On Highway vehicle lighting Market

On Highway vehicle lighting Market Share was valued at USD 26102 million in 2020 and is expected to register a CAGR of 5.1% during the forecast period.

Introduction of the On-Highway Vehicle Lighting Market Report

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 different types of lighting that includes interior and exterior lights. Interior lighting is primarily used to improve the aesthetic appearance of the interior of the vehicle.

To have an edge over the competition by knowing the market dynamics and current trends of “On-Highway Vehicle Lighting Market”, request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

Low visibility, especially during the night-time, has been a major reason behind schedule the growing number of road accidents worldwide. A strong emphasis is being put on the vehicle headlights’ performing as research persists to expose safety concerns. For instance, as a result on the effects of adverse weather conditions on forward visibility, the European Union (EU) has mandated the use of Daytime Running Light (DRL). As such, 17 countries in the EU have drafted effective legislation related to installing DRLs in vehicles. In Canada, the Motor Vehicles Safety Act (MVSA) mandates the use of DRLs in all vehicles used in the country. The COVID-19 pandemic has negatively impacted the demand for on-highway vehicle lighting in 2020. The dwindling sales of passenger and commercial vehicles have had a subsequent impact on the market growth. The automotive lighting industry also had to face production delays and issues in raw material supplies owing to looming delays in international export and import shipments.

Restraint in the On-Highway Vehicle Lighting Market

However, increasing number of accidents on highway is a factor which is likely to hamper the overall growth of the market across the globe.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Product – Segment Analysis

Based on the product, LED is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the rising demand for LEDs for passenger cars, particularly in nations such as Germany, China, UK, and India. LED lamps can provide instantaneous daylight color and brightness. Moreover, LED lamps can also be used as Daytime Running Lights (DRLs) and Center High-mounted Stop Lamps (CHMSL)., which has helped in the expansion of the LED in the market.

Application – Segment Analysis

Based on the application, headlight is witnessed top grow at a higher CAGR in the market over the forecast period. Headlights form an important part of an automotive lighting unit. They consist of front fog lamps, headlamps, side lamps, and DRLs. The demand for headlights is driven by the increasing production of motor vehicles and the changing prices of light sources used in these vehicles, such as halogen, HID, LED, and LASER.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Based on the regional coverage, Asia-Pacific is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the strategic initiatives by the government bodies which has pushed the overall growth of the market. For instance, the Indian government has ordered the utilization of Daytime Running Lamps (DRLs) and Automatic Headlamp on (AHO) for bikes, which rapidly pushed the Asia Pacific on-highway vehicle lighting market. In addition, in 2019 the Chinese government has doubled the value of large-scale infrastructure projects it has approved compared with last year. The amount is more than double the size of last year’s (USD 52.8 billion) in approvals recorded over the same period, which included 11 projects such as railways, roads and airport, leading to the expansion of the market.

Top Market Players

Various notable players operating in the market, include, KOITO MANUFACTURING CO., LTD., Koninklijke Philips N.V., Marelli Automotive Lighting, Valeo, Zizala Lichtsysteme GmbH (LG Electronics), TYC Genera, Spyder Auto, Maxxima, Optronics International LLC, APS Lighting, among others. 

Key Developments:

• • In 2019, HELLA GmbH & Co. KGaA officially announced the launch of new lighting solution called solid state lighting with high functionality and performance.

Segments covered in the Report:

The global on-highway vehicle lighting market has been segmented on the basis of product, application, and regions. Based on product, the market is segmented into halogen, HID, LED, Incandescent, and LASER. Based on application, the market is segmented into headlight, exterior lights, and interior lights. 

For detailed scope of the “On-Highway Vehicle Lighting Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global On-Highway Vehicle Lighting market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in On-Highway Vehicle Lighting market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global On-Highway Vehicle Lighting market?
  • Which Product generated maximum revenues in 2019 and identify the most promising Product during the forecast period?
  • What are the various Application areas of global On-Highway Vehicle Lighting market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global On-Highway Vehicle Lighting Market by Product

• • Halogen
  • HID
  • LED
  • Incandescent
  • LASER

Global On-Highway Vehicle Lighting Market by Application

• • Headlight
  • Exterior Lights
  • Interior Lights

Global On-Highway Vehicle Lighting Market by Region

• • North America On-Highway Vehicle Lighting Market (Option 1: As a part of the free 25% customization)
    • North America On-Highway Vehicle Lighting Market by Product
    • North America On-Highway Vehicle Lighting Market by Application
    • US On-Highway Vehicle Lighting Market All-Up
    • Canada On-Highway Vehicle Lighting Market All-Up
  • Europe On-Highway Vehicle Lighting Market (Option 2: As a part of the free 25% customization)
    • Europe On-Highway Vehicle Lighting Market by Product
    • Europe On-Highway Vehicle Lighting Market by Application
    • UK On-Highway Vehicle Lighting Market All-Up
    • Germany On-Highway Vehicle Lighting Market All-Up
    • France On-Highway Vehicle Lighting Market All-Up
    • Spain On-Highway Vehicle Lighting Market All-Up
    • Rest of Europe On-Highway Vehicle Lighting Market All-Up
  • Asia-Pacific On-Highway Vehicle Lighting Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific On-Highway Vehicle Lighting Market by Product
    • Asia-Pacific On-Highway Vehicle Lighting Market by Application
    • China On-Highway Vehicle Lighting Market All-Up
    • India On-Highway Vehicle Lighting Market All-Up
    • Japan On-Highway Vehicle Lighting Market All-Up
    • Rest of APAC On-Highway Vehicle Lighting Market All-Up
  • RoW On-Highway Vehicle Lighting Market (Option 4: As a part of the free 25% customization)
    • RoW On-Highway Vehicle Lighting Market by Product
    • RoW On-Highway Vehicle Lighting Market by Application
    • Brazil On-Highway Vehicle Lighting Market All-Up
    • South Africa On-Highway Vehicle Lighting Market All-Up
    • Saudi Arabia On-Highway Vehicle Lighting Market All-Up
    • UAE On-Highway Vehicle Lighting Market All-Up
    • Rest of world (remaining countries of the LAMEA region) On-Highway Vehicle Lighting Market All-Up

Major Players Operating in the On-Highway Vehicle Lighting (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • KOITO MANUFACTURING CO., LTD.
  • Koninklijke Philips N.V.
  • Marelli Automotive Lighting
  • Valeo
  • Zizala Lichtsysteme GmbH (LG Electronics)
  • TYC Genera
  • Spyder Auto
  • Maxxima
  • Optronics International LLC
  • APS Lighting