Market Overview:
The global heavy commercial 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, especially in emerging economies such as China and India. Additionally, the increasing focus on safety and security is also driving the demand for heavy commercial vehicles lighting products such as xenon lights, halogen lights, LED lights, and others. The global heavy commercial vehicles lighting market by type is segmented into xenon lights, halogen lights, LED lights, and others. Xenon Lights are expected to hold a major share of the global Heavy Commercial Vehicles Lighting Market by type during the forecast period from 2018 to 2030 owing to their superior performance in terms of brightness and durability when compared with other types of light bulbs available in the market. Halogen Lights are projected to be second largest segment due their low cost as compared with other types of light bulbs available in the market.
Product Definition:
Heavy commercial vehicles lighting is an important aspect of safe driving. The use of proper lighting on these types of vehicles can help to make them more visible to other drivers, and can also help to light the way for drivers when traveling at night or in low-light conditions.
Xenon Lights:
Xenon lights are the most efficient and environment-friendly light source. They have longer life, low maintenance cost, and high reliability as compared to other lighting technologies. The growth factor in the heavy commercial vehicles lighting market is that they offer higher performance at a lower cost which makes them ideal for emerging countries where infrastructure is expanding rapidly and traffic management systems are being installed on a large scale.
Halogen Lights:
Halogen lights are a type of incandescent light bulb that is manufactured using gas. The most common types of halogen lamps used in vehicles are the HID light bulbs and LED replacement bulbs. Halogen lights have a longer lifespan than other lighting systems, however, they produce less lumens per wattage than HID or LED counterparts making them less efficient for use in headlamps and taillights.
Application Insights:
The market is segmented on the basis of application into front light, rear combination light, fog lights, interior lighting and others. The other applications include side lights and roof mounted lights. The interior lighting segment accounted for a major share in 2017 owing to the growing demand from automotive manufacturers for vehicles equipped with high-tech features such as advanced safety systems and entertainment systems. Moreover, growth in commercial activities such as tourism that involves night travel has increased the need for better illumination inside vehicles which is likely to drive growth over the forecast period.
Front light was estimated as one of the largest segments owing to its increasing usage by various vehicle manufacturers across all regions including Asia Pacific, North America and Europe among others.
Regional Analysis:
Europe dominated the global heavy commercial vehicles lighting market in 2017 and is expected to continue its dominance over the forecast period. The presence of prominent players, technological advancements, stringent regulations for road safety are some of the major factors responsible for this dominance. Europe has also been one of the largest markets for automotive products owing to high demand from several industries including logistics, transport & delivery and warehousing.
Asia Pacific is projected to be one of fastest-growing regions with a CAGR exceeding 5% during the forecast period owing to increasing number of manufacturing facilities in emerging economies such as China and India along with other developing countries such as Indonesia and Vietnam. In addition, rising adoption rate due to favorable government initiatives on improving road infrastructure are among few other factors driving growth in Asia Pacific region.
Growth Factors:
- Increasing demand for commercial vehicles for goods transportation
- Rising disposable income of consumers, which is resulting in an increase in the demand for luxury and comfort features in commercial vehicles
- Technological advancements that are making heavy commercial vehicle lighting systems more efficient and durable
- Stringent government regulations pertaining to safety and emissions that are driving the adoption of advanced lighting systems in heavy commercial vehicles
- Growing awareness about the benefits of using advanced lighting systems among fleet operators and truck drivers
Scope Of The Report
Report Attributes
Report Details
Report Title
Heavy Commercial 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, Magneti Marelli, ZKW Group, Lumax Industries, Varroc, TYC, Xingyu
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
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Heavy Commercial Vehicles Lighting Market Report Segments:
The global Heavy Commercial 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
- Magneti Marelli
- ZKW Group
- Lumax Industries
- Varroc
- TYC
- Xingyu
Highlights of The Heavy Commercial 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 Commercial 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 commercial vehicles (HCVs) are typically large, heavy trucks that are used for transporting goods. HCVs often have more powerful headlights and taillights than regular passenger cars, in order to make them more visible on the road at night.
