On-Highway Vehicle Lighting Market Size and Forecast 2023-2032| Koninklijke Philips N.V., Koito Manufacturing Ltd., ZKW Group, TYC Genera Corporation, Valeo S.A.

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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