Global On-Highway Vehicle Lighting Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global On-Highway Vehicle Lighting Market 2021 (Includes Business Impact of COVID-19)
Global On-Highway Vehicle Lighting Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global On-Highway Vehicle Lighting market report has been segmented on the basis of product type, application, vehicle type, and region.

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The global On-Highway Vehicle Lighting market size was valued at USD$27.34 billion in 2020 and is projected to reach USD $ 44.93 billion by 2030, and is anticipated to expand at a CAGR of 5.07% over the forecast period from 2020 to 2030.


Global On-Highway Vehicle Lighting Market: Overview


Lighting is a major concern for vehicle and passenger safety. On-highway vehicle lighting is a term used for lighting used in passenger and commercial vehicles, excluding off-road vehicles. All vehicles are equipped with various types of lighting such as exterior and interior. Interior lighting is basically used to improve esthetic appearance of interior of the vehicle.


Global On-Highway Vehicle Lighting Market: Dynamics


Increasing government regulations in order to improve visibility and increasing penetration of energy-efficient light sources are major factors expected to drive growth of the global market over the forecast period.

In addition, rising adoption of energy-efficient and advanced lighting technologies, such as LASER and Light-Emitting Diode (LED) by automobile manufacturers across the globe is another factor expected to further boost growth of the target market over the forecast period.

Moreover, technological advancements in automotive lighting, improved energy efficiency, and increasing focus towards road safety are some other factors expected to propel growth of the global market over the forecast period.

Furthermore, increasing concerns and stringent government regulations regarding road safety is among the important factor expected to boost growth of the target market over the forecast period.

However, changing climate across various countries, due to global warming creates smog, which acts as a key restraint for the global market over the forecast period.

Ongoing trend observed in the target market is increasing research and development activities and increasing investments in LED technology, which result in decrease the prices of LED lamps. This trend is expected to continue over the forecast period and support growth of the target market.

Stringent government regulations regarding the use of energy-efficient lighting sources are expected to create potential revenue opportunities for players operating in the target market over the forecast period. For instance, in 2017 the government of Indian mandated the use of Daytime Running Lamps (DRLs) and Automatic Headlamp On (AHO) for two-wheelers, which in turn expected to support growth of to the market in Asia Pacific.


Global On-Highway Vehicle Lighting Market: Segment Analysis


Among the product segments, the LED segment is expected to dominate in the target market over the forecast period, owing to cost-effective LED lights as extensive R&D activities in order to introduce advanced and innovative products.

Among the application segments, the headlight segment is expected to register significant growth in terms of revenue over the forecast period, owing to increasing demand for light sources across front headlamps, DRLs, side lamps, and fog lamps.

Among the vehicle type segments, the passenger car segment is expected to account for highest market share over the forecast period.


Global On-Highway Vehicle Lighting Market: Regional Analysis


The market in Asia Pacific is expected to dominate in the global on-highway vehicle lighting market in terms of revenue over the forecast period, owing to rapidly growing automotive industry across emerging economies such as India and China.

The market in Europe is expected to register second-highest growth in terms of CAGR over the forecast period, owing to stringent government regulations across various countries in this region.

The market in North America is expected to register significant growth in terms of revenue over the forecast period, owing to increasing preference towards road safety across various countries in the region.


Below are the active patents related to Microgrid Control System Market.


Patent Number: US20120051078A1

Vehicle headlamp

Abstract

A vehicle headlamp includes a light source; a projection optical system that includes a projection lens projecting an image, formed by a light beam emitted from the light, source, forward of the vehicle; and a reflection optical system including a parabolic reflector that is provided at a position offset from the projection lens as viewed from the front of the vehicle, and that reflects the light beam emitted from the light source and irradiates the same in front of the vehicle, wherein the reflector has a light distribution pattern irradiating a region including a cut line, and the projection optical system has a light distribution pattern irradiating downward with respect to the reflector.

Application File Date: 2011-08-12

Application Granted Date: 2014-05-20

Current Assignee: Subaru Corp

Patent Number: US20080112173A1

Adaptive front lighting system for a vehicle

Abstract

An adaptive front headlamp assembly capable of down the road illumination and peripheral and foreground illumination is provided. The headlamp assembly comprises a housing adapted for stationary mounting to the vehicle. A stationary primary lighting module disposed within the housing and configured for down the road illumination. A stationary adaptive front lighting module disposed within the housing, configured for peripheral and foreground illumination, includes a plurality of LED light sources capable of emitting light in response to the vehicles turning radius.

Application File Date: 2006-11-10

Application Granted Date: 2009-06-02

Current Assignee: Ford Global Technologies LLC

Patent Number: US20140218946A1

Short-Range Cornering Light in an Exterior Mirror

Abstract

The invention relates to a short-range cornering light in the exterior mirror (3) of a vehicle, which contains at least one lighting unit (5) that comprises at least one mirror blinker, characterized in that the lighting unit (5) contains means for illuminating a short-range area (6) that extends at least alongside the vehicle and in front of the exterior mirror (3) in the driving direction, wherein the means can be activated below a threshold speed of the vehicle (1).

Application File Date: 2012-06-26

Application Granted Date: 2016-12-27

Current Assignee: SMR Patents SARL

Global On-Highway Vehicle Lighting Market Segmentation:

Segmentation by product type:

  
Halogen
  
HID
  
LED
  
Incandescent
  
LASER

Segmentation by Application:

  
Headlight
  
Exterior Lights
  
Internal Lights

Segmentation by Vehicle Type

  
Motorcycle
  
Passenger Cars
  
Buses
  
Light Trucks (Class 1-3)
  
Medium Trucks (Class 4-6)
  
Heavy Trucks (Class 7 & 8)


Key Market Players included in the report:


  
KOITO MANUFACTURING CO.LTD.
  
Koninklijke Philips N.V.
  
Magneti Marelli S.p.A.
  
Marelli Automotive Lighting
  
Maxxima
  
Optronics International LLC
  
Spyder Auto
  
TYC Genera
  
TYC Genera and Valeo S.A.
  
Valeo
  
Zizala Lichtsysteme GmbH (LG Electronics)
  
ZKW Group


Below are the key development related to On-Highway Vehicle Lighting Market in 2020 and 2021.


February 2020: Cepton Expands With $50 Million Investment From Koito. SAN JOSE, Cepton Technologies, Inc., a leading provider of state-of-the-art, intelligent, lidar-based solutions, announced that it has raised over $50 million in Series C funding. This brings Cepton’s total funding to nearly $100 million, providing a strong foundation to substantially ramp up its R&D efforts, expand its footprint in the automotive market and support major customers worldwide. The latest funding round was led by Koito Manufacturing Co., Ltd. (TYO:7276), the automotive Tier 1 and world-leading provider of automotive lighting systems, with an investment of $50 million. Existing investors in Cepton also participated in this round. As part of the transaction, Koito will obtain non-exclusive rights to manufacture and sell Cepton’s lidar sensor design for an automotive application, using key components supplied by Cepton. Cepton will use the proceeds to accelerate development and deployment of its advanced lidar technology in ADAS applications, in autonomous vehicle applications, as well as in other fast-growing markets such as smart cities / intelligent transportation systems (ITS) and security. Source