The global motorcycle lighting market to witness the introduction of thermal imaging cameras by 2021, owing to increased focus on vehicle safety during night says Technavio.
Technavio has announced its latest market research report on motorcycle lighting for the forecast period, 2017-2021. This market analysis, under the automotive electronics vertical, discusses the major drivers and key emerging trends that will influence the growth of the global motorcycle lighting market during the forecast period. Some of the top vendors listed in this industry analysis include OSRAM, Philips, HELLA, KOITO, and GE Lighting.
Among various geographies, APAC will be the fastest-growing region in the global market, and is expected to contribute revenues of around USD 4 billion by 2021. China, India, and Japan will emerge as the key revenue-generators.
“Increased R&D expenditure by vendors in technologies such as OLED to drive innovation and application will boost the market growth in the coming years. The OLED manufacturing process that was based on 2D glass substrates had to be adapted to the 3D glass substrates. The process involves not only the evolution of technologies and materials for manufacturing the glass substrates, but also includes vacuum-based OLED coating, encapsulation, and electrical contact,” says Siddarth Jaiswal, a lead analyst at Technavio for research on automotive electronics.
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This new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Success of lighting technology in automotive segment will drive demand in motorcycle segment
The automotive lighting market is highly competitive as vendors are introducing several innovative technologies to improve safety and performance. The increased focus on vehicle safety and the rising demand for better road lighting by customers are major drivers for the market growth. The increasing adoption of LED and laser lights and emphasis on vehicle styling (especially in luxury vehicles) are the prime factors driving the adoption of lighting in the passenger car variants. The growing awareness among customers and the ease to push the technology from passenger cars to motorcycles aid the introduction of new technologies in the motorcycle segment.
Growing focus on differentiation by automotive OEMs will drive demand for technologies such as LED and OLED
Motorcycle designers are looking to differentiate their products by creating new variants of exterior and interior lighting. New technologies that provide greater flexibility and scalability across different applications and vehicle models are providing opportunities for the designers to create a unique look, style, and feel. Designers apply these technologies to enhance the appeal of the motorcycle and increase the demand for heavyweight motorcycles. Along with new applications of lighting, the need for motorcycle design differentiation will increase the per-vehicle lighting value, contributing to the growth of the global motorcycle lighting market.
Growing demand for ambient lights driving motorcycle lighting market
Ambient lights are accessory lights used to enhance the visual appeal of the motorcycle. The accessory lights used in motorcycles include light rings, light pipes, LED pin spot lights, and diffuser lenses, and are fixed into the motorcycle’s body, instrument panel, and seat frames. The concept of ambient lighting stretches beyond aesthetic appeal and provides a psychologically pleasing effect on the riders, who in today’s scenario spend more time on the road. It enhances the functionality and comfort as it provides visibility and illuminates the necessary functions in the dark.
Some of the other prominent vendors identified in this report are Varroc Group and ZKW Group.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Motorcycle Lighting Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Motorcycle Infotainment System Market 2016-2020
- Global Motorcycle Adaptive Cruise Control Market 2016-2020
- Global Motorcycle Anti-lock Braking System Market 2016-2020
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