On-highway Vehicle Lighting Market Size, Share & Trends Analysis Report By Product (LED, LASER), By Application (Headlights, Interior Lights), By Vehicle Type- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global On-highway Vehicle Lighting market gathered revenue around USD 25.60  Billion in 2020 and market is set to grow USD 38.10 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 5.9% during the prediction period 2021 to 2027.

Growth Factors:

The increasing penetration of LED lighting in the automotive industry coupled with growing sales of passenger cars and commercial vehicles is expected to drive the market growth over the forecast period. Moreover, government authorities and agencies across the world have been drafting effective regulations regarding the use of lighting systems in vehicles, which are anticipated to create significant growth opportunities for players operating across the value chain of the market.

Low visibility, particularly during the night time, has been a significant reason behind the increasing number of road accidents worldwide. A strong emphasis is being put on the vehicle headlights' performance as research continues to expose safety concerns. For instance, given the effects of unfavorable weather conditions on forward visibility, the European Union (EU) has mandated the use of Daytime Running Light (DRL). As such, 17 countries in the EU have drafted effective legislation related to installing DRLs in vehicles. In Canada, the Motor Vehicles Safety Act (MVSA) mandates the use of DRLs in all vehicles used in the country.

The adoption of LED lighting has gained traction in several industries and they have aligned with the plummeting LED costs over the past decade. LED lamps are used in automobiles owing to various reasons. Apart from consuming lesser energy and offering better durability and controllability, LED lamps can deliver instant brightness and cool daylight color, thereby improving visibility and reducing the light glare ratio compared to the adaptive high beam lights. Moreover, LED lamps can also be used as Daytime Running Lights (DRLs) and Center High-Mounted Stop Lamps (CHMSL).  

The growing adoption of the latest technologies in automotive lighting and increasing penetration of LED lighting in the automotive industry are anticipated to drive the demand for on-highway vehicle lighting. Automotive lighting has continuously been evolving as manufacturers seek innovative ways to strengthen safety, improve performance, and enhance aesthetics. Headlamps are particularly expected to witness developments in line with advancements in LED and laser technologies.

Prominent market players are coming up with laser headlights featuring advanced lighting technology. For instance, Osram provides its laser headlights to automotive manufacturers such as BMW and Audi. Models such as Audi R8 and R8 LMX, BMW i8, and BMW 7 series feature Osram’s laser headlights. Laser headlights provide luminance of up to five times higher than other light sources. They also provide a better high beam range of 300-600 meters as compared to conventional headlights.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the On-highway Vehicle Lighting market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global On-highway Vehicle Lighting market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 38.10 Billion by 2027
Growth Rate CAGR of 5.9% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Product, application, vehicle type and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned KOITO MANUFACTURING CO., LTD., Marelli Automotive Lighting, Valeo, Koninklijke Philips N.V., Zizala Lichtsysteme GmbH (LG Electronics).

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

On-highway Vehicle Lighting market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Regional Insights

Asia Pacific accounted for the largest revenue share of over 50.2% in 2020 and is expected to retain its dominance over the forecast period. It is projected to register the highest CAGR from 2021 to 2027, owing to the increased demand for passenger vehicles in emerging economies such as China and India. According to the OICA, over 91 million new passenger and commercial vehicles were registered or sold globally in 2019. Of this, over 48% of the global total were sold in Asia. This has led to a significant surge in demand for on-highway vehicle lighting in the region.

Europe is estimated to register the second-highest CAGR of over 5.1% over the forecast period. Germany produced over 15.0% of Europe’s overall motor vehicle production. The country is home to motor vehicle manufacturing leaders such as Audi, BMW, Ford, Mercedes, Porsche, and Volkswagen. Besides, in the U.K., the government has banned the aftermarket of HID lighting kits used to covert standard halogen lamps to standard HID xenon headlamps. This has opened potential opportunities for LED light sources, thereby fueling the market growth.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the On-highway Vehicle Lighting Market include:  KOITO MANUFACTURING CO., LTD., Marelli Automotive Lighting, Valeo, Koninklijke Philips N.V., Zizala Lichtsysteme GmbH (LG Electronics)

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

  • By Product
    • Halogen
    • HID
    • LED
    • Incandescent
    • LASER
  • By Application
    • Headlight
    • Exterior Lights
    • Internal Lights
  • By Vehicle Type
    • Motorcycle
    • Passenger Cars
    • Buses
    • Light Trucks (Class 1-3)
    • Medium Trucks (Class 4-6)
    • Heavy Trucks (Class 7 & 8)

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the On-highway Vehicle Lighting market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the On-highway Vehicle Lighting market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the On-highway Vehicle Lighting markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in On-highway Vehicle Lighting Market Study:

  • Growth of On-highway Vehicle Lighting in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for On-highway Vehicle Lighting and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  On-highway Vehicle Lighting Consumption Analysis
  •  On-highway Vehicle Lighting Production Analysis
  •  On-highway Vehicle Lighting and Management