Growing Awareness and Importance of Vehicle Safety and Security Is Driving the Check Engine Light Market
Globally, the check engine light market is projected to grow with a CAGR of 5.5% during the forecast period from 2019 to 2027. The check engine light in a vehicle is set up to warn the drivers about problems or issues with the engine. Check engine light is a computerized system that keeps track of the engine and notifies about any malfunctions caused to the engine. It is considered a diagnostic tool that increasingly helps maintain the vehicle's performance, engine speed, and ignition time.
The automotive industry is going through a phase of technological transition where all the systems are connected with computers or an automated electronic system. The modern check engine lights are also automated in a way to notify of the issues with the vehicle. Factors such as increasing safety concerns of cars, technological advancements, and developments in the automotive industry are the primary factors driving the growth of this market. However, factors such as the reliability of the lights and technical issues are likely to affect the growth of the market during the forecast period.
Market Synopsis
Passenger Cars Segment Dominated the Application Market
Based on application, the check engine light market was led by passenger cars, which held around 55% of the overall revenue generated. However, as the number of passenger cars is increasing across the globe, the demand for check engine lights is gradually increasing. Furthermore, the growing importance of the safety of commercial vehicles is expected to enhance the market for check engine lights in commercial vehicles.
North America Dominated the Market by Region
In 2018, North America led the global check engine light market by holding a market share of over 40% of the total revenue generated. Development in the automotive industry, growing adoption of personal as well as commercial vehicles, and stringent regulations regarding road safety of the vehicles are the major factors contributing to the growth of this market. However, Asia-Pacific is projected to grow significantly during the forecast period, based on increasing awareness and changing regulatory policies in the automotive industry.
Some prominent check engine light market players include OSRAM, Yeolight Technology, Hella, Konica Minolta Pioneer, ZKW, Stanley, Astron FIAMM, Magneti Marelli, and Koito.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The check engine light market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global check engine light market based on type, application, and geography. Key segments covered in the report are as follows:
Segmentation Type Segment (2017–2027; US$ Bn)
Intermittent Check Engine Light
Continuous Check Engine Light
Application (2017–2027; US$ Bn)
Passenger Cars
Commercial Vehicles
Geography Segment (2017–2027; US$ Bn)
North America (the U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
Rest of the World (the Middle East & Africa, Latin America)
Unique data points of this report
Statistics on check engine light penetration and spending worldwide
Recent trends across different regions in adopting check engine lights for various applications exist.
Notable developments are going on in the check engine light market
Attractive investment proposition for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
Frequently asked questions :
The market for Check Engine Light Market is expected to reach US$ XX Bn in 2027.
The Check Engine Light Market is expected to see significant CAGR growth over the coming years, at 5.5%
The report is forecasted from 2019-2027.
The base year of this report is 2018.
OSRAM, Yeolight Technology, Hella, Konica Minolta Pioneer, ZKW are some of the major players in the global market.
