Global “Automotive Off-road Lighting Market” research report is an analysis of the current scenario of the market, which covers several market dynamics. The Automotive Off-road Lighting Market research report is a resource, which provides current as well as upcoming technical and financial details of the industry. In Automotive Off-road Lighting Market report, a thorough SWOT analysis and investment analysis is provided which forecasts imminent opportunities for the Automotive Off-road Lighting Market players.
Analysts forecast the globalAutomotive Off-road Lighting Market to grow at a CAGR of almost 9% during the period 2019-2023.Automotive Off-road LightingIndustry is the greatest segment ofAutomotive Off-road Lightingapplications, types with a share of 8.54% in 2018.
The Top Automotive Off-road Lighting Market Manufacturers/Key Players:
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About Automotive Off-road Lighting Market:
Automotive off-road lights improve driver visibility by illuminating the path. Our automotive off-road lighting market analysis considers the demand for off-road lights from end users such as aftermarket and OEM. Our analysis also considers the growth of the market in APAC, Europe, MEA, North America, and South America. In 2018, the aftermarket segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the limitations on the installation of off-road lights by OEMs will play a significant role in the aftermarket segment to maintain its market position. Also, our global automotive off-road lighting market looks at factors such as rising preference for durable and energy-efficient off-road lighting, increasing recreational and adventure sports activities, and the growing demand for SUVs and pickup trucks. However, high power consumption adversely affecting battery performance of vehicles, legal limitations on the use of off-road vehicles, and regulations restricting the use of off-road lights may hamper the growth of the automotive off-road lighting industry.
Some Major Point Cover in Automotive Off-road Lighting Market Report Are: –
Market Driver: growing demand for SUVs and pickup trucksMarket Trend: introduction of electric off-road racing vehiclesMarket Challenge: high-power consumption adversely affecting battery performance of vehiclesGrowing demand for SUVs and pickup trucksThe growing popularity of SUVs has considerably reduced the market share of hatchbacks and sedans. This has led to the discontinuation of several sedan models by some of the leading market players. Countries across APAC and Europe are witnessing a rise in the demand for SUVs compared to other types of passenger cars. SUVs and pickup trucks are road-legal and possess off-roading capabilities. Most of these vehicles come equipped with factory fitted off-road lighting. The growing demand for SUVs and pickup trucks will benefit the OEM segment and drive the growth of the global automotive off-road lighting market size at a CAGR of almost 9% during 2019-2023.Introduction of electric off-road vehiclesOne of the recent trends in the automotive off-road lighting market is the advent of electric off-road vehicles. Many ATV manufacturers are shifting their focus toward the development of environment-friendly off-road vehicles to reduce their carbon footprint. The adoption of electric-off road vehicles will increase the demand for energy efficient components, including lighting systems. This development is expected to have a positive impact on the growth of the global automotive active off-road lighting market size.
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Table of Contents of Automotive Off-road Lighting Market Report Contains:
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