The On-Highway Vehicle Lighting Global Market Report 2023, provides comprehensive information on the on-highway vehicle lighting market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global on-highway vehicle lighting market size is expected to grow from $28.55 billion in 2022 to $30.16 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global on-highway vehicle lighting market size is expected to grow to $36.86 billion in 2027 at a CAGR of 5.1%.
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Product innovation has emerged as a key trend gaining popularity in the on-highway vehicle lighting market. Major companies operating in the on-highway vehicle lighting market are introducing innovative products to strengthen their position in the market. For instance, in January 2023, Nichia Corporation, a Japan-based chemical and manufacturing company, and Infineon Technologies AG, a Germany-based semiconductor manufacturing company together launched micro PLS micro-Pixelated LED Light, a high-definition fully integrated micro-LED light engine for HD adaptive driving beam applications, based on matrix LED technology. It combines high-definition resolution with the industry’s highest light output and also provides a four times wider field-of-view with higher light output than any other current micro-mirror-based HD matrix-light solution.
The on-highway vehicle lighting market 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 2022.
The table of contents in TBRC’s on-highway vehicle lighting market report 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. On-Highway Vehicle Lighting Market Size And Growth
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26. Africa On-Highway Vehicle Lighting Market
27. On-Highway Vehicle Lighting Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The On-Highway Vehicle Lighting Market
29. On-Highway Vehicle Lighting Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Koninklijke Philips N.V
- Koito Manufacturing Ltd
- ZKW Group
- TYC Genera Corporation
- Valeo S.A
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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. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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