Automotive off-road lighting market 2021-2025: A descriptive analysis of five forces model, market trends, and segmentation - Technavio
NEW YORK, Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the global automotive off-road lighting market size is estimated to grow by USD 4.39 billion from 2020 to 2025. The market is estimated to grow at a CAGR of 8.77%. Moreover, the growth momentum will accelerate. North America will account for 50% of the market's growth during the forecast period. The growing demand for SUVs and pick-up trucks is a key trend in the market. Vehicles such as SUVs and pick-up trucks are used for off-roading, as they have capabilities such as all-wheel drive, high ground clearance, and different driving modes. Therefore, the sales of SUVs and pick-up trucks, especially in North America and Europe, have been increasing. Such factors will drive the growth of the auto parts and equipment market, which, in turn, will support the growth of the global automotive off-road lighting market during the forecast period, For more insights,buy the report!
Global automotive off-road lighting market - Five forces
The global automotive off-road lighting market is fragmented, and the five forces analysis covers–
- Bargaining power of buyers
- The threat of new entrants
- Threat of rivalry
- Bargaining power of suppliers
- Threat of substitutes
- For interpretation of Porter's five forces model – Request a sample report
Global automotive off-road lighting market – Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global automotive off-road lighting market - Segmentation assessment
Segment overview
Technavio has segmented the market based on end user (aftermarket and OEMs).
- The rise in the number of exhibitions and events, such as the Off-Road Expo that offers an opportunity for off-road vehicle enthusiasts to gain knowledge about various off-road vehicles and their components. Such events exclusively showcase off-road vehicles. These factors will drive the growth of the segment during the forecast period.
Geography overview
Based on geography, the global automotive off-road lighting market is segmented into North America, Europe, APAC, South America, and MEA. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive off-road lighting market.
- North America will account for 50% of the market's during the forecast period. The US and Canada are the key contributors to the market's growth in the region. Moreover, market growth in this region will be faster than the growth of the market in regions. The presence of a large number of off-roading enthusiasts increases off-road recreational activities and off-road racing event viewership, which will, in turn, drive the market growth in North America during the forecast period.
Global automotive off-road lighting market – Market dynamics
Key factor driving market growth
- The increasing demand for vehicles for recreational and adventurous sports activities is driving the growth of the market.
- The market is highly dependent on the demand for off-road vehicles.
- Therefore, the rising number of recreational and adventure sports activities across several regions is accelerating the demand for off-road vehicles.
- Associations such as the Canada Council of Snowmobile and North America Snowmobile conduct sports events every year, which drives the sales of ATVs.
- Therefore, due to the increasing number of recreational and adventure sports activities, the demand for off-road vehicles is expected to rise during the forecast period
Major challenges hindering market growth
- The legal limitations associated with the use of off-road vehicles are challenging the growth of the market.
- Many cities across the world have banned the use of high-performance off-road vehicles within city limits. For instance, the use of all-terrain vehicles, dirt bikes, and other four-wheel off-road high-performance vehicles is prohibited in NYC, US.
- In addition, there are many complications involved in off-road vehicle licensing, as most off-road vehicles are not street-legal.
- These limitations will negatively impact the global automotive off-road lighting market during the forecast period.
