LED Light Bar Market

LED Light Bar Market: Rising Adoption in the Automotive Industry Fuelling Growth: Global Industry Analysis 2013 - 2018 & Opportunity Assessment 2019 - 2027

2019-01-28
REP-GB-8666
170 pages

An Incisive, In-depth Analysis on the Led Light Bar Market

This study offers a comprehensive, 360 degree analysis on the Led Light Bar market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Led Light Bar market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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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.

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.

LED Light Bar Market: Report Description

The LED light bar market report provides the forecast and analysis of the global LED light bar market. It provides analysis on the basis of the historical data and the forecast from 2019 to 2027 in terms of revenue (US$ Mn). The LED light bar market report also reveals the market dynamics in seven geographic segments along with market analysis for the current and future scenario. In addition, it includes the drivers, restraints and recent trends of the LED light bar market. The report also comprises opportunities for the manufacturers of LED light bars and highlights the value chain analysis in detail. The study demonstrates the market dynamics and trends across regions that are expected to influence the current status and future prospects of the LED light bar market.

The LED light bar market report studies the global LED light bar market for the period 2019–2027. The prime objective of this report is to offer quantitative and qualitative insights and study the key market trends pertaining to the global LED light bar market that gradually help transform businesses.

The LED light bar market numbers have been assessed by carefully scrutinising the LED light bar spending of countries in all the seven key regions for the current year, as well as the historical performance of the market. Market size and forecast for each segment of the LED light bar market has been provided in the context of regional markets. All the segmentation for LED light bar market has been considered after appropriate secondary research and revalidation of the data obtained through interviews with key thought leaders and industry experts. The LED light bar market has been forecast based on constant currency rates. The LED light bar market report includes the revenue generated from sales of LED light bars across all regional economies.

The LED light bar market report begins with an executive summary that is intended to provide a clear perspective about the LED light bar market to the reader. It is then followed by an overview of the LED light bar market and provides the definition of the LED light bars and an analysis of the drivers, restraints, opportunities and key trends in the LED light bar market. The sections that follow includes an analysis of the global LED light bar market by configuration type, beam pattern, application, power rating and a country-level analysis.

On the basis of configuration, the global LED light bar market is segmented into single row, double row, triple row and quad row. The global LED light bar market is further segmented on the basis of beam pattern. The beam pattern segment includes flood, spot and combo lights. The global LED light bar market is also segmented by application, which includes events & shows, automotive, restaurants & bars and charter & boats. The global LED light bar market is further segmented on the basis of power rating. The power rating segment includes below 100W, 101-200W, 201-300W and above 300W.

All the above sections evaluate the LED light bar market on the basis of various factors affecting the market, which cover the present scenario and future prospects. For market data analysis, the report considers 2018 as the base year, with market numbers estimated for 2019 and forecast made for 2019–2027. All the segmentation of the LED light bar market has been considered after appropriate secondary research and revalidation of the data obtained through interviews with key thought leaders in the industry. The market has been forecast based on constant currency rates.

The next section of the report highlights the LED light bar market by region and provides the market outlook for 2019–2027. The study investigates the regional year-on-year (Y-o-Y) growth of the LED light bar market. Key regions assessed in this report include North America, Latin America, Europe, Asia Pacific Excluding Japan, Middle East & Africa and Japan. The LED light bar market report evaluates the present scenario and growth prospects of the regional market for 2019–2027.

The LED light bar market numbers have been assessed based on the sales and weighted average pricing by material and product type. The aggregate revenue is derived through the weighted average country pricing trends. The country-level size of the LED light bar market and forecast for each segment have been provided. The LED light bar market has been analysed based on the expected demand and current spending scenario. The prices considered for the calculation of revenue are the average country prices obtained through primary quotes from numerous regional manufacturers, suppliers and distributors of LED light bars. All key the product types of the LED light bar market have been considered on the basis of secondary sources and feedback from primary respondents. The country-wise demand patterns have been considered while estimating the consumption of LED light bars across various regions. The LED light bar market numbers for all the regions by product type, material, price and distribution channel have been derived using the bottom-up approach, which is cumulative of the demand from each country. The company-level LED light bar market share has been derived on the basis of the revenues reported by key manufacturers. The LED light bar market has been forecast based on constant currency rates. Given the characteristics of the market, we have triangulated the outcome on the basis of three different types of analysis: based on supply side, demand side analysis for LED light bars and the impact of macro-economic factors on the LED light bar market. In addition, it is imperative to note that in a fluctuating global economy, we not only conduct market forecasts in terms of Compound Annual Growth Rate (CAGR), but also analyse the market based on the key parameters, such as Y-o-Y growth rates, to understand the predictability of the LED light bar market and identify the right opportunities for players.

The market segments of the global LED light bar market have been analysed in terms of Basis Point Share (BPS) to understand the relative contributions of each segment to market growth. This detailed level of information is important for identifying the various key trends in the LED light bar market. Another key feature of this report is the analysis of the market in terms of absolute dollar opportunity represented by the sales of LED light bars. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve as well as to identify the lucrative segments. The overall absolute dollar opportunity represented by the LED light bar market is mentioned in the report. To understand the key growth segments in terms of growth and adoption for LED light bars in global market, FMI developed the market ‘Attractiveness Index.’ The resulting index is expected to help providers identify the real market opportunities. A number of primary and secondary sources were referred during the course of the study. Some of the secondary sources include IMF, World Bank, Hoovers, Factiva, annual reports of companies and government associations & publications.

In the final section of the report on LED light bar market, a ‘dashboard view’ of the companies is provided to compare the current industrial scenario and their contribution in the total LED Light Bar market. Moreover, it is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a segment in the LED Light Bar market. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors in the LED Light Bar market. Detailed profiles of companies are also included in the report to evaluate their strategies, key product offerings and recent developments. The key players of the global LED Light Bar market include Auxbeam Lighting Co., Hubbell Lighting, Inc., HEISE LED lighting systems, Linmore LED Labs, Tough Industries Limited, Innotec, Corp., HIGHLITE INTERNATIONAL BV, Larson Electronics LLC, Showtech Electronics LLC, NTE Electronics, Inc., Gold Crest, LLC (Lux LED), KC HiLiTES Inc., Baja Designs, Inc., Trailequip Ltd., Rigid Industries, Inc., Herbert Waldmann GmbH & Co. KG, Osram GmbH, Cree, Inc., Globe Electric Company, Inc., and Eaton Corporation (Halo commercial).