Global Automotive Light Bars Market – Industry Trends and Forecast to 2029

Automotive Light Bars Market Analysis and Size

Sales in the market are predicted to increase as a result of manufacturers introducing new lines of vehicle light bars. The automotive aftermarket is expanding globally, thanks to developing new businesses and increased competition among established ones. Advanced automobile systems in the areas of safety, powertrain, and comfort have already been influenced by players in the locomotive aftermarket of developed countries. This reason contributes to the market for LED light bars expanding.

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. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.     

Automotive Light Bars Market Scope and Segmentation

Market Definition

Automotive light bars can illuminate an area so much more efficiently than any other form of auto lighting because of the brightness and spread of the bulbs. Light bar generates more light per watt than other lights. The efficiency and intensity of a light bar is not affected by the size and shape of the light bars. Thus, light bars are majorly used in vehicles.

Automotive Light Bars 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.

Restraints/ Challenges

The unpredictable life of the light bars and high initial cost for installing these   LED light bar in vehicles are some major factors among others which is acting as market restraints, and will further challenge the growth of the automotive light bars market during the forecast period mentioned above

This automotive light bars market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive light bars market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Automotive Light Bars Market

The outbreak of the COVID-19 virus had a massive impact on the global economy. A decline in demand for automotive light bars in many industries created several problems during the pandemic, which had adversely affected the global automotive light bars market. Furthermore, due to extensive movement restrictions and lockdowns, the economic activity had come to a halt. The shutdown of automotive manufacturing plants negatively impacted automotive light bars growth rate. The decrease in vehicle sales had a substantial impact on the automotive light bars sales, but it will certainly increase in the upcoming years as the need for advanced technology products grows. 

Recent Development

• In January 2022, Hyundai, a multinational automotive manufacturer company headquartered in South Korea, had launched Ioniq 5, the first electric vehicle that is free from the packaging and design constraints. This advanced lighting makes model stand out from the others.
• In January 2022, Mitsubishi, based in Japan, declared the Tokyo Auto Salon line-up in the upcoming 2022. It will exhibit 7 models in which including X Style, the Vision Ralliart Concept and K-EV concept. According to the company officials, its Ralliart Style cars will be changed to include a LED light bar, underbody protection, exposed bolts, and a new grille.

Global Automotive Light Bars Market Scope

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

Automotive Light Bars Market Regional Analysis/Insights

The automotive light bars market is analysed and market size insights and trends are provided by country, technology, vehicle type, installation, product type and application as referenced above.

The countries covered in the automotive light bars market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

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.   

Competitive Landscape and Automotive Light Bars Market Share Analysis

The automotive light bars market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive light bars market.

Some of the major players operating in the automotive light bars market are:

• 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)
• Engie SA (France)

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