By 2030, the LED Light Bar Industry Is Expected to Be Worth $1.3 Billion

By 2030, the LED Light Bar Industry Is Expected to Be Worth $1.3 Billion

Reportlinker.com announces the release of the report “Global LED Light Bars Industry”.

Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

Global LED Light Bars Market to Reach $1.3 Billion by 2030

In the changed post COVID-19 business landscape, the global market for LED Light Bars estimated at US$921.7 Million in the year 2022, is projected to reach a revised size of US$1.3 Billion by 2030, growing at a CAGR of 4.2% over the analysis period 2022-2030. Single Row, one of the segments analyzed in the report, is projected to record a 3.9% CAGR and reach US$656.7 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Dual Row segment is readjusted to a revised 4.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $251.1 Million, While China is Forecast to Grow at 7% CAGR

The LED Light Bars market in the U.S. is estimated at US$251.1 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$265.7 Million by the year 2030 trailing a CAGR of 7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 3.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$171.1 Million by the year 2030.

Select Competitors (Total 23 Featured)

  •  Auxbeam Lighting
  •  Baja Designs, Inc.
  •  Cree, Inc.
  •  Eaton Corporation PLC
  •  Globe Electric
  •  HEISE LED lighting systems
  •  Herbert Waldmann GmbH & Co. KG
  •  Highlite International BV
  •  Hubbell Lighting, Inc.
  •  Innotec, Corp.
  •  KC HiLiTES, Inc.
  •  Larson Electronics LLC
  •  Linmore LED Labs
  •  NTE Electronics, Inc.
  •  OSRAM GmbH
  •  Rigid Industries
  •  Showtech Electronics LLC
  •  Tough Industries
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