Vehicle Mounted Spotlights Market

Vehicle Mounted Spotlights Market Outlook (2022-2032)

The global vehicle mounted spotlight market is set to surpass a valuation of US$ 656.3 million in 2022 and further expand at a CAGR of 5.1% to reach US$ 1,082.9 million by the end of 2032.

Sales of vehicle mounted LED spotlight accounted for around than 2/3rd of the global spotlight market by the end of 2022.

Report Attributes	Details
Vehicle Mounted Spotlight Market Size (2021A)	US$ 627.9 Million
Estimated Market Value (2022E)	US$ 656.3 Million
Forecasted Market Value (2032F)	US$ 1,082.9 Million
Global Market Growth Rate (2022-2032)	5.1% CAGR
North America Market Share (2022)	~ 22.7%
North America Market Value (US$ Mn), 2022	US$ 148.8 Million
Europe Market Share (%), 2022	~20.8%
Europe Market Value (US$ Mn), 2022	US$ 136.7 Million
China Market Share (%), 2022	~15.3%
China Market Value (US$ Mn)	US$ 100.1 Million
Top 3 country Market Share (%)	~37%
Key Companies Profiled	Golight Inc. Unity Manufacturing Co. Larson Electronics KH Industries Inc. Spartaco LLC KC HiLiTES Inc. Whelen Engineering Company Inc.

Sales Analysis of Vehicle Mounted Spotlight Market (2017-2021) Vs. Market Forecast Outlook (2022-2032)

Vehicle-mounted spotlights are devices capable of improving the visibility of the user. They are mounted on vehicles and come in handy when dealing with vehicles at night or when due to the weather conditions it becomes difficult to view the surroundings. U.S, U.K, India, and China are lucrative markets, as they have several industries that could benefit from vehicle mounted spotlight

With the recovery of several industries such as construction, food, agriculture, ATVs etc. after the Covid-19 pandemic, the vehicle-mounted spotlight market has seen an increase in sales as these industries play a major role in the utilization of these devices. When compared to the pre-pandemic period, the sales of the product have now improved due to better technology and budget-friendly options in the market.

• Short Term (2022 Q2 to 2025): Increasing business of the construction and agriculture industry will improve the sales of vehicle mounted spotlight market.
• Medium Term (2025-2028): Innovations that will improve the efficiency of the light source will play a pivotal role in increasing the market value of the product
• Long Term (2028-2032): Expanding into other fields such as recreational activities will help improve the market share of the product

Over the 2017-2021 historical period, the global vehicle mounted spotlight market registered a CAGR of 2%, according to the Fact.MR, a market research and competitive intelligence provider.

Market share analysis of vehicle mounted spotlight market based on wattage and region is provided in a nutshell in the above image. Under the wattage segment, 25-50 W sub-segment dominates with 28.2% market share in 2022.

What’s Driving Demand for Vehicle Mounted Spotlight Market?

“Construction Industry to Play a Major Role in the Growth of the Vehicle Mounted Spotlight Market”

The demand for the vehicle-mounted spotlight is dependent heavily on the construction industry and it is evident as the construction industry is predicted to have a market share of 55.9% in 2022. These spotlights are adopted to provide the construction equipment better visibility at night on the sites.

These vehicle-mounted spotlights are also equipped with the highest-shock handling capabilities as on construction sites, extreme conditions are experienced. Hence, with the adoption of vehicle-mounted spotlights, the construction industry has witnessed a boom as the issue related to visibility has been resolved with this. Visibility is not only an issue during the night but also during the winter season and monsoon seasons.

With the increasing demand for construction equipment, the significant growth of the vehicle-mounted spotlights market is also visible. For instance. In 2022, the U.S. and China are expected to be the major countries for construction equipment sales. Further anticipated growth in the construction equipment in the coming years is providing impetus to the vehicle-mounted spotlights market.

