The global automotive light bars market in 2022 was US$ 33.8 billion and is estimated to be US$ 37.1 billion in 2023. Future Market Insights has mentioned in its reports that the Automotive Light Bars Market will expand at a CAGR of 6.4% between 2023 and 2033, totaling around US$ 69 billion by 2033.
Light commercial vehicles (LCVs) are anticipated to account for over half of the global automotive light bars market, as commercial vehicles run considerably, and run many miles late at night, thus, their visibility and cost-efficiency are important factors. Moreover, the preference of long-distance travelers toward commercial vehicles is considered to strengthen the unit sales of automotive light bars during the forecast period.
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Key Takeaways from the Market Study
- Global automotive light bars market expanded at a CAGR of 5.2% between 2018 and 2022.
- The automotive light bars market is expected to register a 5.3% CAGR between 2022 and 2029.
- China’s automotive light bars market is estimated to account for around 29.6% of the total market share.
- India is said to expand at a CAGR of 4.98%.
- Japan holds a value share of 5.77%.
- Australia captures a market share of 4.6%.
- Germany secures a market share of 29.6%.
- Europe’s automotive light bars market is projected to hold around 19.2% of the share.
- The United Kingdom holds a market share of 16.77%.
- The United States holds a market share of 22.6%.
- North America’s automotive light bars market is anticipated to account for about 38.1% of the share.
- E-commerce sector is adopting heavy commercial vehicles with color-changing light bars.
- Heavy commercial vehicles are expected to drive growth in this segment with a market share of 44.8%.
- Surging adoption of LED light bars in emergency vehicles to boost growth.
- LED segment holds a market share of 41.3%.
- Expansion of the automotive aftermarket to propel sales of car light bars.
- Aftermarket segment is estimated to remain at the forefront in the automotive light bars market over the forecast period with a market share of 53.1%.
- Launch of innovative interior lighting systems to bolster the adoption of auto LED light bars.
- Interior segment is projected to lead the automotive light bars market over the forecast period with a value share of 33%.
“Rise in sales of premium cars acts as one of the primary development in the automotive light bars market”, comments a Future Market Insights Analyst.
Competitive Scenario:
Some of the prominent players profiled in the global market are-
- HELLA GmbH & Co. KGaA
- OSRAM Licht AG
- Federal Signal Corporation
- Truck-Lite Co., LLC
- Grote Industries, Inc.
- Whelen Engineering Company Inc.
- Ecco Safety Group
- Lumex Industries
- PIAA Corporation
- Putco Inc.
- KC HiLiTES Inc.
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Key Innovations in the Market
- In April 2023, viewing the high-quality selection of aftermarket Trim Products for the 2023 Ford Maverick, Putco has been manufacturing and designing automotive and truck accessories in Des Moines, IA for over 50 years.
- In January 2023, automotive supplier HELLA operates under the FORVIA umbrella brand, which is growing significantly strong than global vehicle production. Accordingly, HELLA generated sales of €2.0 billion. Compared to the first quarter of the calendar year 2022, this means growth of 14.4 percent (Q1 CY 2022: €1.7 billion1). Global vehicle production increased by 5.7 percent in the same period.
Automotive Light Bars Market Segmentation
By Type:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Technology:
- Halogen
- HID
- LED
By Sales Channel:
- OEMs
- Aftermarket
By Installation:
- Front
- Side
- Rear
- Interior
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East & Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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