Global Bus Lighting Market 2024-2030

    In Stock

    GLOBAL BUS LIGHTING MARKET

     

    KEY FINDINGS

    • The Global Bus Lighting Market is anticipated to rise at a considerable rate during the forecast period 2021-2027.
    • Strict lighting regulations in developed nations of Europe and North America have driven the automotive lighting market.
    • According to the National Highway Traffic Safety Administration (NHTSA) of the US Department of Transportation, DRL has reduced fatal road accidents by approximately 13.8%. Regulatory legislation like this is expected to influence the automotive lighting industry.
    • There has been a high demand for advanced lighting due to the increase in premium car sales. Increasing adoption of the advanced lighting in the lower and mid-segment cars is expected to open new opportunities for the growth of the market in this region during the forecast period.
    • In matrix LED headlights, the high-beam unit is made up of 25 individual segments.

     

     

    INTRODUCTION

    The Global Bus Lighting Market is anticipated to rise at a considerable rate during the forecast period 2021-2027. In 2021, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

     

    infographic: Bus Lighting Market, Bus Lighting Market Size, Bus Lighting Market Trends, Bus Lighting Market Forecast, Bus Lighting Market Risks, Bus Lighting Market Report, Bus Lighting Market Share

     

    The consumption value is determined by multiplying the number of units by the average selling price. The average selling prices are based on the price of the LED lamps/ devices at the initial factory level.

     

    The consumption values are based on the end-user application and the end-user region. The product life cycles of high technology electronic products are short, and will continue to shrink.

     

    For success, it is vital to target the right products for development and to introduce them to the market at the right time. Decisions on major R&D and facility investments must be made before competitors’ products seize the market-and these decisions must be made quickly.

     

    GLOBAL BUS LIGHTING SEGMENTATION

     

    Bus Lighting Market Applications

    • Front Lighting
    • Rear Lighting
    • Signalling, Interior & Others

     

    Bus Lighting Market Region

    • United States
    • Europe
    • China
    • India
    • Japan
    • ROW

     

    infographic: Bus Lighting Market, Bus Lighting Market Size, Bus Lighting Market Trends, Bus Lighting Market Forecast, Bus Lighting Market Risks, Bus Lighting Market Report, Bus Lighting Market Share

    GLOBAL BUS LIGHTING MARKET DYNAMICS

    • Strict lighting regulations in developed nations of Europe and North America have driven the automotive lighting market. Vehicle lighting plays a crucial role, especially when driving on roads with heavy traffic. Road accidents are a major concern for governments across the world.
    • According to the World Health Organization (WHO), 1.3 million people die each year due to road traffic collisions. Road traffic crashes cost most countries 3% of their gross domestic product. Therefore, it is important to improve the driving conditions, which can be achieved partially by improving the lighting system.
    • In 2011, with an aim to increase road safety, the European Union mandated daytime running lights (DRLs) on all new types of motor vehicles. The function of DRL is not to help the driver to see the road but to help other road-users to see the vehicle.
    • According to the National Highway Traffic Safety Administration (NHTSA) of the US Department of Transportation, DRL has reduced fatal road accidents by approximately 13.8%. Regulatory legislation like this is expected to influence the automotive lighting industry.
    • The high cost of LED lights is a key concern for the automotive lighting market. Halogen and Xenon/HID, which were used earlier, have become less popular with the introduction of new technologies. Halogen lights have the major disadvantage of heating and energy-wasting, whereas Xenon light is more complex and requires some time to achieve full brightness.
    • The LED, on the other hand, is small and allows great manipulation for various shapes and designs. It consumes less energy and emits a brighter light than halogen. However, as LEDs are more expensive than other technologies, the use of LEDs is confined to high-end or premium vehicles.
    • The high cost of LEDs can be attributed to its high production cost. Materials such as Indium gallium nitride, Aluminum gallium indium phosphide, and Aluminum gallium arsenide are the major cost incurred substrates for manufacturers.
    • Nowadays, LEDs are used with a projector as compared with conventional lights that require reflectors. Projector headlights are more expensive than reflector headlights and require more space within the vehicle. While the use of LED in automotive is currently low, it is expected to increase in the coming years, which in turn would help reduce its price.
    • Matrix LED, OLED, and laser lighting are some of the new and promising technologies for automotive lighting manufacturers. In matrix LED headlights, the high-beam unit is made up of 25 individual segments. The small LEDs work in conjunction with lenses, and reflectors connected in series are activated and deactivated or dimmed individually according to the situation. This enables the system to react precisely to other cars. It recognizes other cars using a camera and illuminates the road brightly.
    • The growth of the global bus lighting market is mainly attributed to the increasing demand for lighting for better visibility and safety. Moreover, stringent government regulation, high demand for adaptive lighting, and rising production of new electric cars are amongst the major driving factors for the growth of the automotive lighting market in the near future.
    • Furthermore, rising disposable income paired with continuous new product launches by the market participants is predicted to flourish the growth of the automotive lighting market in the near future.
    • However, the high cost of LED lights is predicted to have an adverse impact on the growth of the global automotive lighting market. Even so, advancement in technologies is estimated to offers new growth opportunities for the market participants in the coming years.
    • Rising production of new electric buses paired with stringent government regulation is the major driving factor for the growth of the automotive lighting market in the analysis period.
    • Moreover, ongoing development in product offerings by key manufacturers coupled with surging demand for better visibility and safety is predicted to support the growth of the global automotive lighting market.
    • Furthermore, the implementation of rules and regulations by different countries, rising disposable income is also a major factor expected to propel the market demand in years to come.
    • On the contrary, the high cost of LED lights is predicted to limit the growth of the global automotive lighting market. Even so, advancement in technologies is estimated to offers new alluring opportunities for the automotive lighting market in the forecast period.

