Automotive Light Bars Market - Key Research Findings
- Global automotive light bars (estimated) market size in 2019 - nearly US$ 830 Mn.
- The automotive light bars market is anticipated to grow at a CAGR of over 5% over 2019-2029 being a critical part of automotive lighting system.
- East Asia and South Asia are expected to remain the leading regional markets for automotive light bars products.
- Emerging market players are focusing on expanding their product portfolio by launching new products in the automotive light bars market
- In 2014, HELLA GmbH & Co. KGaA added new products such as high-powered LED front flashing lights in its automotive lighting business for municipal vehicles and emergency vehicles.
- The LED type segment is projected to have a substantial share in the automotive light bars market, in terms of technology type, over the forecast period
Top Factors Shaping the Global Automotive Light Bars Market
Moving towards LED Automotive Light Bars
Manufacturers have recently introduced a new series of automotive light bars. Modular automobile light bars allow customers to build a customized lighting solution. Also, automotive light bar manufacturers utilize long-life light-emitting diodes (LEDs) to achieve bright beam patterns, compact lamp housing size, and minimum energy use. The improved efficiency of LEDs in light bars allows higher electrical power to go directly to generate lighting, reducing the draw on the vehicle charging system, and reducing electricity demand.
Growth in Trade Economies
Light and heavy commercial vehicles find a wide array of applications across all the end-use industries, such as logistics, construction, and E-commerce industries, and the growth of these industries is one of the prime drivers for the sales of commercial vehicles, in turn, fueling the demand for automotive light bars.
Automotive Light Bars Market: Structure Analysis
- The global automotive light bars market represents a significantly unorganized yet fragmented market; wherein, tier-1 companies hold one-fourth of the global automotive light bars market. Most of the players in the automotive light bars market are strategically focusing on the South Asia and East Asia regions.
- Market participants are diversifying and strengthening their production and distribution bases around the globe in order to gain traction in the global automotive light bars market.
- While key companies are looking forward to expand their footprint by acquiring small domestic players in regional markets, smaller players are focusing on new and low-cost products to stay competitive in domestic markets.
- In 2014, HELLA GmbH & Co. KGaA opened its fifth production plant in Mexico for its automotive lighting business division. This plant manufactures headlamps and tail lamps for North & South America’s automobile OEMs.
- In 2016, HELLA GmbH & Co. KGaA opened a new development center for automotive lighting technology in Stuttgart, southern Germany. This expansion has developed new and innovative products that help the company increase its market share in the automotive market.
- In July 2017, OSRAM Licht AG acquired LED Engin Inc., a U.S.-based company that provides lighting solutions to different sectors.
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Automotive Light Bars – Guiding the Way
The three prominent sectors in the lighting industry are automotive lighting, general lighting, and backlighting. The automotive industry is moving more rapidly than ever towards enhanced systems regarding driver safety. To have a clear forward vision, better lighting in the vehicle is expected to play a significant role in the growth of the automotive lighting market, thus, eventually, driving the demand for automotive light bars.
Market Set to Grow Over 1.7X between 2019 and 2029
Automotive light bars are projected to witness healthy demand over the stipulated period. The growth of the global market of automotive light bars is linked to the eventual growth in the automotive industry during the forecast period. Also, the growing vehicle fleet with the growing population, and environmental concerns, are boosting the technological advances in the global automotive light bars market.
How Opportunities in Emerging Countries are Driving Growth
Developing countries such as China and India are expected drive the growth of the automotive light bars market, due to the expanding automotive industry and enhanced economic situation. Hence, developing regions such as East Asia and South Asia are expected to outpace other regions in terms of growth, owing to the high penetration and adoption of automotive light bars during the latter half of the forecasted period.
The Broader Perspective of the Automotive Light Bars Market
Global leaders in the automotive light bars market have been emphasizing on research and development activities, that too in developing regions such as China and India, to shift towards a longer lifetime source, thereby decreasing the need for the replacement of automotive light bars. Also, automotive light bar OEMs are especially embracing LED technology in the automotive light bars market.
What Direction is the Automotive Light Bars Market Expected to Take?
A noteworthy difference between LED automotive light bars and other technologies is anticipated to bring a fundamental disruption in the automotive light bars market along the whole value chain. LED automotive light bars are becoming prominent in heavy vehicles. One of the main reasons for the rapid growth is that, LED light bars are actually a cost-effective solution. Indeed, LEDs cost around half that of HID xenon light bars, and still have the powerful lighting system needed for a typical vehicle.
AUTOMOTIVE LIGHT BARS MARKET TAXONOMY
The global automotive light bars market is segmented in detail to cover every aspect of the market, and present a complete market intelligence approach in front of the reader.
By Vehicle Type
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa