Off-Highway Vehicle Lighting Market Research Report

 

Global Off-Highway Vehicle Lighting Market

The GMI Research forecasts that the Off-Highway Vehicle Lighting Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the growing investments and modifications in policies to attract private players for construction and mining activities.

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Introduction of the Off-Highway Vehicle Lighting Market

Off-highway vehicle lighting, also termed as off-road vehicles means the lighting to explore off-road at night or ameliorate bad weather visibility. It also brightens an outdoor party or campsite.

Key Players of the Global Off-Highway Vehicle Lighting Market:

·        Truck-Lite

·        Hamsar Diversco Inc.

·        Grote Industries

·        APS Lighting and Safety

·        ECCO Safety Group

·        W. Speaker Corporation

·        WESEM

·        ABL Lights Group

·        HELLA GmbH & Co. KGaA

·        Peterson Manufacturing Co.

Off-Highway Vehicle Lighting Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

The ongoing transformation in the European norms to accustom the latest technologies with the better safety obligations led by the amplified road speed has raised the demand. This included lodging the LED light source in the vehicle exceeding 2,000 lumens, which has improves the safety and has accounted to be the most prominent driver responsible for the growth of the Off-Highway Vehicle Lighting Market. The rigorous norms concerned with automotive vehicles and the constant innovations will further strengthen the market size.  The Insurance Institute for Highway Safety (IIHS) stated that approximately 45 percent of 2018 model vehicles are countered with high beam assist technology, which has supplemented the market growth. Furthermore, the strategic initiatives by leading players such as product launches have proliferated the market growth. Tyri, in November 2009, divulged a new heavy vehicle lighting system called intelliLight that works on the principle of a wireless mesh network. The lights are connected via Bluetooth in a closed network, confederated with the vehicle that can easily be controlled with the help of an app. However, the inflated cost of LEDs will hamper the Off-Highway Vehicle Lighting market share.

Product Segment Drivers

Based on the product, halogen is expected to expand at a larger share in the near future. This is due to the economical cost of price tags compared to LEDs or HIDs. In addition, their better visibility than the LED lights in winters and foggy weather has supplemented the market growth.

Application Segment Drivers

Based on the application, the headlamp is projected to witness robust growth over the coming years. The technology has extensively evolved over the period than halogen headlamp assemblies and sealed beams. In addition, the improvement in the usage of headlamps to maximize the benefit of improved illumination has driven the market growth.

Regional Drivers

Based on the regional coverage, Asia-Pacific will expand at a faster growth rate due to the robust presence of the players in countries like China, India, Taiwan, and Japan. For example, APS Lighting and Safety, ABL Lights Group have strong prevalence in the nations such as China and Taiwan, leading to market growth. In addition, product innovation of off-highway vehicles has raised market growth. Yamaha, in 2020, officially announced the introduction of ATV models Kodiak 700, Grizzly 2021, and 450 models have bolstered the entire market's growth.

Off-Highway Vehicle Lighting Market Segmentation:

Segmentation by Product

·        LED

·        Halogen

·        HID

·        Incandescent

Segmentation by Application

·        Head Lamp

·        Tail Lamp

·        Work Light

·        Others

Segmentation by Vehicle Type

·        Excavator

·        Loader

·        Crane

·        Dump Truck

·        Tractor

·        Others

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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