All terrain vehicle lighting system market

All-Terrain Vehicle (ATV) Lighting Systems Market, By Type (Rear Lighting, Front Lighting, and Others), By Supplier (OEM and Aftermarkets), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jan 2023
CMI3812
130 Pages
Excel & Pdf
Automotive and Transportation

Summary

All-terrain vehicles are also known as quad bikes. There are two variants of quad bikes: three-wheeler and four-wheeler. All-terrain vehicles are capable of reaching remote areas in dessert, mountains, and snow lands. The lighting systems of ATVs can be categorized into: front lighting and rear lighting. Due to recent developments in LED technology, the demand for ATV lighting systems has increased in recent years. For instance, companies such as Piaa Corporation have specially designed LED and halogen lights for all-terrain vehicles. Moreover, companies are also launching electric all-terrain vehicles. For instance, Ecocharger Company launched an electric ATV vehicle in December 2018.

The global all-terrain vehicle (ATV) lighting systems market is expected to witness significant growth during the forecast period (2020–2027). The market growth is majorly attributed to the increasing number of ATV racing events across the globe. For instance, MX sports have scheduled 10 ATV events for the year 2020. Such racing events are increasing the popularity of ATV bikes and are expected to drive market growth during the forecast period.

The major restraining factor for the global all-terrain vehicle (ATV) lighting systems market is the high initial cost of the vehicle. The average price of an ATV vehicle is around US$ 10,000.

The global all-terrain vehicle lighting system market was valued at US$ 110.47 Mn in 2021.

Recent Developments:

In June 2021, Warn Industries, a manufacturer of vehicle recovery equipment and off-road vehicle accessories, announced the acquisition of Fabtech Industries, Inc., a manufacturer of aftermarket suspensions for lights. Through this acquisition, WARN and Fabtech combined their brands to provide customers with more solutions.

All-Terrain Vehicle (ATV) Lighting Systems Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 110.47 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	3.5 %	2030 Value Projection:	US$ 147.65 Mn
Geographies covered:	North America:U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:	By Type: Rear Lighting, Front Lighting, and Others By Supplier: OEM and Aftermarkets
Companies covered:	Baja Designs, Lazer Star Lights, Nextech Industries, Oracle Lighting, Piaa Corporation, Plasmaglow, Polaris Industries, Vision X USA, Warn Industries, and Xprite.
Growth Drivers:	Increasing demand for all-terrain vehicles (ATVs) from the recreational segment is expected to drive the growth of the ATV lighting system market during the forecast period Growing awareness about safety while riding ATVs is another key factor that is expected to boost the adoption of these systems in the near future
Restraints & Challenges:	Increase in the Accident Rate-Related To All Terrain Vehicle.

Restraint:

Increase in the Accident Rate-Related To All Terrain Vehicle.

All-Terrain Vehicle (ATV) Lighting Systems Market - Impact of Coronavirus (Covid-19) Pandemic:

The global all-terrain vehicle (ATV) lighting systems market has been negatively impacted by the COVID-19 epidemic. Furthermore, the pandemic disrupted supply chains and logistics due to a lack of raw materials. As a result, manufacturers experienced financial difficulties and had to postpone many new projects, which negatively impacted the sales of all-terrain vehicle (ATV) lighting systems. As a result during the pandemic, the market for all-terrain vehicle (ATV) lighting systems grew slowly.

North America held a dominant position in the global all-terrain vehicle lighting system market in 2021

Statistics:

North America region dominated the global all-terrain vehicle lighting system market in 2021, accounting for a 37.5% share in terms of value, followed by Europe, Asia Pacific and Latin America, respectively

Figure 1: Global All-Terrain Vehicle Lighting Systems Market Share (%), By Region, 2021

North America held dominant position in the global all-terrain vehicle (ATV) lighting systems market in 2019 and is projected to retain its dominance throughout the forecast period. This is owing to increasing number of ATV events in the recent years. For instance, according to CMI analysis, in Ontario, Canada, around 60 ATV events were held in the year 2019. Ontario is a province in Canada, which is popularly known for ATV events. CGHSF Foundation organized an ATV event to raise fund for the new MRI machine in Owen Hospital in Ontario in September 2018. Due to such events, popularity of ATV sports is increasing and lighting systems are an important part of ATV vehicles. ATVs are off-road vehicles and mostly driven on remote dessert or mountain areas. Therefore, visibility at the time of night or bad weather is very much important to avoid the risk of accidents.

