Market Overview:
The global side marker lights market is estimated to be valued at US$ 1,362.8 Mn in 2018 and is projected to register a CAGR of 5.1% over the forecast period (2018–2030), according to a new study by Transparency Market Research (TMR). The side marker lights market is anticipated to reach a value of US$ 2,023.5 Mn by 2030 end. Based on type, the global side marker lights market has been segmented into carbon filament bulb and LED. In terms of revenue share, LED held majority share in 2017 and is expected to maintain its dominance throughout the forecast period. Carbon filament bulbs are gradually losing their popularity owing to low efficiency and high maintenance cost as compared with LEDs which are energy-efficient and have longer life span.
Product Definition:
A side marker light is a small, wedge-shaped light on the side of a vehicle that is used to indicate the vehicle's presence and position to other drivers. Side marker lights are typically required on all vehicles except motorcycles.
Carbon Filament Bulb:
Carbon filament bulb is a type of light source that consists of a carbon filament enclosed in an opaque glass or plastic globe. The light produced by these bulbs is directional and therefore can be used to direct the light where it is required. These are available in various sizes and shapes and their prices vary accordingly. They are widely used as side marker lights on vehicles owing to their ability to produce white bright lights with less power consumption, which makes them suitable for use as vehicle lighting sources.
LED:
LED is a type of semiconductor that produces light when current is applied to it. The most commonly used LED types are general illumination, automotive, and traffic signal LEDs. They are small in size, consume less power compared to conventional lights and can be easily incorporated into any product or device. Due to their features such as high intensity brightness (HIB), longer life span and low energy consumption they have replaced incandescent bulbs in many applications across the globe.
Application Insights:
The passenger vehicle segment held the largest share of over 70.0% in 2017. The growing need for marking vehicles at night to improve road safety is the key factor for this growth. Side marker lights are required on all commercial and passenger vehicles, as well as light trucks, operating on roads at night time owing to increased risks of accidents caused by poor visibility due to darkness or rain.
The use of LED-based side markers has been gaining popularity in recent years owing to their energy-efficient operation and long life span compared with other types such as HID or halogen lamps used traditionally in cars and trucks respectively.
Regional Analysis:
Europe was the largest regional side marker lights market in 2017 owing to stringent regulations implemented by the European government. For instance, in April 2018, EU5 countries (U.K., Germany, Italy, France and Romania) have adopted a regulation that will make it compulsory for all new passenger cars to incorporate LED lights as well as indicators at each side of the front axle by 2020. This is likely to boost product demand over the forecast period.
Asia Pacific is projected to be one of the fastest-growing regions due to increasing number of accidents and vehicle thefts across various countries including India.
Growth Factors:
- Increasing demand for automobiles
- Technological advancements in side marker lights
- Stringent government regulations for vehicle safety standards
- Rising consumer awareness about the benefits of side marker lights
- Growing demand from emerging markets
Scope Of The Report
Report Attributes
Report Details
Report Title
Side Marker Lights Market Research Report
By Type
Carbon Filament Bulb, LED
By Application
Passenger Vehicle, Commercial Vehicle
By Companies
Hella, Magneti Marelli, Valeo, Philips, OSRAM, Koito, Stanley Electric, ZKW Group, Peterson Manufacturing Company, Maxxima
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
153
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Side Marker Lights Market Report Segments:
The global Side Marker Lights market is segmented on the basis of:
Types
Carbon Filament Bulb, LED
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
Passenger Vehicle, Commercial Vehicle
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:
- Hella
- Magneti Marelli
- Valeo
- Philips
- OSRAM
- Koito
- Stanley Electric
- ZKW Group
- Peterson Manufacturing Company
- Maxxima
Highlights of The Side Marker Lights 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:
- Carbon Filament Bulb
- LED
- By Application:
- Passenger Vehicle
- Commercial Vehicle
- 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 Side Marker Lights 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?
Side marker lights are typically used on vehicles to indicate the side of the road that the vehicle is traveling on.
Some of the key players operating in the side marker lights market are Hella, Magneti Marelli, Valeo, Philips, OSRAM, Koito, Stanley Electric, ZKW Group, Peterson Manufacturing Company, Maxxima.
The side marker lights market is expected to grow at a compound annual growth rate of 5.1%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Side Marker Lights 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 Side Marker Lights Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Side Marker Lights 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 Side Marker Lights 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 Side Marker Lights Market Size & Forecast, 2018-2028
4.5.1 Side Marker Lights Market Size and Y-o-Y Growth
4.5.2 Side Marker Lights Market Absolute $ Opportunity
Chapter 5 Global Side Marker Lights 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 Side Marker Lights Market Size Forecast by Type
5.2.1 Carbon Filament Bulb
5.2.2 LED
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Side Marker Lights 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 Side Marker Lights Market Size Forecast by Applications
6.2.1 Passenger Vehicle
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Side Marker Lights 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 Side Marker Lights 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 Side Marker Lights Analysis and Forecast
9.1 Introduction
9.2 North America Side Marker Lights 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 Side Marker Lights Market Size Forecast by Type
9.6.1 Carbon Filament Bulb
9.6.2 LED
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 Side Marker Lights Market Size Forecast by Applications
9.10.1 Passenger Vehicle
9.10.2 Commercial Vehicle
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 Side Marker Lights Analysis and Forecast
10.1 Introduction
10.2 Europe Side Marker Lights 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 Side Marker Lights Market Size Forecast by Type
10.6.1 Carbon Filament Bulb
10.6.2 LED
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 Side Marker Lights Market Size Forecast by Applications
10.10.1 Passenger Vehicle
10.10.2 Commercial Vehicle
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 Side Marker Lights Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Side Marker Lights 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 Side Marker Lights Market Size Forecast by Type
11.6.1 Carbon Filament Bulb
11.6.2 LED
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 Side Marker Lights Market Size Forecast by Applications
11.10.1 Passenger Vehicle
11.10.2 Commercial Vehicle
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 Side Marker Lights Analysis and Forecast
12.1 Introduction
12.2 Latin America Side Marker Lights 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 Side Marker Lights Market Size Forecast by Type
12.6.1 Carbon Filament Bulb
12.6.2 LED
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 Side Marker Lights Market Size Forecast by Applications
12.10.1 Passenger Vehicle
12.10.2 Commercial Vehicle
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) Side Marker Lights Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Side Marker Lights 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) Side Marker Lights Market Size Forecast by Type
13.6.1 Carbon Filament Bulb
13.6.2 LED
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) Side Marker Lights Market Size Forecast by Applications
13.10.1 Passenger Vehicle
13.10.2 Commercial Vehicle
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 Side Marker Lights Market: Competitive Dashboard
14.2 Global Side Marker Lights Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hella
14.3.2 Magneti Marelli
14.3.3 Valeo
14.3.4 Philips
14.3.5 OSRAM
14.3.6 Koito
14.3.7 Stanley Electric
14.3.8 ZKW Group
14.3.9 Peterson Manufacturing Company
14.3.10 Maxxima
