Transparency Market Research in its new report titled, “Headlight Market for Off Road Vehicles Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the headlight market for off road vehicles market. The TMR report anticipates that the rapid expansion of the construction industry, increase in smart farming, prominent mining industry, and increased tendency of off-road travelling will fuel the headlight market for off road vehicles market during the forecast period i.e, 2018-2026. Off-road vehicles such as earth moving equipment and construction material carrying vehicles witness significant demand. Demand for off-road vehicles that are utilized for agriculture purposes is rising owing to the increase in smart farming. Tractors, farm processing equipment, and crop processing equipment witnessed a prominent demand, which in turn fueled the demand for headlights for off-road vehicles. Preference for off-road travelling is significantly increasing among travelers from Europe and North America. Therefore, the demand for off-road vehicles and headlights for off-road vehicles is rising rapidly across these regions, says the report.
The TMR report has segregated the headlight market for off road vehicles based on vehicle application, light type, position, sales channel, and geography. On the basis of vehicle application, the headlight market for off-road vehicles is segmented into four segments. Vehicles used for mining applications witnessed significant demand for headlamps followed by the construction industry. These two industries continuously utilizes vehicles, during night and day. Moreover, the vehicles operating for these applications need to travel along diverse terrain. Consequently, these industries witnessed a significant demand for headlamps. In terms of light type, the headlight market for off-road vehicles is classified into seven segments. The high intensity discharge lights or xenon lights segment accounted for a major shares of the headlight market for off-road vehicles. The segment has been witnessing a rapid expansion since the introduction of LED lights. Based on position, the headlight market for off road vehicles is split into two segments. Expansion of the agriculture industry and increased off-road traveling have boosted the demand for headlights mounted above the front windshield.
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Based on sales channel, the headlight market for off-road vehicles is segregated into two segments. Several travelers and owners of off-road vehicles that are utilized in agriculture, prefer to equip their vehicles with different types of headlights, which make their vehicles attractive. Therefore, the aftermarket segment of the market is witnessing rise in demand for headlights. On a regional stand, the headlight market for off road vehicles is segmented into five prominent regions. North America comprises a prominent mining industry followed by rapidly expanding agriculture and construction industries. Therefore, North America accounts for a large number of off-road vehicles. Consequently, the region holds a prominent share of the global headlight market for off road vehicles. Key players operating in the headlight market for off road vehicles include Nox Lux, Arkema Group, ELAUSA ELECTRÒNICA I AUTOMATISMES S.L., HELLA GmbH & Co. KGaA, Pacific Insight Electronics Corp., HORPOL J.I.A.T. Horeczy Sp. J., and Infineon Technologies AG.
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