Global On-Highway Vehicle Lighting Market to reach USD 42.89 billion by 2025.
Global On-Highway Vehicle Lighting Market valued approximately USD 26.11 billion in 2016 is forecasted to grow with a healthy growth rate of more than 5.67% over the forecast period 2018-2025. The major factors anticipated to augment the market are progressions in automotive lighting technology, rising automobile production across various developed and developing regions, specifically in emerging economies, government ordinances for improved visibility, increasing espousal of LED lamps and increasing influence of technological innovations.
The regional analysis of Global On-Highway Vehicle Lighting Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Type:
> Buses
> Motorcycles
> Passenger Cars
> Light Trucks (Class 1-3)
> Medium Trucks (Class 4-6)
> Heavy Trucks (Class 7&8)
By Application:
> Headlights
> Interior Lights
By Product Type:
> Laser
> Halogen
> Incandescent
> High Intensity Discharge (HID)
> LED
By Regions:
> North America
o U.S.
o Canada
> Europe
o UK
o Germany
> Asia Pacific
o China
o India
o Japan
> Latin America
o Brazil
o Mexico
> Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2015, 2016
Base year - 2017
Forecast period - 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Valeo S.A., Koito Manufacturing, Ltd., Maxxima, Koninklijke Philips N.V., Magneti Marelli S.p.A., TYC Genera, Zizala Lichtsysteme GmbH (LG Electronics), ZKW Group, Spyder Auto, Optronics International LLC., and so on. New product launches and continuous technological innovations are also few of the key strategies adopted by the major players. Acquisitions & effective mergers are some of the strategies adopted by the key manufacturers.
Target Audience of the On-Highway Vehicle Lighting Market Study:
> Key Consulting Companies & Advisors
> Large, medium-sized, and small enterprises
> Venture capitalists
> Value-Added Resellers (VARs)
> Third-party knowledge providers
> Investment bankers
> Investors