On-Highway Vehicle Lighting Market Size, Growth Drivers, Trends And Forecast 2033

Overview and Scope

On-highway vehicle lighting refers to all the illumination systems used in vehicles, which help them in navigation along the highways, where streetlights are not present. This lighting is used for the safe navigation of vehicles on highways.

 

Sizing and Forecast

The on-highway vehicle lighting market size has grown strongly in recent years. It will grow from $29.85 billion in 2023 to $31.55 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%.  The growth in the historic period can be attributed to advancements in automotive manufacturing, innovation in lighting materials, environmental concerns, consumer demand for efficiency, automotive design evolution.

 

The on-highway vehicle lighting market size is expected to see strong growth in the next few years. It will grow to $39.4 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.  The growth in the forecast period can be attributed to regulatory changes and standards, integration of advanced feature, demand for energy efficiency, automotive design trends, emergence of autonomous vehicles. Major trends in the forecast period include embrace of connected car concepts, customization and personalization, focus on safety innovations, aesthetic and brand differentiation, shift to energy-efficient solutions.

 

To access more details regarding this report, visit the link:

https://www.thebusinessresearchcompany.com/report/on-highway-vehicle-lighting-global-market-report

 

Segmentation & Regional Insights

The on-highway vehicle lighting market covered in this report is segmented –

1) By Product: Halogen, HID, LED, Incandescent, LASER

2) By Application: Headlight, Exterior Lights, Internal Lights

3) By Vehicle Type: Motorcycle, Passenger Cars, Buses, Light Trucks (Class 1-3), Medium Trucks (Class 4-6), Heavy Trucks (Class 7 & 8)

 

Asia-Pacific was the largest region in the on-highway vehicle lighting market in 2023. The regions covered in the on-highway vehicle lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

 

Intrigued to explore the contents? Secure your hands-on sample copy of the report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=9330&type=smp

 

Major Driver Impacting Market Growth

Increased road accidents due to low visibility and fog are expected to propel the growth of the on-highway vehicle lighting market. Fog is a dense cloud that is present on the ground which reduces the visibility of roads and can cause accidents. Fog lights and normal lighting are useful in increasing visibility in foggy conditions and avoiding accidents due to low visibility. For instance, in 2022, according to the Federal Highway Administration of the US Department of Transportation, a US-based highway transportation agency, about 38,700 vehicle crashes occurred due to fog. Over 600 people were killed and 16,300 people were injured. As a result, the increased road accidents due to low visibility and fog are driving the growth of the on-highway vehicle lighting market.

 

Key Industry Players

Major companies operating in the on-highway vehicle lighting market are developing innovative products such as digital front-lighting (DFL) to meet larger customer bases, more sales, and increase revenue. Digital front-lighting (DFL) refers to an advanced automotive lighting technology that utilizes digital control and projection systems to enhance visibility and optimize illumination on the road. For instance, in July 2023, Marelli, an Italy-based automotive industry company, together with Osram, a Germany-based photonics company, launched h-Digi microLED. The distinctive feature of this digital lighting solution lies in its utilization of an intelligent multipixel LED, known as the h-Digi microLED module, which offers fully adaptive and dynamic headlight operation along with image projection. With approximately 40,000 LED pixels (20,000 per lamp) arranged in a matrix illumination system, this technology enables selective management of LEDs to create highly flexible low-beam and high-beam light distributions. The system adapts to various driving scenarios, including options for Town, Country, Motorway, or Adverse weather conditions. Furthermore, it incorporates dynamic curve lighting and precise glare-free high beam block-out zones, effectively preventing the blinding of oncoming drivers. Notably, this innovative lighting solution is designed to be affordable and accessible for a broader range of vehicles.

 

The on-highway vehicle lighting market report table of contents includes:

1. Executive Summary
2. On-Highway Vehicle Lighting Market Characteristics
3. On-Highway Vehicle Lighting Market Trends And Strategies
4. On-Highway Vehicle Lighting Market – Macro Economic Scenario
5. Global On-Highway Vehicle Lighting Market Size and Growth
6. On-Highway Vehicle Lighting Market Segmentation
7. On-Highway Vehicle Lighting Market Regional And Country Analysis

…………..

33. Key Mergers And Acquisitions In The On-Highway Vehicle Lighting Market
34. On-Highway Vehicle Lighting Market Future Outlook and Potential Analysis
35. Appendix

 

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global On-Highway Vehicle Lighting Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global On-Highway Vehicle Lighting Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global On-Highway Vehicle Lighting Market, Segmentation By Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

……..

Table 74: Koninklijke Philips N.V. Financial Performance

Table 75: Koito Manufacturing Co. Ltd. Financial Performance

Table 76: ZKW Group GmbH & Co. KG Financial Performance

Table 77: TYC Genera Corporation Financial Performance

Table 78: Valeo S.A. Financial Performance

 

Explore the trending research reports from TBRC:

https://goodprnews.com/lactose-intolerance-treatment-market-size/

https://topprnews.com/libraries-and-archives-market-share/

 

Learn About Us:

The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.

 

Contact Us:

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 88972 63534

Americas: +1 315 623 0293

Email: info@tbrc.info

 

Follow Us On:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

Twitter: https://twitter.com/tbrc_info

Facebook: https://www.facebook.com/TheBusinessResearchCompany

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Blog: https://blog.tbrc.info/

Healthcare Blog: https://healthcareresearchreports.com/

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model