Benchmarking
- ·Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances