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Global Commercial Vehicle Lighting System Market Will Hit At CAGR Of 6.04% During Years 2017-2021
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Lighting in automobiles is considered a crucial system as it provides safety and convenience while driving. In modern vehicles, it is also an important styling feature. The automotive lighting system includes lighting and signaling lights located on the front, sides, and rear of a vehicle. CVs, including light CVs (LCVs) and medium- and heavy-duty CVs (M&HCVs), use a wide range of lights for various functions. Headlamps that have low beam and high beam functions are mainly available in halogen and LED lights. The other widely used lights are reflectors, tail lamps, brake lights, side and turn indication lights, safety brake light or center mounted stop lamp, cornering lights, front side lights or parking lights, daytime running lamps (DRL), fog lights, reverse signal light, license plate light, clearance lights, and side marker lights. Currently, all these lighting units use LED lights that are smaller, consume less energy, and are versatile.
Technavios analysts forecast the global commercial vehicle (CV) lighting system market to grow at a CAGR of 6.04% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global commercial vehicle (CV) lighting system market for 2017-2021. To calculate the market size, the report considers the revenue based on the CV exterior lighting systems and exclude calculation based on interior lightings.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Commercial Vehicle (CV) Lighting System Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Key vendors
Federal-Mogul
HELLA
Magneti Marelli
OSRAM
Valeo
Other prominent vendors
NEOLITE
SL Corporation
STANLEY ELECTRIC Co.
Varroc Group
Market driver
Rise of emerging markets to drive growth in adoption of CV lighting systems in these markets
For a full, detailed list, view our report
Market challenge
High cost of raw materials
For a full, detailed list, view our report
Market trend
Adaptive front lighting systems
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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