Global Commercial Vehicles LED Bar Lights Market 2017-2021
About Commercial Vehicles LED Bar Lights
Automotive LED bar lights are used in the vehicles as a purpose of alerting the other vehicles and pedestrians walking on the roads about their location and position. LED technology is now being used in bar lights as a means to increase the overall safety of the vehicles and other unprotected road users. In commercial vehicles, the adoption of LED light bars makes more sense as the commercial vehicles are usually larger in shape and size, thereby, making them more vulnerable to on-road collisions.
Technavio’s analysts forecast the global commercial vehicles led bar lights market to grow at a CAGR of 31.54% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial vehicles led bar lights 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 Commercial Vehicles LED Bar Lights Market 2017-2021
Technavio recognizes the following companies as the key players in the global commercial vehicles led bar lights market: Federal-Mogul, Hella, Magneti Marelli, OSRAM, and Valeo.
Other Prominent Vendors in the market are: Lazer Lamps, Kuda UK, PIAA Corporation, Westin Automotive, NEOLITE, SL Corporation, Stanley, and Varroc Group.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is computer-designed reflector design and modular housing. The global commercial vehicle lighting market is witnessing the development of new manufacturing processes and technologies, which are making the advanced lighting systems more powerful and sophisticated. The optimum use of computer technology is not only aiding in making the LED lighting more efficient for automotive applications but also improving the safety coefficient associated with its use.”
According to the report, one driver in the market is commercial vehicle rear lighting system improves on-road visibility: Increased safety. The commercial vehicle lighting market is experiencing continuous improvements. The commercial vehicle market is witnessing varying dynamics across the globe. For instance, the saturated demand and strict emission norms are some of the macro and micro factors that are negatively affecting the CV market in triad countries; whereas, emerging markets like China and India have been experiencing growth in the CV market due to increasing investment in infrastructure, economic expansion, and increasing transport volumes.
Further, the report states that one challenge in the market is overheating issues and shorter lifespan: Reliability issues. The automotive LED lighting system comes with numerous functions and features, which make it an optimum fit for automotive applications as compared to halogen headlamps. These LED lights provide better illumination and more illumination area as compared to the conventional lighting systems used in automobiles. Therefore, they result in improved visibility for the driver and the other road users resulting in enhanced safety while driving.
Federal-Mogul, Hella, Magneti Marelli, OSRAM, Valeo, Lazer Lamps, Kuda UK, PIAA Corporation, Westin Automotive, NEOLITE, SL Corporation, Stanley, and Varroc Group.
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