On-Highway Vehicle Lighting Market Report 2023-2032: Market Insights, Industry Size, Scope And Analysis | Koninklijke Philips N.V., Koito Manufacturing Ltd., ZKW Group, TYC Genera Corporation, Valeo S.A

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's On-Highway Vehicle Lighting Global Market Report 2023 identifies Increased road accidents due to low visibility and fog as the major driver for the On-Highway Vehicle Lighting market's growth in the forecast period. Fog is a dense cloud that is present on the ground which reduces the visibility of roads and can cause accidents. Fog lights and normal lighting are useful in increasing visibility in foggy conditions and avoiding accidents due to low visibility. 

The global on-highway vehicle lighting market size is expected to grow from $28.55 billion in 2022 to $30.16 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global on-highway vehicle lighting market size is expected to grow to $36.86 billion in 2027 at a CAGR of 5.1%.

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Major competitors in the On-Highway Vehicle Lighting market are Koninklijke Philips N.V., Koito Manufacturing Ltd., ZKW Group, TYC Genera Corporation, Valeo S.A.

A key trend in the On-Highway Vehicle Lighting market includes Product innovation. Major companies operating in the on-highway vehicle lighting market are introducing innovative products to strengthen their position in the market. For instance, in January 2023, Nichia Corporation, a Japan-based chemical and manufacturing company, and Infineon Technologies AG, a Germany-based semiconductor manufacturing company together launched micro PLS micro-Pixelated LED Light, a high-definition fully integrated micro-LED light engine for HD adaptive driving beam applications, based on matrix LED technology. It combines high-definition resolution with the industry's highest light output and also provides a four times wider field-of-view with higher light output than any other current micro-mirror-based HD matrix-light solution.

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The On-Highway Vehicle Lighting market is segmented -

1. By Product: Halogen, HID, LED, Incandescent, LASER
2. By Application: Headlight, Exterior Lights, Internal Lights
3. By Vehicle Type: Motorcycle, Passenger Cars, Buses, Light Trucks (Class 1-3), Medium Trucks (Class 4-6), Heavy Trucks (Class 7 & 8)
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the On-Highway Vehicle Lighting market.

The Business Research Company's "Global On-Highway Vehicle Lighting Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The On-Highway Vehicle Lighting Market Include:

1. Executive Summary
2. On-Highway Vehicle Lighting Market Characteristics
3. On-Highway Vehicle Lighting Market Trends And Strategies
4. On-Highway Vehicle Lighting Market - Macro Economic Scenario
5. On-Highway Vehicle Lighting Market Size And Growth
……
26. Africa On-Highway Vehicle Lighting Market
27. On-Highway Vehicle Lighting Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The On-Highway Vehicle Lighting Market
29. On-Highway Vehicle Lighting Market Future Outlook and Potential Analysis
30. Appendix

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