- 7 August 2019 16:17
On-Highway Vehicle Lighting Market Size, Share, Growth Predictions and Forecast 2018 - 2026
The global On-highway vehicle lighting market size is anticipated to around USD 43.4 billion by 2026, this market is anticipated to grow with 5.4% CAGR during the forecast time period.
Growing automobile production across various regions, increasing adoption of LED lamps and rising penetration of energy-efficient light sources are some of the factors propelling the market growth. However, altering climate in several countries due to global warming creates smog, which acts as a restraint on the market growth.
On-highway vehicle lighting is a phrase used for the lighting used in passenger and commercial vehicles, excluding off-road vehicles. 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 diverse types of lighting such as interior and exterior.
Based on application, Headlights segment holds the significant market growth during the forecast period. The growth is attributed due to rising production of motor vehicles and varying prices of light sources and technological advancements.
By geography, Asia Pacific has the largest market share during the forecast period due to rapidly rising automotive sector, strict regulations by local governments concerning the use of energy-efficient lighting sources are some of the factors driving the market in this region.
Market By Product Type: Halogen,High Intensity Discharge (HID),LED,Incandescent,LASER
Market By Application: Headlights,Other External Lights,Interior Lights
Market By Vehicle Type: ,Motorcycle,Passenger car,Buses,Light Trucks (Class 1-3),Medium Truck (Class 4-6),Heavy Truck (Class 7&8)
Market By Geography: North America,Europe,Asia-Pacific,Latin America,Middle East and Africa (MEA)
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