Global LED Light Bar Market Overview:
In recent years, consumer buying behavior has changed dramatically. Consumers are more inclined to products that are not only less damaging to the environment but are also more efficient compared to conventional products. LED light strips were hailed as a brilliant alternative to off-road light strips. An LED light bar produces more light per watt than most other lights. In contrast to fluorescent light bars or fluorescent tubes, the intensity and efficiency of the light bar cannot be influenced by the shape or size of the light bar. The effectiveness of the light can also be seen during the on / off time of the light bar. The LED light bar takes less than a microsecond to reach full brightness. LED light bars can also discharge the intended color light without the need to use colored domes, color filters, or other traditional methods of changing the color of the light. This means that the production costs decrease due to the use of fewer components. The vehicle's LED lights are also used as a warning system in emergency vehicles to warn other vehicles on the road. These LED lights are available in yellow, green, red, orange, and almost any color. The blue and red are associated with police cars, while the red light bars are associated with ambulances and fire trucks. LED light strips are also placed on the floor of large vehicles, giving the inside an exclusive look. These LED light strips are energy efficient and have a longer lifespan.
Growth Drivers
- The Increasing Availability of Aftermarket Lights
- The Rising Construction and Mining & Trade Activities
- A Rise in Continuous Infrastructural Development
Market Trends
- The Adoption of Incandescent Lighting Products to Improve Energy Efficiency and Reduce Co2 Emission
- The Increasing Number of Specialty Stores As Well As Brand Tie-Ups with Various Retail Chains
Roadblocks
- A Very High Initial Cost for Installing a LED Light Bar
Opportunities
- Government Organizations across the World Are Emphasizing On the Implementation of Specific Standards for Lighting Products
Challenges
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Osram (Germany), GE Lighting (United States), Eaton (Ireland), Philips (Netherlands), Wolfspeed (United States), Hubbell Lighting (United States), Globe Electric (Canada), Larson Electronics (United States), Waldmann Group (Germany), Rigid Industries (United States), Baja Designs (United States), KC HiLiTES (United States) and Tough Industries (United States). Additionally, following companies can also be profiled that are part of our coverage like Innotec (United States), HEISE LED Lighting Systems (United States) and Auxbeam Lighting (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global LED Light Bar market by 2026. Considering Market by Power Ratings, the sub-segment i.e. Below 100W will boost the LED Light Bar market. Considering Market by Configuration, the sub-segment i.e. Single Row will boost the LED Light Bar market. Considering Market by Sales Channel, the sub-segment i.e. Online will boost the LED Light Bar market. Considering Market by Beam Type, the sub-segment i.e. Flood Type will boost the LED Light Bar market.
Latest Market Insights:
In 2020, Savant Systems had completed the acquisition of GE Lighting.
What Can be Explored with the LED Light Bar Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global LED Light Bar Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in LED Light Bar
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global LED Light Bar market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in LED Light Bar market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers of LED Light Bar, Suppliers and Distributors of LED Light Bar, Venture Capitalists and Private Equity Firms and End-Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.