     

    infographic: Bus Lighting Market, Bus Lighting Market Size, Bus Lighting Market Trends, Bus Lighting Market Forecast, Bus Lighting Market Risks, Bus Lighting Market Report, Bus Lighting Market Share

    GLOBAL BUS LIGHTING MARKET SIZE AND FORECAST

    Premium vehicles are typically installed with LED lights due to their numerous benefits such as low power consumption, more adaptive features, and high aesthetic value.

     

    Moreover, LED headlights have less impact on the driver who is on the opposite side in comparison to xenon lights, and hence, this technology is accepted widely in the market. An increasing number of newly manufactured vehicles installed with LED lighting systems is expected to drive the growth of the segment.

     

    The penetration of advanced lighting in the passenger vehicle segment is higher in comparison to other vehicles, including LCVs, buses, and trucks. The rising sales of passenger vehicles, coupled with the willingness of consumers to pay more for cars, are expected to drive the automotive lighting market in this segment. The year-on-year production growth is likely to propel the growth of the segment over the forecast period.

     

    Asia Pacific is anticipated to be the largest market in the global automotive lighting market due to rapid consumer adoption and high sales of automobiles. China and Japan garnered the largest shares within the market due to the high production & sales of vehicles domestically.

     

    Additionally, manufacturers in these countries focus on technological advancements, including lighting, thus, driving the demand for automotive lighting. The rise in the consumer per capita income and high sales of SUVs in emerging economies such as India will drive the market further.

     

    There has been a high demand for advanced lighting due to the increase in premium car sales. Increasing adoption of the advanced lighting in the lower and mid-segment cars is expected to open new opportunities for the growth of the market in this region during the forecast period.

     

    To know more about Global Automotive LED Lighting Market, read our report

     

