OEMs in the ATV light market are including LED lights in ATVs due to their energy-efficiency and cost-effective lighting solutions. Traditionally, halogen lights were installed in ATVs but that limited the efficiency. Consequently, LEDs are being installed as they provide clean and efficient lighting, low power consumption, high lifespan, and high reliability. Technavio's market study identifies the incorporation of LED lighting systems in ATVs to be one of the primary growth factors for the ATV lighting system market. The induction of LED lights in ATV will drive the sales of these vehicles in the market. Our market research analysts estimate that in terms of units, the market will grow at a CAGR of almost 3% by 2021.
According to our analysis, the rapid advancements in technology will be one of the major trends that will gain traction in the ATV lighting system market in the coming years. With rapid technological advances, the size of the LED can be reduced and the luminance can be improved. These technological advancements offer features like advanced dynamic beam system, that allow the light beam to be switched between low and high beam. Also, it provides convenience to oncoming traffic by switching to low beam within a digital controlled switching time. Further, the development of digitally controlled switching mechanisms in LED lights of ATVs will boost the growth of the ATV light market.
Competitive landscape and key vendors
The ATV lighting system market is populated due to the presence of several international and regional players. Market operations are dominated by the aftermarket products. Competition level among the players is intensified due to the introduction of LED lights and the constant advancement in the LED technologies. To attain competitive advantage in the ATV light market, the manufactures are investing heavily in R&D for new technology and product developments.
The leading vendors in the market are
Lazer Star Lights
Vision X USA
The other prominent vendors in the market are Baja Designs, LabTek Off-Road, Magneti Marelli, Nextech Industries, Oracle Lighting, OSRAM, Plasmaglow, Warn Industries, and Xprite.
Segmentation by end-user and analysis of the ATV lighting system market
OEMs are the primary end-users of the ATV lighting system market due to the rising need for maintaining proper safety precautions. OEMs provide the basic lighting features in ATVs. The increasing consumer awareness for safety and convenience aspects of upgraded lighting systems is influencing the OEMs to install high quality lighting systems.
Geographical segmentation and analysis of the ATV lighting system market
The Americas will be the major revenue contributor to the ATV light market due to the widespread use of ATVs in sectors such as recreational, sports, and military and defense activities. Also, increasing design standards and government grants for manufacturing utility ATVs for military and defense purposes, and off-road recreation activities will further boost the growth of the industry segment in the ATV lighting system.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global ATV lighting system market?
What are the key market trends impacting the growth of the global ATV lighting system market?
What are the challenges to market growth?
Who are the key vendors in the global ATV lighting system market?
What are the market opportunities and threats faced by the vendors in the global ATV lighting system market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global ATV lighting system market?
Technavio also offers customization on reports based on specific client requirement.
A vehicle with low-pressure tires, a seat that is straddled by the operator, and handlebars for steering control is known as an all-terrain vehicle. This industry research report on the global ATV lighting system market by Technavio is an integral part of the automotive portfolio and offers insights into the major trends and evolving drivers inducing the growth of the automotive manufacturing industry. Our reports also follow a thorough procedure of data collection methodology and present an analysis of fast growing market subdivisions.
Our market research analysis includes top-down and bottom-up approaches like vendor analysis, drivers, challenges, and trend analysis. Additionally, an analysis of the market share and market size using statistical models is also carried out to help clients develop active growth strategies and keep pace with the frequently changing market landscape. The market research experts at Technavio also take into account the market forecast, market size, and increasing demand for various automotive manufacturing products and services and offers an all-inclusive picture of the global ATV lighting system market for the estimated period of 2017-2021.
As per our market research experts, high rate of customization and increasing use of ATV in agriculture and military applications may influence the demand for ATV lighting system in the coming years. This upcoming market research report on the global ATV lighting system market also covers vendors like Lazerstar lights, VisionX, Polaris Engineered, Osram, Magneti Marelli, Hella, Oracle Lighting, and PIAA. Moreover, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the global ATV lighting system market also covers geographies like the Americas, APAC, and EMEA.
The upcoming industry report on the global ATV lighting system market also offers insights into fast-growing segments within the automotive industry, including sectors like powertrain and automotive electronics. Additionally, this report also presents insights into the varying competitive landscape to give clients a realistic picture of the future direction of the industry.
Our market research methodology for the ATV lighting system market
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