Sales of Wireless Vehicle Mounted Spotlights to Accelerate at 5.7% CAGR through 2030
In a recent market survey, Fact.MR presents analysis of key developments witnessed in the global vehicle mounted spotlights market. It also covers factors enabling growth across various segments in terms of light source, wattage, lumens, control type, module type, end-use, and sales channels.
NEW YORK, Nov. 30, 2021 /PRNewswire/ -- Global sales of vehicle mounted spotlights are poised to top US$ 980 Mn by 2030, growing at 4% CAGR between 2020 and 2030, opines Fact.MR in a recent market survey. Growing demand for energy-efficient lighting solutions in the agriculture sector is expected to boost sales of LED vehicle mounted spotlights, therefore augmenting the growth of the market.
The onset of the COVID-19 pandemic dampened sales prospects to an extent. However, with the resumption of trade activities and logistics, recovery of the vehicle mounted spotlights market is on the cards. Improving focus on safety also will boost adoption in the transportation sector.
Besides this, increasing sales of off-road vehicles are spurring demand for effective lighting solutions to prevent accidents. As per the Association for Safe International Road Travel, approximately 3,700 fatalities get reported every day due to road accidents. This has asserted the importance of adequate lighting systems in heavy vehicles, which in turn is driving sales of vehicle mounted spotlights.
Ongoing expansion of the agriculture sector across the globe is expected to be a chief factor fuelling growth in the market. Vehicle mounted spotlights are durable and sufficiently fulfill the lighting requirements in larger farms. This is expected to continue pushing sales of LED vehicle mounted spotlights in the forthcoming years.
Technological advancements in lighting systems, such as wireless vehicle mounted spotlights are expected to augment growth of the market. Increasing demand for all-weather lights for optimal performance in harsh weather conditions is encouraging product developments among key players. This is in turn creating a conducive environment for the sales of vehicle mounted spotlights.
As per Fact.MR, the U.S. is projected to emerge as a lucrative pocket in the North America vehicle mounted spotlights market. The presence of a robust automotive and agriculture sector, along with growing emphasis on road and on-premises safety solutions will continue bolstering sales of vehicle mounted spotlights over the forecast period.
"Increasing availability of a wide range of vehicle mounted spotlights via online retail channels is expected to continue pushing sales over the assessment period. In addition to this, technological advancements in hybrid spotlights will create attractive prospects for growth in the coming years," says a Fact.MR analyst.
Key players operating in the global vehicle mounted spotlight market are investing in research and development to launch new products, catering to a growing consumer pool. Besides this, mergers, acquisitions, collaborations and partnerships will remain anticipated strategies adopted by players to gain a competitive edge.
For instance, in November 2019, Golight, Inc. launched new and powerful versions of its Stryker ST and Golight GT remote-controlled LED spotlight lamps. The introduction of these variants has marked a milestone in vehicle mounted, remote-controlled spotlight lamps and they have a beam strength of 544,000 candela, which makes them 33% more powerful than their counterparts.
Key Players in the Vehicle Mounted Spotlights Market Include:
Unity Manufacturing Co.
KH Industries, Inc.
Spartaco LLC (Jameson)
KC HiLiTES Inc.
Whelen Engineering Company Inc.
More Valuable Insights on Vehicle Mounted Spotlights Market
Fact.MR provides an unbiased analysis of the vehicle mounted spotlights market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the global vehicle mounted spotlights market with a detailed segmentation on the basis of:
Below 25 W
Above 150 W
Below 2500 Lumens
Above 10000 Lumens
Third-party Online Channels
Modern Trade Channels
Key Questions Covered in Vehicle Mounted Spotlights Market Report
The report offers insight into the vehicle mounted spotlights market demand outlook for 2020-2030.
The market study also highlights projected sales growth for vehicle mounted spotlights market between 2020 and 2030.
Vehicle mounted spotlights 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.
Vehicle mounted spotlights 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.
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