Some of the major companies in the heavy commercial vehicles lighting market are Koito, Valeo, Hella, Magneti Marelli, ZKW Group, Lumax Industries, Varroc, TYC, Xingyu.
The heavy commercial vehicles lighting market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Heavy Commercial Vehicles Lighting Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Heavy Commercial Vehicles Lighting Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Heavy Commercial Vehicles Lighting Market - Supply Chain
4.5. Global Heavy Commercial Vehicles Lighting Market Forecast
4.5.1. Heavy Commercial Vehicles Lighting Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Heavy Commercial Vehicles Lighting Market Size (000 Units) and Y-o-Y Growth
4.5.3. Heavy Commercial Vehicles Lighting Market Absolute $ Opportunity
5. Global Heavy Commercial Vehicles Lighting Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Type
5.3.1. Xenon Lights
5.3.2. Halogen Lights
5.3.3. LED
5.3.4. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Heavy Commercial Vehicles Lighting Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Application
6.3.1. Front Light
6.3.2. Rear Combination Light
6.3.3. Fog Lights
6.3.4. Interior Lighting
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Heavy Commercial Vehicles Lighting Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Heavy Commercial Vehicles Lighting Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Heavy Commercial Vehicles Lighting Demand Share Forecast, 2019-2026
9. North America Heavy Commercial Vehicles Lighting Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Application
9.4.1. Front Light
9.4.2. Rear Combination Light
9.4.3. Fog Lights
9.4.4. Interior Lighting
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Type
9.7.1. Xenon Lights
9.7.2. Halogen Lights
9.7.3. LED
9.7.4. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Heavy Commercial Vehicles Lighting Demand Share Forecast, 2019-2026
10. Latin America Heavy Commercial Vehicles Lighting Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Application
10.4.1. Front Light
10.4.2. Rear Combination Light
10.4.3. Fog Lights
10.4.4. Interior Lighting
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Type
10.7.1. Xenon Lights
10.7.2. Halogen Lights
10.7.3. LED
10.7.4. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Heavy Commercial Vehicles Lighting Demand Share Forecast, 2019-2026
11. Europe Heavy Commercial Vehicles Lighting Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Application
11.4.1. Front Light
11.4.2. Rear Combination Light
11.4.3. Fog Lights
11.4.4. Interior Lighting
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Type
11.7.1. Xenon Lights
11.7.2. Halogen Lights
11.7.3. LED
11.7.4. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Heavy Commercial Vehicles Lighting Demand Share, 2019-2026
12. Asia Pacific Heavy Commercial Vehicles Lighting Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Application
12.4.1. Front Light
12.4.2. Rear Combination Light
12.4.3. Fog Lights
12.4.4. Interior Lighting
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Type
12.7.1. Xenon Lights
12.7.2. Halogen Lights
12.7.3. LED
12.7.4. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Heavy Commercial Vehicles Lighting Demand Share, 2019-2026
13. Middle East & Africa Heavy Commercial Vehicles Lighting Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Heavy Commercial Vehicles Lighting Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Application
13.4.1. Front Light
13.4.2. Rear Combination Light
13.4.3. Fog Lights
13.4.4. Interior Lighting
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Heavy Commercial Vehicles Lighting Market Size and Volume Forecast by Type
13.7.1. Xenon Lights
13.7.2. Halogen Lights
13.7.3. LED
13.7.4. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Heavy Commercial Vehicles Lighting Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Heavy Commercial Vehicles Lighting Market: Market Share Analysis
14.2. Heavy Commercial Vehicles Lighting Distributors and Customers
14.3. Heavy Commercial Vehicles Lighting Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Koito
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Valeo
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Hella
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Magneti Marelli
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. ZKW Group
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Lumax Industries
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Varroc
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. TYC
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Xingyu
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
