The global market of LED side marker lights and forcast from 2022 to 2030

The global LED side marker lights market volume is estimated to be USD 1.13 Billion in 2022 and is expected to reach USD 1.48 Billion by 2030, at a CAGR of 4.5% from 2022 to 2030. The growth of the LED side marker lights market arises from the increasing demand for passenger vehicles and commercial vehicles around the world.

The LED side marker lights for passenger vehicle held the largest market share of over 80.0% in 2022. Enhanced visibility and improved aesthetic appeal by LED side marker lights fosters the growth of led marker light market. Another rising marker light market in commercial vehicle applications is expected to follow the suit. In some Asian countires such as China, Vietnam, underway commercial infrastructure development requires many heavy-duty trucks and trailers that need LED side market lights to enhance road safety.

The Asia Pacific will be the largest and fastest-growing region in terms of led side marker light market. The market growth arises from increasing sales of passenger vehicles in countries such as China, India, Japan, and South Korea. Also, rising income and a growing preference for luxury cars will make more market requirements for LED marker lights. Europe covers over 25% of the global market share as per market volume and total revenue. Moreover, safety features available in modern vehicles have attracted more consumers to choose advanced lightings such as LED marker lights or other led warning lights for their cars.

The major players in the market of led side marker lights adopt market acquisitions to strenthen their stand on the market. These companies are investing heavily to expand their product portfolios and stay competitive in the market.

Some of the companies that are profiled on global market are:

Hella
Magneti Marelli
Valeo
Philips
OSRAM
Koito
Stanley Electric
ZKW Group
Peterson Manufacturing Company
Maxxima