The global Automotive Light Bars Market research report 2029, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.
This Automotive Light Bars market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.
Data Bridge Market Research analyses that the automotive light bars market was valued at USD 9,00.09 million in 2021 and is expected to reach USD 1,413.09 million by 2029, registering a CAGR of 5.80% during the forecast period of 2022 to 2029.
Top Companies in the Global Automotive Light Bars Market:
Cree LED (U.S.), NICHIA CORPORATION (Japan), OSRAM GmbH (Germany), Samsung (South Korea), EVERLIGHT ELECTRONICS CO., LTD. (Taiwan), Lumileds Holding B.V. (Netherlands), EPISTAR Corporation (Taiwan), L.G. Innotek (South Korea), Broadcom (U.S.), MLS (China), Seoul Semiconductor Co., Ltd. (South Korea), Luckylight Electronics Co., Ltd (China), Plessey (U.K.), Betlux Electronics Co., Ltd. (China), Effilux (France), LITE-ON Technology Corporation (Taiwan), Vollong Electronics Co.,Limited (China), STANLEY ELECTRIC CO., LTD. (Switzerland), among others.
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Market Segmentation:
The automotive light bars market is segmented on the basis of technology, vehicle type, installation, product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
- Halogen
- LED
Vehicle Type
- Passenger
- Commercial
Installation
- Front
- Side
- Rear
- Interior
Product Type
- LED Light Bars
- OLED Light Bars
Application
- OEM
- Aftermarket
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
– North America (United States, Mexico & Canada)
– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Asia-Pacific dominates the automotive light bars market in terms of market share and revenue in the forecast period. This is due to the rapid consumer adoption, high sales of automobiles, increased sales and production of vehicles domestically in this region.
North America is likely to be the fastest developing region due to the presence of large manufacturers of LED light bars and development of new technology in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Market Dynamics
Drivers
- Increase in the sales of electric vehicle globally
The rising popularity and the use of electric vehicles have emphasized the requirement for automotive light bars. For instance, companies are spending heavily on manufacturing electric vehicles and focusing on research and development for faster and more efficient facilities. The high demand for electric vehicles is expected to drive the growth of the automotive light bar market.
- High demand of LED light bars
The demand for LED light bar increases because it produces more light per watt than most lights, and it takes less time than a microsecond to reach full brightness. The efficiency and intensity of a LED light bar is not affected by the parameter of light, unlike fluorescent light bars. Thus, LED light bars are majorly used in automotive sector for vehicles.
Furthermore, environmental concerns, hiking penetration and adoption of light bars in emerging economies, rising vehicle fleet with the growing population and advancement in the technologies are some major factors for the growth of the market..
Opportunities
- Low cost and easy availability
Easy availability and low cost of automotive light bars are expected to become more popular in the upcoming period, which will benefit its suppliers and increase the market's growth rate. Also, the growth of the automotive sector as a whole will help the market for automotive light bars in significance the total sales will be profited from growth in the sales of vehicles.
Moreover, new emerging markets and upsurge in the number of strategic collaboration and partnerships will also act as market drivers and increase the beneficial opportunities for the market’s growth rate.
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