On-Highway Vehicle Lighting Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029 The Global On-Highway Vehicle Lighting Market is estimated to be valued at USD 41 billion by 2029 end and is projected to register a CAGR of over 4.8% during the forecast period 2019-2029. On-highway vehicle lighting is the one that is used in commercial and passenger vehicles which excludes off-road vehicles. Vehicle lighting, external lighting in particular, are of paramount importance for passenger and vehicle safety. Numerous innovative and unique ideas are being implemented in vehicular lighting technology which is one of the integral factors that propel market proliferation. Market Drivers and Restraints: There has been a rise in the number of vehicles driving during night time due to dense traffics and long working hours which has assisted in the proliferation of the market. With respect to interior vehicular lighting, there has been innovations in this sector owing to a growing demand for high-quality aesthetics which are enhanced by these lightings thus propelling the market proliferation. However, changing climatic conditions due to global warming creates smog which reduces visibility while driving. Situations like these have resulted in major accidents and such incidences can impede market growth. Request a Sample Report @ https://www.futurewiseresearch.com/requestsample.aspx?id=2284&page=requestsample Insights on Global On-Highway Vehicle Lighting Market: 1. By Region North America Europe Asia Pacific Rest of the World Asia Pacific region holds the largest market share owing to a growing vehicle production in emerging economies like India, China and South Korea. European region is anticipated to showcase a significant escalation in the market as a result of strict government rules and enforcements with regards to the use of energy-efficient lighting in automobiles. The North American region is likely to endeavour a significant market augmentation owing to a soaring focus on road safety that provokes the automotive OEMs to use innovative lighting technologies. 2. By Light Source LED OLED Halogen Xenon LASER Others Light emitting diodes (LED) are cheap and are easily available. They also require low power input which saves ample electricity and these are some integral factors that increase their demand in the market. Furthermore, LEDs are integrated with different latest technologies and create something as innovative as micro-adaptive front light system (micro-AFS). LASER light is expensive and is primarily used for exterior lighting. As they are expensive, LASERS are preferred by consumers who have a high spending capability and that is the reason this segment is likely to witness a slow market augmentation. 3. By Vehicle Type Passenger Vehicles Commercial Vehicles The passenger vehicle segment subjugated the majority market share in 2017 and is expected to grow substantially during the forecast period. With an ever-growing population in emerging economies like India and China, the demand for passenger vehicles will increase resulting in the proliferation of the market. 4. By Application Headlights Interior Lights Other External Lights The headlight segment majorly influences the market owing to its growing demand in low and mid-range vehicles, who account for the largest market share of the total vehicle production across the world. Furthermore, the interior lights segment has the potential to showcase significant market proliferation as it required to enhance the internal aesthetics of the vehicle. Purchase a Copy & Ask For Discount: https://www.futurewiseresearch.com/requestsample.aspx?id=2284&page=askfordiscount Competitive Landscape: Tier 1 players- established companies in the market with a major market share Tier 2 players Emerging players which are growing rapidly New Entrants Osram micro-Adaptive Forward Lighting System (AFS) for on-highway vehicle lighting guarantees their market dominance in upcoming years Osram’s AFS technology is to be used on vehicle headlamps. For each headlamp, three LED chips will be used and each chip will consist of 1024 pixels. The most interesting part of this lighting system is it does not require wires to control each and every pixel. Furthermore, it is adaptive in nature as it is controlled by the central computer of the vehicle which sends commands to the control unit which then commands the silicon chip of the headlamp. This technology has made night driving much easier as compared to halogen lighting system. Osram has partnered with renowned companies like Daimler, Hella and Infineon in order to integrate the AFS technology with major automobile players like MercedesBenz. Key Market Players: Osram Koito Manufacturing Co. Ltd. Stanley Electric Hella KGaA Heuck & Co. Ltd. Magneti Marelli S.p.A FutureWise Key Takeaways: Innovations in the LED technology will result in a significant market escalation considering the amount of electricity LEDs save and the efficiency that they provide The concept of daytime running lamp in automobiles makes it easier for road users to see the vehicle and this new lighting technique is especially useful in Scandinavian countries where there is no sunlight for almost a year Objectives of the Study: To provide with an exhaustive analysis on the on-highway vehicle lighting market by region, by light source, by vehicle type, by application To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) To evaluate and forecast micro-markets and the overall market To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and rest of the world To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions Inquire further details about this report at: [email protected] About FutureWise Research: We specialise in high-growth niche markets, assuring flexibility, agility and customised solutions for our clients. Through in-depth market insights and consultancy, we present our clients with the tools they need to be at the forefront of their industry – a position secured for far more than the near future. Contact Us: Company Name: FutureWise Research Contact Person: Vinay Thaploo Email: [email protected] Phone: +44 141 628 9353 / +1 970 279 4295 City: Leeds Country: United Kingdom Website: www.futurewiseresearch.com
The Global On-Highway Vehicle Lighting Market is estimated to be valued at USD 41 billion by 2029 end and is projected to register a CAGR of over 4.8% during the forecast period 2019-2029. On-highway vehicle lighting is the one that is used in commercial and passenger vehicles which excludes off-road vehicles. Vehicle lighting, external lighting in particular, are of paramount importance for passenger and vehicle safety. Numerous innovative and unique ideas are being implemented in vehicular lighting technology which is one of the integral factors that propel market proliferation.
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