Market Overview:
The global off-highway vehicle lighting market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for off-highway vehicles across various applications such as loaders, excavators, cranes, dump trucks and others. Additionally, factors such as technological advancements and rising awareness about safety are also contributing to the growth of this market. Based on type, the global off-highway vehicle lighting market is segmented into front light, tail light and others. The front light segment is expected to account for a major share of the global market in 2018 owing to its growing demand in construction and mining applications. Based on application, the global off-highway vehicle lighting market is segmented into loaders, excavators Cranes Dump Trucks Others).
Product Definition:
Off-Highway Vehicle Lighting is a term used to describe the lighting systems on vehicles such as ATVs, UTVs, and dirt bikes. These lighting systems are typically used to provide illumination for the driver and passengers while riding in low-light or dark conditions. Off-Highway Vehicle Lighting can also be used to improve the visibility of the vehicle when driving on off-road trails or in other hazardous environments.
Front Light:
The front light is a device that emits forward-facing light for vehicles. It can be used in off-highway vehicles such as construction equipment, agricultural machinery, and others. The growth factor of the market includes increasing demand from emerging economies such as Brazil, China and India due to the growing manufacturing sector along with technological advancements in lighting systems. Additionally, factors like government initiatives towards improving road safety are also expected to drive market growth over the forecast period.
Tail Light:
Tail light is a type of rear lights used on the rear end of an off-highway vehicle. It provides additional safety while driving at night and makes it easier to see other vehicles and pedestrians in the vicinity. The increasing number of road accidents worldwide has led to new government regulations for mandatory use of tail lights in all commercial vehicles, including heavy trucks, buses, trailers, and others.
Application Insights:
The others segment includes the off-highway vehicle lighting applications such as work lamps, warning lights, and emergency lights. The loader application segment accounted for a major market share in 2017 owing to its wide usage across various industries including construction and mining.Loader trucks are used for materials transport on construction sites, highways and other public works projects. They also assist in loading & unloading of goods from trucks onto storage facilities or into warehouses at industrial complexes or airports where there is a requirement of heavy machinery handling.
The demand for excavators is expected to grow at the highest CAGR over the forecast period owing to their rising use across numerous industries including infrastructure, mining & quarrying operations, and civil engineering among others which require large equipment handling capacities on daily basis.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market for off-highway vehicle lighting, registering a CAGR of XX% from 2018 to 2030. The growth can be attributed to increasing demand for construction equipment in countries such as China and India owing to rapid urbanization and growing economies. In addition, rising government initiatives are encouraging OEMs based in China and Japan to manufacture these vehicles within the region, which will further boost product sales over the forecast period.
The European market accounted for over 25% of global revenue share in 2017 due high consumer awareness regarding safety standards associated with OHSVs coupled with stringent regulations laid down by organizations such as ECE (European Conference of Ministers) and SAE (Society of Automotive Engineers). Moreover, presence of prominent players manufacturing agricultural equipment along with other types off-highway vehicles is anticipated to augment regional growth over the next eight years.
Growth Factors:
- Increasing demand for off-highway vehicles from the construction and mining industries
- Growing awareness about the benefits of using off-highway vehicle lighting systems
- Technological advancements in LED lighting systems that offer better performance and durability
- Rising demand for customized lighting solutions to meet specific application requirements
- Growing number of distributors and dealers offering comprehensive aftermarket support
Scope Of The Report
Report Attributes
Report Details
Report Title
Off-Highway Vehicle Lighting Market Research Report
By Type
Front Light, Tail Light, Others
By Application
Loaders, Excavators, Cranes, Dump Trucks, Others
By Companies
OSRAM, Vision X Lighting, Truck Lite, Grote Industries, PowerFleet, PALFINGER, Altec, NORDIC LIGHTS
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
144
Number of Tables & Figures
101
Customization Available
Yes, the report can be customized as per your need.
Global Off-Highway Vehicle Lighting Market Report Segments:
The global Off-Highway Vehicle Lighting market is segmented on the basis of:
Types
Front Light, Tail Light, Others
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
Loaders, Excavators, Cranes, Dump Trucks, 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:
- OSRAM
- Vision X Lighting
- Truck Lite
- Grote Industries
- PowerFleet
- PALFINGER
- Altec
- NORDIC LIGHTS
Highlights of The Off-Highway Vehicle 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:
- Front Light
- Tail Light
- Others
- By Application:
- Loaders
- Excavators
- Cranes
- Dump Trucks
- 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 Off-Highway Vehicle 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
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- Product & Brand Management
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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?
Off-highway vehicle lighting is a system that uses light to illuminate the area around an off-highway vehicle. This allows the operator to see while driving in darkness or poor visibility conditions.
Some of the major companies in the off-highway vehicle lighting market are OSRAM, Vision X Lighting, Truck Lite, Grote Industries, PowerFleet, PALFINGER, Altec, NORDIC LIGHTS.
The off-highway vehicle lighting market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Off-Highway Vehicle 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 Off-Highway Vehicle Lighting Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Off-Highway Vehicle 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 Off-Highway Vehicle 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 Off-Highway Vehicle Lighting Market Size & Forecast, 2020-2028
4.5.1 Off-Highway Vehicle Lighting Market Size and Y-o-Y Growth
4.5.2 Off-Highway Vehicle 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 Front Light
5.2.2 Tail Light
5.2.3 Others
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 Loaders
6.2.2 Excavators
6.2.3 Cranes
6.2.4 Dump Trucks
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Off-Highway Vehicle 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 Off-Highway Vehicle 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 Front Light
9.6.2 Tail Light
9.6.3 Others
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 Loaders
9.10.2 Excavators
9.10.3 Cranes
9.10.4 Dump Trucks
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 Front Light
10.6.2 Tail Light
10.6.3 Others
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 Loaders
10.10.2 Excavators
10.10.3 Cranes
10.10.4 Dump Trucks
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 Front Light
11.6.2 Tail Light
11.6.3 Others
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 Loaders
11.10.2 Excavators
11.10.3 Cranes
11.10.4 Dump Trucks
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 Front Light
12.6.2 Tail Light
12.6.3 Others
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 Loaders
12.10.2 Excavators
12.10.3 Cranes
12.10.4 Dump Trucks
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 Front Light
13.6.2 Tail Light
13.6.3 Others
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 Loaders
13.10.2 Excavators
13.10.3 Cranes
13.10.4 Dump Trucks
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 Off-Highway Vehicle Lighting Market: Competitive Dashboard
14.2 Global Off-Highway Vehicle Lighting Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 OSRAM
14.3.2 Vision X Lighting
14.3.3 Truck Lite
14.3.4 Grote Industries
14.3.5 PowerFleet
14.3.6 PALFINGER
14.3.7 Altec
14.3.8 NORDIC LIGHTS