    RECENT TRENDS IN THE BUS LIGHTING MARKET

    • DynaView® Evo2 combines the cornering light and fog light safety functions in compact round auxiliary lights which can be universally installed in many different vehicles.
    • When the low beam is switched on, the right or left cornering light is activated when the indicator is actuated or automatically when the vehicle drives round a bend at a speed of less than 40 km/h without decelerating.
    • A yaw rate sensor measures the vehicle’s angular acceleration and triggers the turn-on signal when the car drives through a curve. At the end of the curve, a dimmer softly fades the extra light. If the reverse gear is engaged, both cornering lights are switched on and ensure broad and bright illumination of the areas along the left and right of the vehicle.
    • The light colour, which is similar to daylight, offers more safety and comfortable, fatigue-free driving. Three white high-power LEDs provide the light source for each light function.
    • The light is homogeneously projected through the 70 mm DE lens on the street. The design life of the headlamp, normally more than 15,000* real operating hours, allows huge cost savings when it comes to maintenance and repair costs compared to other lighting systems.
    • All light functions of the full LED combination rear lamp (tail lamp, stop light, direction indicator, rear fog lamp and back-up lamp) exclusively feature LED technology.
    • The tail lamp is produced by a ground-breaking patent-registered wide-area LED light guide in combination with the reflex reflector. This light transmitter features especially homogeneous illumination.
    • As a result, the tail light function, with its large surface area of around 145 cm², is exceptionally visible in the dark and thus enhances road safety.
    • In June 2019, Hella offered an integrated solution for complex lighting systems. The company’s two business divisions, Lighting and Electronics, have been working closely to combine their product technologies into a flexible and modular product system.
    • Headlight modules, electric control units, and sensors can be assembled according to the modular principle.
    • In April 2019, Hella signed a strategic cooperation agreement with Wuling Automotive Industry, which belongs to the Chinese Guangxi Automobile Group.
    • Both partners intended to work together on automotive lighting technologies for the Chinese market, with a focus on the development of headlamps for the volume segment.
    • In January 2019, Hella launched Shapeline lamps, work lights, auxiliary lamps, warning lights, and accessories. The company equipped a show truck with lighting solutions that were developed for trucks and trailers.
    • In November 2018, Hella and Faurecia entered into a strategic collaboration to partner on interior lighting solutions for the cockpit.
    • Both companies jointly developed lighting solutions in the domain of surface-lighting and dynamic-lighting for a personalized cockpit environment.
    • Faurecia contributed its expertise as a complete system integrator for vehicle interiors, while Hella supplied innovative products in the field of interior lighting.

     

    infographic: Bus Lighting Market, Bus Lighting Market Size, Bus Lighting Market Trends, Bus Lighting Market Forecast, Bus Lighting Market Risks, Bus Lighting Market Report, Bus Lighting Market Share

    COVID IMPACT ON GLOBAL BUS LIGHTING MARKET

    The COVID-19 outbreak has disrupted the automotive supply chain on a global scale. The outbreak has not only disrupted manufacturing facilities globally but also vehicle sales around the world.

     

    The suspension of manufacturing facilities and new vehicle sales has impacted the production of automotive lighting components. Demand for both conventional and electric vehicles is projected to witness a downward trend in 2020, further impacting the automotive lighting market. Additionally, the budget allocation for R&D is likely to be significantly affected, which is anticipated to hamper the development of innovative automotive lighting solutions. 

     

    The demand for lighting is proportional primarily to vehicle production. Now, with the outbreak of COVID-19, vehicle production, as well as sales, has witnessed a significant decline and is expected to exhibit a 20% decline in 2020 (MarketsandMarkets analysis). This decline is expected to impact the automotive lighting market adversely. However, companies are taking various measures to tackle the adverse effects of the outbreak.

     

    BUS LIGHTING MARKET COMPETITIVE LANDSCAPE

    Players operating in the automotive lighting market are emphasizing on geographical expansion for strengthening their position in the market.

     

    Manufacturers are also investing huge sums into research and development of advanced lighting systems in the new SUVs and the latest automobiles for enhancing the look of the vehicle while providing decent lighting in the interiors of luxury vehicles.

     

    They are also entering into strategic collaborations to collectively contribute to the overall automotive lighting market revenue in the forthcoming years. These collaborations include merger and acquisition, partnerships, contracts and agreements, and others.

     

    Some of the key players operating in the automotive lighting market include Stanley Electric co. ltd., Lumax Industries, Varroc group, Koito Manufacturing co. ltdNorth American Lighting (a subsidiary of Koito), Continental AG, OSRAM GmbH, Hella GmbH among others.

     

    The players are focusing on joint ventures and are expanding their business globally. For Instance, Valeo has recently acquired 10.5% of the stake in a technology-based startup called Aledia, which is focused on the development of LED technology for automotive lighting. Also, a company named ZKW has started the production of the first laser-beam headlamps, for the BMW i8.

     

    THIS BUS LIGHTING MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. Bus Lighting Market size and Forecast, by region, by application
    2. Average B-2-B price for Bus Lighting Market, by region, per user
    3. Technology trends and related opportunity for new Bus Lighting Market tech suppliers
    4. Bus Lighting Market share of leading vendors, by region,
    5. Corona virus impact on Bus Lighting Market earnings
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2024-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2024-2030
    21 Product installation rate by OEM, 2024
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
    0
      0
      Your Cart
      Your cart is emptyReturn to Shop