“Presence of a Large Number of Manufacturers in the Market”

The global vehicle-mounted spotlights market has the presence of numerous manufacturers and distributors across the world, these include both, international as well as domestic manufacturers and distributors. The market giants such as Golight, KH Industries, and Whelen Engineering Company have a global presence due to a well-established wide distribution network, and domestic and small manufacturers are competing for the adoption of low-cost vehicle-mounted spotlights in emerging economies.

China has a large number of domestic players that offer vehicle-mounted spotlights to domestic customers at highly aggressive prices. The presence of both international, as well as domestic players, creates a steady demand for the supply chain of vehicle-mounted spotlights in the market, which acts as a driver for the growth of the global market.

What Concerns Should Vehicle Mounted Spotlight Market Manufacturers Avert?

“High Prices of Vehicle Mounted Spotlights by International Manufacturers Making it Difficult for them to Penetrate the Market”

Thought vehicle-mounted spotlights are highly beneficial in the construction industry and industrial equipment market due to their ability to enhance the visibility of the surroundings at night. However, the cost of the vehicle-mounted spotlights varies a lot from as low as US$ 50 to US$ 1,000.

Domestic manufacturers in emerging economies play a major role in providing budget-friendly vehicle-mounted spotlights, the prominent vendors are engaged in the manufacturing of sophisticated spotlights which includes spotlights which come accompanied with remotes that can be either wired or wireless.

For instance, a wired LED-based vehicle-mounted spotlight from Golight cost starts from US$ 410, while a wireless LED-based vehicle-mounted spotlight starts from US$ 740. The expensive nature of sophisticated spotlights leads many customers to prefer low-cost spotlights that are not very durable but meet their demands. This impact the growth of the vehicle-mounted spotlights market negatively.

“Dependence on the Prosperity of Other Industries to Hamper the Growth of the Vehicle Mounted Spotlight Vehicle Market”

The adoption of vehicle-mounted spotlights is highly dependent on the end-user industry. The end user industries include construction, agriculture, utility, and several others. Most of these industries go through a cyclical phase in terms of demand, which impacts the demand for vehicle-mounted spotlights.

For instance, post the Covid-19 pandemic situation, the global construction industry recorded the slowest growth in a decade. Due to the aftereffects caused by the devastation of the lockdown, several industries across the world, including the construction industry were forced to shut down their operations or operate at low productivity.

This has resulted in decreased capital investment by the industries. The reduced capital investment by the end-user industries impacts the demand for vehicle-mounted spotlights. Hence, the dependence on the performance of end-users is a challenge for the growth of the global vehicle-mounted spotlights market.

Country-wise Insights

How has the Agriculture and Food Industry in the U.S. Affected the Sales of Vehicle Mounted Spotlight Market in the Country?

Agriculture, food, and other related industries contributed a total of US$ 1.055 trillion to the GDP in 2020. In 2020, 10.3% of the total jobs available in the U.S. were related to the food and agricultural industry.

The total Agriculture and Food Sector in the U.S. are estimated to have 935,000 restaurants, 2.1 million farms, and 200,000+ registered food operations-related facilities like processing, manufacturing, and storage. The food and agriculture industry alone accounts for about one-fifth of the nation's economy.

With the food and agriculture industry playing a pivotal role in determining the country's economy, the capital invested in these industries is also high, a major portion of the investments deals with the equipment that is used in these industries.

Vehicle-mounted spotlights also have a significant contribution to the equipment used in agriculture and hence the U.S. has a major share in the market in this industry. The number is only expected to increase in the future.

How does the U.K. Contribute to the Vehicle Mounted Spotlight Market?

The construction industry has a huge impact on communities across the country, it has the potential to provide well-paid jobs to the citizens of the nation.

The construction industry plays a pivotal role in balancing the economy. It contributes to 7% of the nation's GDP. After the loss of business caused by the Covid-19 pandemic in 2020, the U.K. has witnessed a slow and significant rise in the construction industry. This has been due to the new projects taken up by various U.K.-based countries globally.

