Market Overview:
The global heavy duty truck vehicles lighting market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for commercial vehicles, rising awareness about vehicle safety, and technological advancements in LED lighting systems. Based on type, the global heavy duty truck vehicles lighting market is segmented into xenon lights, halogen lights, LED lights, and other types. Xenon lights are expected to hold the largest share of the market in 2018 owing to their high brightness and long life span as compared to other light sources. Halogen lights are projected to be the fastest-growing segment during the forecast period due their low cost and easy installation. Based on application, front light helds a major share of global heavy duty truck vehicles lighting market in 2017 followed by rear combination light . Regionally North America accounted for maximum revenue share followed by Europe & Asia Pacific region respectively in 2017 across globe .
Product Definition:
Heavy Duty Truck Vehicles Lighting is used to provide light for the driver while driving and to improve the visibility of the vehicle for other drivers. It is important for Heavy Duty Truck Vehicles Lighting to be bright and clear so that drivers can see obstacles in the road and avoid collisions.
Xenon Lights:
Xenon lights are the most efficient and modern light source available in the market. They have a longer life span, better performance, and higher reliability as compared to other conventional sources such as HID or halogen bulbs. Moreover, they offer features such as instant on/off feature with no warm-up time and low power consumption which makes them ideal for use in commercial vehicles.
Halogen Lights:
Halogen lights are a type of incandescent light bulb that is manufactured using gas. The most common types of halogen lights used in heavy-duty vehicles include HID lamps and halogen reflectors. Halogens have low energy consumption compared to High-Intensity Discharge (HID) lamps and reflectors, which makes them an ideal choice for applications such as interior lighting in trucks.
Application Insights:
On the basis of application, the market is segmented into front light, rear combination light, fog lights, interior lighting and others. The front combination light segment held a major share in 2017 owing to increasing demand for LED or HID headlights with advanced features such as adaptive cruise control and lane departure warning system among other safety systems. Moreover, growing emphasis on improving vehicle aesthetics is expected to drive the demand for these lights over the forecast period.
Rear combination lights are projected to witness significant growth over the forecast period owing to their rising use in various applications such as trailer coupling and load detection among others. Growing adoption of heavy-duty trucks across industries including mining & quarrying; logistics; waste management; public transportation; and oil & gas among others has resulted in increased need for safety equipment which includes lighting solutions along with it being one of its basic requirements globally.
Regional Analysis:
The Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to rising investments in infrastructure development, coupled with increasing demand for heavy-duty trucks from various industries including construction, mining, oil & gas and others. Moreover, growing awareness regarding road safety has resulted in increased adoption of truck lighting systems across this region.
Europe was the second-largest market for heavy duty truck vehicles lighting after Asia Pacific with a revenue share of more than 20% in 2017 owing to high acceptance rate of advanced technologies such as LED lights among other factors. In addition, presence of major players such as OSRAM GmbH & Co., Herstellungs KG and Signify Holdings PLC based out of Germany are likely to contribute towards regional growth over the next eight years or so.
Growth Factors:
- Increasing demand for commercial vehicles: The global market for commercial vehicles is expected to grow at a CAGR of more than 5% during the forecast period. This will lead to an increase in demand for heavy duty truck vehicles lighting products, as they are used extensively in these vehicles.
- Technological advancements: The development of new and innovative technologies has led to the introduction of advanced lighting products in the market, which are more efficient and offer better performance than traditional products. This is likely to boost the growth of the heavy duty truck vehicles lighting market during the forecast period.
- Rising awareness about safety: There is a growing awareness among consumers about safety while driving, especially when it comes to night time driving conditions. As a result, there is an increasing demand for advanced lighting solutions that can improve visibility and reduce chances of accidents occurring during night time drives. This will spur growth in the heavy duty truck vehicles lighting market over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Heavy Duty Truck Vehicles Lighting Market Research Report
By Type
Xenon Lights, Halogen Lights, LED, Other
By Application
Front Light, Rear Combination Light, Fog Lights, Interior Lighting, Others
By Companies
Koito, Valeo, Hella, Marelli, ZKW Group, Lumax Industries, Varroc, TYC, Xingyu, Koito
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
186
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Heavy Duty Truck Vehicles Lighting Market Report Segments:
The global Heavy Duty Truck Vehicles Lighting market is segmented on the basis of:
Types
Xenon Lights, Halogen Lights, LED, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Front Light, Rear Combination Light, Fog Lights, Interior Lighting, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Koito
- Valeo
- Hella
- Marelli
- ZKW Group
- Lumax Industries
- Varroc
- TYC
- Xingyu
- Koito
Highlights of The Heavy Duty Truck Vehicles Lighting Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Xenon Lights
- Halogen Lights
- LED
- Other
- By Application:
- Front Light
- Rear Combination Light
- Fog Lights
- Interior Lighting
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Heavy Duty Truck Vehicles Lighting Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Heavy duty truck vehicles lighting refers to the use of lighting systems on trucks that are designed for long-distance travel and heavy loads. These systems typically include high-intensity discharge (HID) headlamps, fog lamps, and auxiliary driving lamps.
Some of the major companies in the heavy duty truck vehicles lighting market are Koito, Valeo, Hella, Marelli, ZKW Group, Lumax Industries, Varroc, TYC, Xingyu, Koito.
The heavy duty truck vehicles lighting market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Heavy Duty Truck Vehicles Lighting Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Heavy Duty Truck Vehicles Lighting Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Heavy Duty Truck Vehicles Lighting Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Heavy Duty Truck Vehicles Lighting Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Heavy Duty Truck Vehicles Lighting Market Size & Forecast, 2020-2028
4.5.1 Heavy Duty Truck Vehicles Lighting Market Size and Y-o-Y Growth
4.5.2 Heavy Duty Truck Vehicles Lighting Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Xenon Lights
5.2.2 Halogen Lights
5.2.3 LED
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Front Light
6.2.2 Rear Combination Light
6.2.3 Fog Lights
6.2.4 Interior Lighting
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Heavy Duty Truck Vehicles Lighting Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Heavy Duty Truck Vehicles Lighting Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Xenon Lights
9.6.2 Halogen Lights
9.6.3 LED
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Front Light
9.10.2 Rear Combination Light
9.10.3 Fog Lights
9.10.4 Interior Lighting
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Xenon Lights
10.6.2 Halogen Lights
10.6.3 LED
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Front Light
10.10.2 Rear Combination Light
10.10.3 Fog Lights
10.10.4 Interior Lighting
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Xenon Lights
11.6.2 Halogen Lights
11.6.3 LED
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Front Light
11.10.2 Rear Combination Light
11.10.3 Fog Lights
11.10.4 Interior Lighting
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Xenon Lights
12.6.2 Halogen Lights
12.6.3 LED
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Front Light
12.10.2 Rear Combination Light
12.10.3 Fog Lights
12.10.4 Interior Lighting
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Xenon Lights
13.6.2 Halogen Lights
13.6.3 LED
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Front Light
13.10.2 Rear Combination Light
13.10.3 Fog Lights
13.10.4 Interior Lighting
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Heavy Duty Truck Vehicles Lighting Market: Competitive Dashboard
14.2 Global Heavy Duty Truck Vehicles Lighting Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Koito
14.3.2 Valeo
14.3.3 Hella
14.3.4 Marelli
14.3.5 ZKW Group
14.3.6 Lumax Industries
14.3.7 Varroc
14.3.8 TYC
14.3.9 Xingyu
14.3.10 Koito