Asia Pacific region is expected to show highest growth during the forecast period. In countries such as India, ATV sports is becoming popular. In March 2019, Auto Sports India organized ATV championship in three categories: Drag race, Solo Dirt Race, and Endurance Race in Goa. The popularity of ATV sports is expected to increase in the near future. Owing to these reasons, the all-terrain vehicle lighting systems market is expected to show a significant growth during the forecast period in Asia Pacific region

Figure 2: Global All-Terrain Vehicle (ATV) Lighting Systems Market (US$ Mn) Analysis and Forecast, 2022 - 2030

The global all-terrain vehicle (ATV) lighting systems market was valued at US$ 110.47 Mn in 2021 and is expected to reach US$ X147.65 Mn by 2030, growing at a CAGR of 3.5% between 2022 and 2030.

Major players operating in the global all-terrain vehicle (ATV) lighting systems market include Baja Designs, Lazer Star Lights, Nextech Industries, Oracle Lighting, Piaa Corporation, Plasmaglow, Polaris Industries, Vision X USA, Warn Industries, and Xprite.

Table of Content

Table of Contents

*Browse 60 market data tables and 40 figures on "Global All-Terrain Vehicle Lighting Systems Market- Global forecast to 2030”.

Segmentation

Detailed Segmentation

Global All-Terrain Vehicle (ATV) Lighting Systems Market, By Type:
- Rear Lightning
- Front lightning
- Others
Global All-Terrain Vehicle (ATV) Lighting Systems Market, By Supplier:
- Aftermarkets
- OEM
Global All-Terrain Vehicle (ATV) Lighting Systems, By Region:
- North America
  - By Type:
    - Rear Lightning
    - Front lightning
    - Others
  - By Supplier:
    - Aftermarkets
    - OEM
  - By Country:
    - U.S.
    - Canada
- Europe
  - By Type:
    - Rear Lightning
    - Front lightning
    - Others
  - By Supplier:
    - Aftermarkets
    - OEM
  - By Country:
    - Germany
    - Italy
    - U.K.
    - France
    - Russia
    - Rest of Europe
- Asia Pacific
  - By Type:
    - Rear Lightning
    - Front lightning
    - Others
  - By Supplier:
    - Aftermarkets
    - OEM
  - By Country:
    - China
    - India
    - Japan
    - Australia
    - South Korea
    - ASEAN
    - Rest of Asia Pacific
- Latin America
  - By Type:
    - Rear Lightning
      - Front lightning
    - Others
  - By Supplier:
    - Aftermarkets
    - OEM
  - By Country:
    - Brazil
    - Mexico
    - Argentina
    - Rest of Latin America
- Middle East and Africa
  - By Type:
    - Rear Lightning
    - Front lightning
    - Others
  - By Supplier:
    - Aftermarkets
    - OEM
  - By Country/Region:
    - GCC Countries
    - South Africa
    - Rest of Middle East and Africa

- Frequently Asked Questions -

What is the expected market size of the global all-terrain vehicle (ATV) lighting systems market in 2030?

The global all-terrain vehicle (ATV) lighting systems market is expected to reach US$ 147.65 million by 2030.

What is the expected compound annual growth rate (CAGR) of the market during the forecast period (2022-2030)?

The market is expected to witness a CAGR of 3.5% during the forecast period (2022-2030).

What is the primary factor contributing to the growth of the market?

Increasing popularity of ATV events is expected to drive growth of the market during the forecast period.

Based on Supplier, which segment held the largest market share in the Market in 2021?

OEM sub-segment of the Supplier segment held the largest market share among the Supplier in 2021.

Which region held the largest market share in the market in 2021?

North America held the largest share in the market in 2021.

Who are the key players operating in the market?

Key players operating in the market include Baja Designs, Lazer Star Lights, Nextech Industries, Oracle Lighting, Piaa Corporation, Plasmaglow, Polaris Industries, Vision X USA, Warn Industries, and Xprite.