Technology Proliferation to Boost Off-Highway Vehicle Lighting Demand

23 May 2019: Thanks to the exploding automotive sales, the Off-Highway Vehicle Lighting market is also gaining huge traction. Roughly, one quarter of American traffic is driven at twilight or at night therefore, increasing the risk of accidental fatalities due to lack of visibility. Strict regulation for road safety, rising focus on energy efficient lighting solution, and emphasis on vehicle’s exterior aesthetics are contributing to the bolstering of modern lighting technology.

LED is a new obsession:

The advent of lumen packages is promising steady growth during the forecast period i.e. 2018-2025. Several standards and product specifications have been developed to ensure optimization in terms of performing necessary visual tasks even in diminished light. Headlamps are becoming styling elements for automotive manufacturers. As a result, design trends have gone beyond conventional halogen lamps toward an introduction of remote or fiber control HID sources. Optical design advances have presented LED vehicle forward lighting as a natural progression of modern-day technology. It has reduced glare and power consumption, enhanced peripheral visual performance, robustness, longer product life, and design flexibility thus, positively impacting consumer preference. 

LED holds a major chunk of the revenue share as it effectively meets appropriate lighting standards and regulations. Fioravanti Yak motor concept is based on an LED forward lighting system, which includes applications of integrated headlamps and fog lamps with varying beam intensity. It is significantly revolutionizing the overall market dynamics particularly in marking and signaling applications. 

Competitive Landscape:

Some of the key contenders functioning in this market are LG Display Co., Ltd.; HELLA GmbH & Co. KGaA.; Hyundai Mobis; Neolite ZKW; Varroc Group; Johnson Electric; De Amertek Corp; Magneti Marelli S.p.A; Koninklijke Philips N.V.; Continental AG; Ichikoh Industries Ltd.; Denso Corporation; STANLEY ELECTRIC CO., LTD.; Lumberg Holding; OSRAM; Koito Manufacturing Co. Ltd.; Fraunhofer- Gesellschaft, Cree, Inc.; Robert Bosch GmbH; and SG Automotive among others.