Automotive light bars are cost-effective vehicle lights that are substantially fitted in commercial vehicles.
Automotive light bars, as considered under the scope of the research, have been mainly categorized on the basis of vehicle type, technology, installation, sales channel, and region/country.
Future Market Insights’ market study titled, ‘Automotive Light Bars Market: Global Industry Analysis 2014–2018 and Opportunity Assessment 2019–2029′, analyses the global automotive light bars market, and offers an in-depth analysis of the concerned market for the upcoming ten years. Also, the research assesses the prominent forecast factors in the market that are anticipated to augment the growth of the automotive light bars market at global as well as regional levels. Further, the global automotive light bars market report discusses the industry dynamics that are affecting the global automotive light bars market across its value chain and supply chain.
In 2014, the global automotive light bars market was pegged at US$ 664.3 Mn. It is expected to be valued at over US$ 800 Mn at the end of 2019. The automotive light bars market is expected to grow at a CAGR of more than 5% during the projected period of 2019-2029, and reach a value of nearly US$ 1,400 Mn by 2029 end.
Automotive Light Bars Market: Segmental Analysis
By vehicle type, the light commercial vehicles (LCVs) segment is expected to account for over half of the global automotive light bars market, as commercial vehicles run more miles and late nights, thus, visibility and cost-efficiency are important factors. Also, the inclination of long distance commuters towards commercial vehicles is anticipated to strengthen the unit sales of automotive light bars during the forecast period.
Based on technology, the automotive light bars market has been divided into halogen, HID xenon, and LED type automotive light bars. By the end of the forecasted period, cumulatively, the HID xenon and LED type automotive light bars segments are predicted to hold over one-fourth of the global automotive light bars market share. LED automotive light bars offer powerful illumination that is optimum for off-road applications.
On the basis of installation, the automotive light bars market has been segmented into front, side, rear, and interior. Since automotive light bars are mostly used as headlamps or fog lights, the front installation segment is stipulated be the controlling segment in the global automotive light bars market.
Among all regions, East Asia is expected to account for over one-fourth market share in the global automotive light bars market, owing to the growing vehicle commercial fleet because of increasing export and import activities. In terms of market value share, Europe is expected to be next in the run in the automotive light bars market. By country, China and India are expected to be the emerging countries in the automotive light bars market as a result of enhanced economic conditions, increasing passenger and driver safety regulations, and expanding vehicle fleet. The automotive industry is highly competitive, owing to the presence of several established players, which makes the automotive light bars market fairly consolidated. Due to the presence of a number of local and regional automotive light bar manufacturers, the automotive industry is exceedingly competitive. The global automotive light bars market is estimated to be considerably fragmented. Some of the key players active in the global automotive light bars market are HELLA GmbH & Co. KGaA, OSRAM Licht AG, FEDERAL SIGNAL CORPORATION, Truck-Lite Co., LLC, Grote Industries, Inc., Whelen Engineering Company Inc., ECCO SAFETY GROUP, PIAA Corporation, Putco Inc., KC HiLiTES Inc., Whacker Technologies, and Haztec International Ltd, among others.
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