From an estimated market size of US$ 861.8 Mn in 2019, the value sales of LED light bars are expected to reach US$ 1,248.2 Mn by 2027, expanding at a CAGR of 4.7%
Over the past few years, the consumer buying behaviour has changed dramatically. Consumers are inclined more towards products that not only cause less harm to the environment, but also are more efficient as compared to conventional products. This behaviour has largely driven the LED light bars market owing to their environment-friendly nature and high efficiency. Since their introduction, LED light bars have become a vital part of the lighting industry and have witnessed unusual growth patterns.
Superior features such as energy efficiency and high durability are boosting the demand for LED light bars
By configuration, the global LED light bar market is segmented as single row, dual row, triple row and quad row. Among all these configuration types, the single row LED light bar segment is expected to account for a comparatively higher value share in the global LED light bar market.
This segment of the LED light bar market is expected to remain prominent during the forecast period. In the global LED light bar market, the single row LED bar segment is expected to account for a 48.9% value share in 2019, and is expected to grow at a CAGR of 4.3% during the forecast period.
Beam pattern is a major segment in the global LED light bar market. The beam pattern segment of the LED light bar market is segmented into flood type, spot type and a combo of both the beam patterns. The combo segment dominates the global LED light bar market due to its ability to perform the functions of both the beam patterns.
The global LED light bar market is also segmented on the basis of power rating. The segments in the power rating type segmentation are below 100W, 101-200W, 201-300W and above 300W. The LED light bars with the power rating of below 100W holds the highest share of the LED light bar market. The power rating segment below 100W of the LED light bar market holds 37.6% of the total market share owing to its usage in a wide range of applications.
The global LED light bar market is further segmented on the basis of application. The application segment includes events & shows, automotive lighting, restaurants & bars and charter & boats. In the global LED light bar market, among all these applications segments, the events & shows segment is estimated to account for a prominent share in terms of value. The event & shows segment of the LED light bar market is expected to account for a 42.1% value share in 2019, and is expected to grow at a CAGR of 4.1% during the forecast period.
Supportive government regulations are boosting the demand for LED light bars
Favourable government regulations regarding the construction of creative infrastructure, structures and installations in various countries is resulting in the increasing deployment of efficient lighting systems, such as LED light bars, by construction companies.
Government organisations across the world are emphasising on the implementation of specific standards for lighting products and restricting the adoption of incandescent lighting products to improve energy efficiency and reduce CO2 emission, which is driving the LED light bar market.
These government regulations are encouraging construction companies to deploy LED light bars that comply with standards pertaining to low carbon emissions and energy saving, among others. This is, in turn, driving the global LED light bar market to a significant extent, and the trend is expected to continue over the forecast period.
- In December 2015, The Paris Agreement was signed in which over 190 countries signed the treaty, that states that by 2020 they are further committed to cut the emissions of 20% in order to fight global warming
- In October 2012 for instance, the government of China banned use of incandescent bulbs all over the country with power rating 60W and 100W
- Europe has also banned use of all types of traditional incandescent lighting systems in countries in the region
LED light bar consumers are very particular about the efficiency and the feel of the product that they are purchasing. The availability of their favourite brands of LED light bars in their vicinity is speeding up the purchase process. The increasing number of specialty stores as well as brand tie-ups with various retail chains has supported the demand for LED light bars as they have brought consumers nearer to their favourite brands.
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Multinational players are relatively highly concentrated in the global LED light bar market as compared to local & regional manufacturers of LED light bars
The global LED light bar market has a large number of regional and multinational companies, whose detailed profiles are also included in global LED light bar market report to assess their key product offerings, strategies and recent developments.
Some of the key players included in the global LED light bar market study include Eaton Corporation (Halo commercial), Globe Electric Company, Inc., Cree, Inc., Osram GmbH, Herbert Waldmann GmbH & Co. KG, Rigid Industries, Inc., Trailequip Ltd., Baja Designs, Inc., KC HiLiTES Inc., Gold Crest, LLC (Lux LED), NTE Electronics, Inc., Showtech Electronics LLC, Larson Electronics LLC, HIGHLITE INTERNATIONAL BV, Tough Industries Limited, Innotec, Corp., Linmore LED Labs, HEISE LED lighting systems, Hubbell Lighting, Inc. and Auxbeam Lighting Co.
On the basis of configuration
- single row
- double row
- triple row
- quad row
On the basis of beam pattern
- combo lights
On the basis of application
- events & shows
- restaurants & bars
- charter & boats
On the basis of power rating
- below 100W
- above 300W