What are the key data covered in this automotive off-road lighting market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the automotive off-road lighting market between 2021 and 2025
- Precise estimation of the size of the automotive off-road lighting market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the automotive off-road lighting market across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of automotive off-road lighting market vendors
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Automotive Off-road Lighting Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.77% |
Market growth 2021-2025 |
USD 4.39 billion |
Market structure |
Fragmented |
YoY growth 2020-2021 (%) |
8.21 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 50% |
Key countries |
US, Canada, Germany, Australia, and France |
Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled |
C.G. Motorsports Inc., Grote Industries LLC, Guangzhou Teehon Electronics Co. Ltd., HELLA GmbH and Co. KGaA, KC HiLiTES Inc., Lazer Lamps Ltd., Oracle Lighting, OSRAM GmbH, Truck-Lite Co. LLC, and Valeo SA |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio's consumer discretionary market reports
Table of contents
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Automotive components and accessories market
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 15: End user - Market share 2020-2025 (%)
- 5.2 Comparison by End user
- Exhibit 16: Comparison by End user
- 5.3 Aftermarket - Market size and forecast 2020-2025
- Exhibit 17: Aftermarket - Market size and forecast 2020-2025 ($ billion)
- Exhibit 18: Aftermarket - Year-over-year growth 2020-2025 (%)
- 5.4 OEMs - Market size and forecast 2020-2025
- Exhibit 19: OEMs - Market size and forecast 2020-2025 ($ billion)
- Exhibit 20: OEMs - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by End user
- Exhibit 21: Market opportunity by End user
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 North America - Market size and forecast 2020-2025
- Exhibit 25: North America - Market size and forecast 2020-2025 ($ billion)
- Exhibit 26: North America - Year-over-year growth 2020-2025 (%)
- 7.4 Europe - Market size and forecast 2020-2025
- Exhibit 27: Europe - Market size and forecast 2020-2025 ($ billion)
- Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
- 7.5 APAC - Market size and forecast 2020-2025
- Exhibit 29: APAC - Market size and forecast 2020-2025 ($ billion)
- Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 31: South America - Market size and forecast 2020-2025 ($ billion)
- Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 33: MEA - Market size and forecast 2020-2025 ($ billion)
- Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography ($ billion)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 37: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Overview
- Exhibit 38: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 41: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 42: Market positioning of vendors
- 10.3 C.G. Motorsports Inc.
- Exhibit 43: C.G. Motorsports Inc. - Overview
- Exhibit 44: C.G. Motorsports Inc. - Product and service
- Exhibit 45: C.G. Motorsports Inc. - Key offerings
- 10.4 Grote Industries LLC
- Exhibit 46: Grote Industries LLC - Overview
- Exhibit 47: Grote Industries LLC - Product and service
- Exhibit 48: Grote Industries LLC - Key offerings
- 10.5 Guangzhou Teehon Electronics Co. Ltd.
- Exhibit 49: Guangzhou Teehon Electronics Co. Ltd. - Overview
- Exhibit 50: Guangzhou Teehon Electronics Co. Ltd. - Product and service
- Exhibit 51: Guangzhou Teehon Electronics Co. Ltd. - Key offerings
- 10.6 HELLA GmbH and Co. KGaA
- 10.7 KC HiLiTES Inc.
- Exhibit 57: KC HiLiTES Inc. - Overview
- Exhibit 58: KC HiLiTES Inc. - Product and service
- Exhibit 59: KC HiLiTES Inc. - Key offerings
- 10.8 Lazer Lamps Ltd.
- Exhibit 60: Lazer Lamps Ltd. - Overview
- Exhibit 61: Lazer Lamps Ltd. - Product and service
- Exhibit 62: Lazer Lamps Ltd. - Key offerings
- 10.9 Oracle Lighting
- Exhibit 63: Oracle Lighting - Overview
- Exhibit 64: Oracle Lighting - Product and service
- Exhibit 65: Oracle Lighting - Key news
- Exhibit 66: Oracle Lighting - Key offerings
- 10.10 OSRAM GmbH
- Exhibit 67: OSRAM GmbH - Overview
- Exhibit 68: OSRAM GmbH - Business segments
- Exhibit 69: OSRAM GmbH - Key news
- Exhibit 70: OSRAM GmbH - Key offerings
- Exhibit 71: OSRAM GmbH - Segment focus
- 10.11 Truck-Lite Co. LLC
- Exhibit 72: Truck-Lite Co. LLC - Overview
- Exhibit 73: Truck-Lite Co. LLC - Product and service
- Exhibit 74: Truck-Lite Co. LLC - Key offerings
- 10.12 Valeo SA
- Exhibit 75: Valeo SA - Overview
- Exhibit 76: Valeo SA - Business segments
- Exhibit 77: Valeo SA - Key offerings
- Exhibit 78: Valeo SA - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 79: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 80: Research Methodology
- Exhibit 81: Validation techniques employed for market sizing
- Exhibit 82: Information sources
- 11.4 List of abbreviations
- Exhibit 83: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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