Global Commercial Vehicle Lighting System Market 2017-2021

Overview of the global commercial vehicle (CV) lighting system market

Market research analysts at Technavio predict that the global commercial vehicle (CV) lighting system market will grow steadily at a CAGR of over 6% by 2021. This market research and analysis identifies the increasing safety regulations for lighting systems as one of the primary growth factors for this market. The basic purpose of lighting is to improve visibility and enable drivers to guide and control the vehicle along the road and simultaneously avoid obstacles and pedestrians. Systems such as adaptive front lighting systems are gaining popularity in the market owing to the improved safety they provide. The increasing need for safety will drive the adoption of automotive lighting systems, which will in turn, contribute to the growth of the commercial vehicle lighting market during the forecast period.

The increasing development of thermal imaging cameras to make night time riding safe is one of the latest trends that will gain traction in the commercial vehicle (CV) lighting system market in the coming years. The introduction of thermal imaging cameras is a new development that has the potential to enhance the safety of the rider and the vehicle. For instance, thermal imaging cameras offered by FLIR systems for the passenger cars segment allows the rider to easily spot debris on the road that is difficult to spot through the light. Additionally, these systems do not require lights to produce an image which is an added advantage that is beneficial during harsh weather conditions.

Competitive landscape and key vendors

The CV lighting system market is highly fragmented due to the presence of many global and regional vendors. Constant innovations and the development of new products have resulted in intense competition among the lighting system manufacturers. The market is dependent on the sales of CVs and is driven by the increase in vehicle production.

The leading vendors in the market are -

• Federal-Mogul
• HELLA
• Magneti Marelli
• OSRAM
• Valeo

The other prominent vendors in the market include NEOLITE, SL Corporation, STANLEY ELECTRIC Co., and Varroc Group.

Segmentation by lighting technology and analysis of the CV lighting system market

• Halogen
• LED
• Xenon

During 2016, the halogen segment accounted for the major shares of this market. Halogen lights are expected to have a strong penetration in headlamps and aftermarket replacement products in some regions owing to their low cost and easy availability. This will be a major factor contributing to the growth of this market segment in the coming years.

Geographical segmentation and analysis of the CV lighting system market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market by 2021. The growth in the CV lighting system market in the US will mainly attribute to the growth in new construction and mining projects that are scheduled to start during the forecast period. Additionally, regulations regarding the installation of lighting systems in trucks, buses, and MPVs also increase the number of lights used in CVs.

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 CV lighting system market?
• What are the key market trends impacting the growth of the global CV lighting system market?
• What are the challenges to market growth?
• Who are the key vendors in the global CV lighting system market?
• What are the market opportunities and threats faced by the vendors in the global CV lighting system market?
• What are the 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 CV lighting system market?

Technavio also offers customization on reports based on specific client requirement.

The lighting and signaling devices mounted or attached to the front, rear, sides, and in some cases the top of a motor vehicle is known as the vehicle lighting system. This upcoming market research report on the global commercial vehicle lighting system market is an essential part of Technavio's automotive portfolio and offers key insights into the market space for automotive electronics. Technavio's insightful market research reports also offer insights on the market size, forecast, trends, and industry analysis to help clients build operative growth strategies.

By implementing a widespread research approach of quantitative and qualitative data collection methods and assessing the changing demand-supply landscape of the automotive electronics sector, the upcoming market research report on the global commercial vehicle lighting system market offers insights into the key market drivers, trends, and eminent challenges that will influence the growth of the key suppliers in this market space. This forthcoming market research report on the global commercial vehicle lighting system market also covers vendors like Koninklijke Philips N.V., Valeo S.A., Stanley Electrics Co. Ltd., Koito Manufacturing Co. ltd., Philips N.V., Magneti Marelli, Hyundai Mobis, Hella KGaA Hueck & Co., General Electric, and Osram Licht AG.

This market research report on the global commercial vehicle lighting system market also takes into account the growth of related markets like automotive center airbag system, which is anticipated to post an impressive CAGR of more than 8% during the forecast period. According to our analysts, the growing emphasis on vehicle safety and government regulations regarding automotive lighting systems may influence the demand for commercial vehicle lighting system in the coming years. The upcoming industry report on the global commercial vehicle lighting system market also offers insights into fast-growing segments within the automotive industry, including sectors like wheels and tires and auto accessories. Additionally, the report also presents insights into the changing competitive landscape and gives clients a realistic picture of the future direction of the industry.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.