Global On-Highway Vehicle Lighting Market is valued USD 26.11 billion in 2016 is anticipated to grow USD 42.89 billion with the compounded annual growth of 5.67% over the forecast period 2018-2025.
New York 14 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global On-Highway Vehicle Lighting market industry is poised to raise USD 42.89 billion by 2025. The major factors expected 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.
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Global On-Highway Vehicle Lighting Market Size Study, By Vehicle Type (Buses, Motorcycles, Light Trucks, Medium Trucks, Heavy Trucks, and Passenger Cars), By Application (Interior Lights and Headlights), By Product Type (Laser, Halogen, Incandescent, High Intensity Discharge (HID), and LED), and By Regional Forecasts, 2018-2025
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. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The North American and European region accounted for the significant market share, more than XX % of the total market in 2016.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation, the region is likely to grow by XX% CAGR over the forecast period 2018-2025
Bizwit Research & Consulting LLP has considered following segments for the study:
By Vehicle Type:
- Passenger Cars
- Light Trucks (Class 1-3)
- Medium Trucks (Class 4-6)
- Heavy Trucks (Class 7&8)
- Interior Lights
By Product Type:
- High Intensity Discharge (HID)
- North America
- Asia Pacific
- Latin America
- Rest of the World