HID Lamps to Create an Absolute Dollar Opportunity of Over USD 1.7 Billion in Heavy Equipment Lamps Market

- Heavy Equipment Lamps Market to Expand at a CAGR of 4.3% by 2032: Fact.MR

- Fact.MR's recently published report on the heavy equipment lamps market offers a comprehensive analysis of the leading segments in terms of lamp type, lighting type and end use industries & region. In addition, it provides in-depth information about the market dynamics, including drivers, restraints, latest trends, and growth opportunities.

NEW YORK, Jan. 12, 2022 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: The heavy equipment lamps market is expected to increase at a CAGR of 4.3% from 2022 to 2032, from USD 7.1 billion in 2022 to USD 10.9 billion in 2032.

When compared to halogen bulbs, heavy equipment lamps have a longer life duration and use less energy. Furthermore, their versatility in use (shops, building sites, arenas, warehouses, etc.) distinguishes them as a unique industrial equipment. HEL (Heavy Equipment Lamps) are also expected to develop in the near future, given the aforementioned facts.

For Critical Insights On This Market, Request For More Info https://www.factmr.com/connectus/sample?flag=S&rep_id=365 

A rising number of companies are using LED lighting for heavy equipment to work safely, especially during night-time operations. LEDs may also work at a variety of voltages, making them suitable for use in heavy machinery. Furthermore, portable LED towers are being used instead of permanent lighting fixtures because they are easier to install.

Signal lamps will hold a 32% market share in 2032, owing to rising air traffic and a high demand for aviation light signals in air traffic control towers, which are utilized as a backup in the event of aircraft radio failure.

During the forecast period, construction equipment is likely to emerge as a prominent end use industry in the heavy equipment lighting industry. Construction equipment is expected to be worth more than USD 4.2 billion by 2032.

In both rural and urban regions, mechanization of earth moving equipment will provide a high-growth opportunity. As a result, the need for excavators and small backhoe loaders to perform excavating and levelling operations is expanding. To promote increased mechanization, the government has implemented a number of schemes aimed at increasing heavy equipment sales. This is boosting the demand for heavy equipment lighting.

In East Asia, China holds the prominent market share in East-Asia heavy equipment lamp market accounting for approximately 50% of market share.

Key Takeaways:

• China heavy equipment lamp market is anticipated to reach a valuation of USD 1.6 Billion by the end of 2032.
• U.S heavy equipment lamp market is expected to grow at a CAGR of 3.6% during the forecast period.
• By lamp type, signal lamps to dominate the market with reaching USD 3.8 Billion.
• By lighting type, HID heavy equipment lamps to account for the one third of the global revenue share

Growth Drivers:

• Long life span and low energy usage to drive the demand for heavy equipment lamps.
• Rising use of construction equipment to drive the heavy equipment lamps market growth.
• Increasing sales of heavy equipment to spur the adoption of construction equipment lighting.     

To learn more about Heavy Equipment Lamps Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=365

Competitive Landscape

Organic and inorganic growth strategies are being pursued by the leading players in order to attract a large number of customers to the market. Market companies are constantly merging, acquiring, and partnering with new entrants in order to adapt new ideas and expand their product range.

Key Players in the Heavy Equipment Lamps Market are

• Koito Manufacturing Co Ltd
• Stanley Electric
• OSRAM GmbH
• General Electric Company
• Catepillar, Inc.
• HELLA GmbH & Co. KGaA
• J.W. Speaker Corporation
• Neolite ZKW Lightings Pvt. Ltd
• Grote Industries, Inc.
• Autolite (India) Limited

More Valuable Insights on Heavy Equipment Lamps Market

Fact.MR provides an unbiased analysis of the heavy equipment lamps market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global heavy equipment lamps market with a detailed segmentation on the basis of:

• By Lamp Type :
• Head Lamps
• Rear Lamps
• Signal Lamps
• Flashing Lamps
• Other Lamps
• By Lighting Type :
• LEDs
• Halogen Lamps
• HID lamps
• Other Lighting Types
• By End Use Industries :
• Construction Equipment
• Mining Equipment
• Agriculture & Farm Machinery
• Other Heavy Industrial Equipment

Key Questions Covered in Heavy Equipment Lamps Market Report

• The report offers insight into the heavy equipment lamps market demand outlook for 2022-2032.
• The market study also highlights projected sales growth for heavy equipment lamps market between 2022 and 2032.
• Heavy equipment lamps market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
• Heavy equipment lamps market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

Explore Fact.MR's Coverage on the Industrial Goods Domain –

Construction Equipment Market Forecast - Due to rising equipment costs, increasing economic uncertainty, a shortage of funding, technological advancements, and unpredictable building and infrastructure growth, the construction equipment rental market has been gaining pace. The global industry will be fueled by rising infrastructure development projects around the world.

Heavy loader Market Insights - The heavy loader is important in minimizing labor costs and completing the project on time. In addition, rental and lease services encourage project contractors to use heavy loaders, which saves time and money. The heavy loader is being used more frequently as the demand for mining activities grows.

Construction Equipment Repair and Maintenance Services Market Scope - The demand for construction equipment repair and maintenance services is being driven by an increase in infrastructure, house building, and mining. Furthermore, the global market has grown steadily over the last decade; nevertheless, market circumstances have lately deteriorated.

Forestry Excavators Market Analysis - The growing need for wood and wood-related products around the world is driving forestry excavator sales. The transition to mechanical techniques for chopping down forest trees has boosted demand for forestry excavators, which is likely to continue during the projection period.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, industrial goods to even the most niche categories. 80% of Fortune 1000's trust us in critical decision making.

MarketNgage is powered by Fact.MR – our Unified Intelligence Engine, a revolutionary Market Research Subscription platform with a flexible pricing to suit your needs.

You can access all our healthcare research reports by signing up with MarketNgage's Market Research Subscription with FREE credits. MarketNgage is powered by Fact.MR – A Fully integrated research solution for seamless single-window access Widest coverage on emerging markets, nascent products, and disruptive technologies.

Contact:

Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com

Logo: https://mma.prnewswire.com/media/713666/FactMR_Logo.jpg