A continued partnership between the construction sector with several different organizations and businesses will play a pivotal role in the construction industry's success.

With an increase in the number of projects, the companies will have to operate in remote places as well as at night, both of which would require good illumination levels and as a result, a boom in the construction industry in the U.K would mean a rise in the sales of vehicle mounted spotlights in the country.

Category-wise Insights

How the LED-based Vehicle is Mounted Spotlight Performing in the Market?

LED as a light source is predicted to have a market share of 64.5% in 2022. The use of LED in vehicle-mounted spotlights has grown enormously in the recent past. The energy-efficient, compact, and solid-state lighting of LED is widely used by prominent manufacturers for designing vehicle-mounted spotlights for various applications.

The longer lifespan of LED-based vehicle-mounted spotlights has become a crucial factor for its adoption by customers across the world. The longer lifespan also justifies the high upfront cost charged by prominent vendors for their sophisticated vehicle-mounted spotlights.

Most LED-based spotlights have an average of 50,000 hours of full consistent lighting. Hence, some of the prominent vendors are only offering LED-based spotlights in the market. For instance, Whelen Engineering Company offers only LED-based spotlights in its product portfolio.

Additionally, region-specific manufacturers such as Baja Designs are also offering only LED-based spotlights to their customers. These factors are contributing to the growing share of LED in the vehicle-mounted spotlights market.

How does the Tractor Market Influence the Growth of the Vehicle Mounted Spotlight Market?

The demand for vehicle-mounted spotlights is driven by the tractors adoption across the world as spotlights make it easier and safer to work at night. Additionally, LED-based vehicle-mounted spotlights have a longer life, which allows customers to invest in vehicle-mounted spotlights.

Hence, the demand for vehicle-mounted spotlights is increasing among tractor owners. The ongoing increase in food demand across the world is leading to demand agriculture machinery such as tractors to enhance farm productivity.

The global demand for tractors is steadily rising, which is a crucial driver for the growth of the vehicle-mounted spotlights market. For instance, in 2021, more than 2 million tractors were sold across the world, India and China were the major countries for tractor sales. Further anticipated growth in the tractors in the coming years is providing impetus to the vehicle-mounted spotlights market.

Competitive Landscape

Prominent manufacturers of the vehicle mounted spotlight systems industry worldwide such as Golight Inc., Unity Manufacturing Co., Larson Electronics, KH Industries Inc., Spartaco LLC, KC HiLiTES Inc., Whelen Engineering Company Inc. etc are putting emphasis and making an effort on launching new products that are technologically more advanced than their competitors and are making use of marketing strategies such as collaborations and acquisitions to improve production capacities, gain a larger market share and improve market penetration.

In 2022, LarsonElectronics announced the release of a dual spot/flood combo LED work light bar. This aluminium body light bar is LED based and produces light of 7,680 lumens. The LEDs used in this are the Cree LEDs which are very lightweight

Fact.MR has provided detailed information about the price points of key manufacturers of vehicle mounted spotlight Market positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Vehicle Mounted Spotlight Market Industry Research

• By Light Source :

  • LED
  • HID
  • Halogen
  • Incandescent

• By Wattage :

  • Below 25 W
  • 25-50 W
  • 50-100 W
  • 100-150 W
  • Above 150 W

• By Lumens :

  • Below 2500 Lumens
  • 2500-5000 Lumens
  • 5000-10000 Lumens
  • Above 10000 Lumens

• By Control Type :

  • Wired
  • Wireless
  • Hybrid

• By Module Shape :

  • Round
  • Square

• By End Use :

  • Construction
  • Agriculture
  • Utility
  • Industrial

• By Sales Channel :

  • Direct-to-Customer
  • Third Party Online Channel
  • Specialty Stores
  • Modern Trade Channel

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA