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In this report, covers the present scenario (with the base year being 2017) and the growth prospects of global Heavy Commercial Vehicles Lighting market for 2018-2023.
The lighting system of heavy commercial vehicles consists of lighting and signaling devices mounted or integrated to the front, rear, sides, and in some cases the top of a motor vehicle. This lights the roadway for the driver and increases the visibility of the vehicle, allowing other drivers and pedestrians to see a vehicle's presence, position, size, direction of travel, and the driver's intentions regarding direction and speed of travel. Emergency vehicles usually carry distinctive lighting equipment to warn drivers and indicate priority of movement in traffic.
On the basis of technology, the Commercial Vehicles Lighting market is segregated into halogen, xenon, and LED. Halogen dominated the industry in 2017 and is expected to grow at a CAGR of over 4.2% from 2017 to 2023. Low purchasing & replacement cost and easy availability are few factors for the adoption of halogen technology. They are available in different dimensions and are cost-effective and easy to replace. However, excessive heat loss while light radiation has increased awareness for energy efficiency leading to the reduced usage of halogen. LED lighting market accounted for over 10% of the overall share in 2017 and is expected to witness substantial growth over the forecast period. This is largely attributed to red LED applications such as indicators and brake lights.
Over the next five years, projects that Heavy Commercial Vehicles Lighting will register a 4.3% CAGR in terms of revenue, reach US$ 800 million by 2023, from US$ 620 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Heavy Commercial Vehicles Lighting market by product type, application, key manufacturers and key regions.
To calculate the market size, considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Xenon Lights
Halogen Lights
LED
Other
Segmentation by application:
Front Light
Rear Combination Light
Fog Lights
Interior Lighting
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Koito
Valeo
Hella
Magneti Marelli
ZKW Group
Lumax Industries
Varroc
TYC
Xingyu
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Heavy Commercial Vehicles Lighting consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Heavy Commercial Vehicles Lighting market by identifying its various subsegments.
Focuses on the key global Heavy Commercial Vehicles Lighting manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Heavy Commercial Vehicles Lighting with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Heavy Commercial Vehicles Lighting submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
The lighting system of heavy commercial vehicles consists of lighting and signaling devices mounted or integrated to the front, rear, sides, and in some cases the top of a motor vehicle. This lights the roadway for the driver and increases the visibility of the vehicle, allowing other drivers and pedestrians to see a vehicle's presence, position, size, direction of travel, and the driver's intentions regarding direction and speed of travel. Emergency vehicles usually carry distinctive lighting equipment to warn drivers and indicate priority of movement in traffic.
On the basis of technology, the Commercial Vehicles Lighting market is segregated into halogen, xenon, and LED. Halogen dominated the industry in 2017 and is expected to grow at a CAGR of over 4.2% from 2017 to 2023. Low purchasing & replacement cost and easy availability are few factors for the adoption of halogen technology. They are available in different dimensions and are cost-effective and easy to replace. However, excessive heat loss while light radiation has increased awareness for energy efficiency leading to the reduced usage of halogen. LED lighting market accounted for over 10% of the overall share in 2017 and is expected to witness substantial growth over the forecast period. This is largely attributed to red LED applications such as indicators and brake lights.
Over the next five years, projects that Heavy Commercial Vehicles Lighting will register a 4.3% CAGR in terms of revenue, reach US$ 800 million by 2023, from US$ 620 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Heavy Commercial Vehicles Lighting market by product type, application, key manufacturers and key regions.
To calculate the market size, considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Xenon Lights
Halogen Lights
LED
Other
Segmentation by application:
Front Light
Rear Combination Light
Fog Lights
Interior Lighting
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Koito
Valeo
Hella
Magneti Marelli
ZKW Group
Lumax Industries
Varroc
TYC
Xingyu
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Heavy Commercial Vehicles Lighting consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Heavy Commercial Vehicles Lighting market by identifying its various subsegments.
Focuses on the key global Heavy Commercial Vehicles Lighting manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Heavy Commercial Vehicles Lighting with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Heavy Commercial Vehicles Lighting submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
