About ATV Lighting System
An all-terrain vehicle (ATV), also known as a quadricycle or a quad bike, is designed to travel through diverse types of terrains compared to other on-road automobiles. The vehicle has four wheels with low-pressure tires, and the handlebar is used to control the speed and steering. Depending on the size, there can be up to 4 seat occupancies in the vehicle. These vehicles are made of plastic or fiberglass, fitted with hard tires to drive through any type of off-road terrains.
Technavio’s analysts forecast the global ATV lighting system market to grow at a CAGR of 2.88% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global ATV lighting system market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global ATV Lighting System Market 2017-2021
Technavio recognizes the following companies as the key players in the Global ATV lighting system market: HELLA, Lazer Star Lights, PIAA Corporation, Polaris Industries, and Vision X USA.
Other Prominent Vendors in the market are: Baja Designs, LabTek Off-Road, Magneti Marelli, Nextech Industries, Oracle Lighting, OSRAM, Plasmaglow, Warn Industries, and Xprite.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is advancements in LED technology. Earlier, LEDs were brighter, smaller, and were a better source of luminance; however, with the technological advancements, the source size can be reduced, and the luminance can be improved, thus offering features like advance dynamic beam system. The advance dynamic beam system allows the light beam to be switched between low and high beam.”
According to the report, one driver in the market is lighting systems in ATV as safety measures. Fatality rates in ATV accidents are increasing in recent times. Lack of proper safety standards governing the usage of ATVs, irregular usage of safety equipment and intense nature of vehicle usage is causing majority of the fatalities associated with ATVs. The potential of getting hurt is maximized while riding an ATV. Moreover, the lack of specific safety mandates governing the use of ATVs further increases the chances of accidents. Both the three- and four-wheeled models of ATVs are large, and have narrow a wheelbase with soft tires and high center of gravity, thus making them hazardous for anyone who rides them.
Further, the report states that one challenge in the market is high price of LED lights. With the rising prices of the raw materials for LED chips, the prices of LED lighting systems are also increasing. There was a hike in the price of aluminum, copper, gold wire, and printed circuit board (PCB) substrate in 2016. The increase in raw material pricing was influenced by the US presidential election, where the raw material market faced a major infrastructure change. Addition to this was the depreciation of China's currency, which indirectly pushed up the material cost of LED chips. San’an Optoelectronics, China's major LED supplier, announced an 8% hike in the price of its products, which was effective since January 2017.
HELLA, Lazer Star Lights, PIAA Corporation, Polaris Industries, and Vision X USA, Baja Designs, LabTek Off-Road, Magneti Marelli, Nextech Industries, Oracle Lighting, OSRAM, Plasmaglow, Warn Industries, and Xprite.
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