LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global two-wheeler day-time running lights (DRL) market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global two-wheeler day-time running lights market will grow at a CAGR of over 11% during the forecast period. The greater energy efficiency, safety, and aesthetics driving demand for DRLs is a major factor driving the market’s growth.
Lighting has become an integral styling component of two-wheelers and OEMs are using lighting to improve the aesthetics of the vehicle. The global two-wheeler industry has been observing the high adoption of DRLs because of their energy efficiency, enhanced safety offered, and aesthetics. DRLs are now a most common feature in all new models. The penetration of DRLs in two-wheelers is still low in developing countries. But, there is a growing adoption of DRLs in most countries. Although LED lights are costlier than traditional halogen and xenon lamps, their share in increasing with their increasing usage in DRLs due to their greater energy-efficiency.
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In this report, Technavio highlights the advancement in LED technology in the field of semiconductors as one of the key emerging trends driving the global two-wheeler day-time running lights market:
Advancement in LED technology in the field of semiconductors
Light-emitting diode (LED) lighting, also known as solid-state lighting, is a semiconductor-based lighting technology. LED lights consist of lighting and signaling devices, which are mounted or integrated to the exterior or interior of modern vehicles. Lighting systems in vehicles provide safety and road illumination. LED technology is proving beneficial to the DRL market because LED is long lasting and less likely to get damaged than the traditional bulbs. In addition, the electric power consumed by LED is much less than the traditional bulb and produces a good amount of light using less power. It provides design flexibility because it consumes less space, which was a prime concern for a two-wheeler. Therefore, the use of LED in DRL for two-wheelers will drive the market during the forecast period.
The advancement of technology in the field of semiconductor is helping the vendors to develop the next generation LED platforms that are efficient. The advanced, high-quality LED headlamp improves road safety by providing more visibility to the driver. It also helps in increasing the conspicuity of the rider. This light has less energy consumption and emits less CO2 as it discharges less heat. It also increases the aesthetic appeal of the vehicle. This LED has a larger lifespan than that of conventional lights.
“Advancement in technology has led to the development of organic light-emitting diode. This form of LED provides homogeneous lighting and does not produce glare or cast any shadow. It is suitable for signal lights and tail lights. LED technology can handle adverse weather conditions such as fog, rain, and snow. Technologically advanced yellow lights with better visibility are apt for such situations,” says a senior analyst at Technavio for research on automotive electronics.
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Global two-wheeler day-time running lights market segmentation
This market research report segments the global two-wheeler day-time running lights market based on type of vehicles (motorcycle and scooter) and key regions (the Americas, APAC, and EMEA).
In 2017, APAC dominated the global two-wheeler DRL market with nearly 90% share of the overall market. APAC was followed by the Americas and EMEA. The market share of APAC is expected to decrease to some extent during the forecast period.
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