Global Off-highway Vehicle Lighting Market Size to Exceed USD 2.19 Billion By 2033: Market Study Report

Global Off-highway Vehicle Lighting Market Size to Exceed USD 2.19 Billion By 2033

According to a research report published by Spherical Insights & Consulting, The Global Off-highway Vehicle Lighting Market Size is Expected to Grow from USD 1.05 Billion in 2023 to USD 2.19 Billion by 2033, Growing at a CAGR of 7.63% during the forecast period 2023-2033.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Off-highway Vehicle Lighting Market Size, Share, and COVID-19 Impact Analysis, By Product (LED, Halogen, HID, Incandescent), By Vehicle (Excavator, Loader, Crane, Dump Truck, Tractor, Other), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis And Forecast 2023 - 2033

The worldwide off-highway vehicle lighting market refers to business that focuses on lighting solutions for vehicles operating in rugged environments, such as construction equipment, agricultural machinery, mining vehicles, and forestry machinery. This market expansion is mostly driven by the strong demand for construction and mining equipment. Additionally, the market is anticipated to rise as a result of the increasing use of LED lighting due to its improved performance. It is also anticipated that government rules of workplace safety and vehicle lighting would aid in expanding usage. Furthermore, it is projected that rising demand for cars with improved comfort, safety, and convenience, especially in developing and developed nations, will support market expansion during the projection period. However, the market growth will be impeded by high infrastructure costs.

The LED segment held a significant share of the global off-highway vehicle lighting market in 2023 and is anticipated to grow at a rapid pace over the forecast period.

On the basis of the product, the global off-highway vehicle lighting market is differentiated into LED, halogen, HID, and incandescent. Among these, the LED segment held a significant share of the global off-highway vehicle lighting market in 2023 and is anticipated to grow at a rapid pace over the forecast period. This is due to the notable decrease in production costs and rising requirement for energy efficient light sources.

The dump truck segment held a significant share of the global off-highway vehicle lighting market in 2023 and is anticipated to grow at a rapid pace over the forecast period.

On the basis of the vehicle, the global off-highway vehicle lighting market is categorized into excavator, loader, crane, dump truck, tractor, and other. Among these, the dump truck segment held a significant share of the global off-highway vehicle lighting market in 2023 and is anticipated to grow at a rapid pace over the forecast period. This is because of the advanced driver assistance system (ADAS), which has features such as adaptive front lighting and night vision. Additionally, the upward trend in the production of class 7 and 8 trucks is expected to boost the segment's growth prospects.

Asia Pacific is anticipated to hold the largest share of the global off-highway vehicle lighting market over the forecast period.

Asia Pacific is predicted to hold the greatest share of the global off-highway vehicle lighting market over the forecast period. The regional market is propelling due to the need for construction equipment is rising as a result of an increasing number of infrastructure development and improvement projects in nations like China and India. Moreover, an increasing requirement for excavation and construction equipment boosts the market.

Europe is predicted to grow at the fastest CAGR of the global off-highway vehicle lighting market over the forecast period. The regional market expansion is accelerated due to the existence of several producers of construction machinery and earthmoving equipment. Further contributing to the development are several public infrastructure initiatives, ongoing commercial construction projects, and elements like an emphasis on sustainability. The countries UK and Germany show market wide opportunities for region.

Company Profiling

Major vendors in the global off-highway vehicle lighting market are Truck-Lite, APS Lighting and Safety, Grote Industries, ECCO Safety Group, Hamsar Diversco Inc., J.W. Speaker Corporation, WESEM, HELLA GmbH & Co. KGaA, ABL Lights Group, and Peterson Manufacturing Co, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In March 2024, Steelbird Hi-Tech India, a prominent helmet manufacturer, celebrated its 60th anniversary with ambitious expansion plans. The company launched 70 new helmet models to strengthen its presence in both the Indian and global markets. Additionally, Steelbird invested RS 250 crore to establish a state-of-the-art manufacturing facility in Hosur, Tamil Nadu. This facility had an initial production capacity of 20,000 helmets per day and was expected to create around 2,000 direct jobs.

Market Segment                                             

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global off-highway vehicle lighting market based on the below-mentioned segments: 

Global Off-highway Vehicle Lighting Market, By Product

• LED
• Halogen
• HID
• Incandescent

Global Off-highway Vehicle Lighting Market, By Vehicle

• Excavator
• Loader
• Crane
• Dump Truck
• Tractor
• Other

Global Off-highway Vehicle Lighting Market, By Regional

•  North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa