On-highway Vehicle Lighting Market Size Worth $37.74 Billion By 2028
The global On-Highway Vehicle Lighting Market size is expected to reach USD 37.74 billion by 2028, according to a
new report by Grand View Research, Inc. It is projected to register a CAGR of 4.9% from 2021 to 2028. The growing
adoption of the latest technologies in automotive lighting and increasing penetration of LED lighting in the
automotive industry are anticipated to drive the demand for on-highway vehicle lighting. Automotive lighting has
continuously been evolving as manufacturers seek innovative ways to strengthen safety, improve performance,
and enhance aesthetics. Headlamps are particularly expected to witness developments in line with advancements
in LED and laser technologies.
Prominent market players are coming up with laser headlights featuring advanced lighting technology. For
instance, Osram provides its laser headlights to automotive manufacturers such as BMW and Audi. Models such as
Audi R8 and R8 LMX, BMW i8, and BMW 7 series feature Osram’s laser headlights. Laser headlights provide
luminance of up to five times higher than other light sources. They also provide a better high beam range of 300-
600 meters as compared to conventional headlights.
The COVID-19 pandemic has impacted the demand for on-highway vehicle lighting in 2020. The pandemic has
resulted in restrictions and lockdowns across the globe, subsequently leading to losses for industries such as
manufacturing, automobile, entertainment, restaurant, and hospitality. This slumped business scenario is
anticipated to negatively impact automotive production and demand for on-highway vehicle lighting. The global
automotive production witnessed an approximate 16% decline in 2020 as compared to 91.8 million units in 2019.
However, with the revival of economies and the gradual relaxation of restrictions, the market is likely to witness
significant growth over the forecast period.
Asia Pacific captured around 50% of the on-highway vehic