The global vehicle mounted spotlights market is set to observe a sizeable growth rate of over 4% in the coming decade. In the past years, this market grew at a modest pace of 3.5%, owing to declining demand from the automobile industry. However, advancements in technology and adoption of LED-based vehicle mounted spotlights have augmented market growth. In the coming decade, widespread adoption of wireless control vehicle mounted spotlights by leveraging manufacturing practices to come up with snazzy products will complement market expansion. Also, all-weather-proof rugged spotlights that can be used in challenging surroundings are predicted to drive the market.
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As per Fact.MR analysis, the global vehicle mounted spotlights market will progress at a steady rate to close in on a valuation of US$ 1 Bn by the end of 2030.
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Vehicle Mounted Spotlights Market: Segmentation
Fact.MR has studied the vehicle mounted spotlights market with detailed segmentation on the basis of light source, wattage, lumens, control type, module shape, end use, sales channel, and key regions.
- Below 25 W
- 25-50 W
- 50-100 W
- 100-150 W
- Above 150 W
- Below 2500 Lumens
- 2500-5000 Lumens
- 5000-10000 Lumens
- Above 10000 Lumens
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Expansion of Product Portfolio by Key Players
Key players such as Golight Inc. and Larsen Electronics are focusing on product launches, and in 2019, launched several advanced products to cope up with the rising need for advanced vehicle mounted spotlights. Expansion of portfolio of offerings, including restructuring and revamping of distribution channels, is predicted to significantly impact growth in the market. This is also remunerative in preserving healthy client relations and expanding the clientele base across different regions.
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