LED light for off-road vehicle is a prominent auto component, which helps in interior as well exterior lighting of the off-road vehicle. The off-road vehicle light system comprises fog lights, high beam projected lights, interior decorating lights, front headlights, indicator lights, and rear lights. Rise in demand for off-road vehicles is expected to boost the demand for LED lights for off-road vehicles. LED light offer various advantages over other lights such as long life and less CO2 emission. Traditionally, automotive LED lights were utilized as back lights; however, currently, they are utilized as headlights and preferred over Xenon and halogen lights due to their better lighting system and power efficiency.

Growth of the automobile industry across the globe has propel he demand for automotive LED lighting systems. The LED light market for off-road vehicle is driven by rise in sales of off-road vehicles. High demand for cost-effective vehicles with better lighting system and low power consumption are key factors propelling the LED light market for off-road vehicle. Furthermore, rigid government regulations and prohibition on utilization of xenon and halogen lights are likely to boost the LED light market for off-road vehicle. 

The global LED light market for off-road vehicle can be segmented based on adaptive type, application, sales channel, and region. Based on adaptive type, the LED light market for off-road vehicle can be divided into front adaptive lighting and two more segments. Rise in demand for off-road vehicles and rising preference toward driving off-road vehicles at night among consumers are expected to boost the adaptive front light segment during the forecast period. In terms of application, the LED light market for off-road vehicle can be divided into exterior and interior. Rise in demand for night driving of off-road vehicle is estimated to boost the external lighting segment. In terms of sales channel, the LED light market for off-road vehicle can be segregated into OEM and aftermarket. In terms of revenue, the aftermarket segment is estimated to dominate the global LED light market for off-road vehicle, with sales expected to increase rapidly during the forecasting period. Life span of LED lights being limited to few thousand hours, due to that the aftermarket segment is anticipate to increase in the near future. The OEM segment of the LED light market for off-road vehicle is anticipated to expand at a relatively lower growth rate during the forecasting period. 

Based on geography, the global LED light market for off-road vehicle can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific hold the maximum market share for the automotive industry, wherein country like China, India, South Korea and Japan are the major contributors in automotive sector, due to the rise in production of vehicles in these region. This is anticipate to increase the demand for  LED light for off-road vehicles, which in turn is projected to drive a large number of local and international component manufacturer and supplier based in the region. North America followed by the Asia Pacific for LED light market for off-road vehicle in terms of value. 

Key players operating in the global LED light market for off-road vehicle are OSRAM Light AG, Robert Bosch GmbH, Valeo SA., Magneti Marelli S.p.A., Flex-N-Gate Corporation, HELLA KGaA Hueck & Co., and Phoenix Lamps Limited.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Led Light Market

Pre Book