Automotive Fog Lights Market 2022 Latest Insights, Growth Rate, Future Trends, Outlook and Business Opportunities to 2030
Research Reports
Apr 07, 2022
Automotive Fog Lights Market Overview:
According to the analysis studies, the worldwide Automotive Fog Lights Market is expected to grow at a CAGR of 6.55%, with a value of USD 39.77 billion over the forecasting period of 2026.
The automobile industry is currently facing a technological revolution defined by combining new technologies and conventional car manufacturing. With the growing popularity of electric cars, automotive lighting manufacturers are exploring new lighting technologies to replace traditional lights. Manufacturers of electric vehicles are introducing new car models with the greatest cabin interiors. The demands for safety, collaboration, relaxation, and appearance will drive future interior lighting improvements.
Overhead lights are becoming increasingly popular. They mostly consist of reading lights and dashboard lights. Interior lighting encompasses various applications such as reading lamps, ambient interior lighting systems, and roof modules with optimum light guiding technology. Furthermore, the adaptive lighting system is expanding at a good rate, even though its demand remains significantly lower than that of LED lights. Vehicle manufacturers are very interested in introducing LED lights into their cars since they use less electricity and last longer than halogen lights.
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LED lights are also more durable and strong, contain strong light-emitting diodes, and exceed all other kinds of lighting system. As the number of Covid-19 illnesses increases over the world, the limits on numerous developments in the vehicle for lighting market grow. As the global economy faces challenges with pandemic conditions, there are distinctive effects on the worldwide trade and e-commerce network, as indicated by the rapid suffering of global channels for automated fog light market sectors.
Automotive Fog Lights Market Key Players
PIAA Corporation (U.S.), Magneti Marelli (Italy), General Electric (U.S.), Stanley Electric Co. Ltd. (Japan), HELLA KGaA Hueck & Co (Germany), Valeo S.A. (France), Warn Industries, Inc. (U.S.), Autolite (India) Ltd. (India), OSRAM (Germany), and J.W. Speaker (U.S.) are some reputed names in the automotive fog lights market, as listed by MRFR.
Automotive Fog Lights Market Segmentation
By technology, it is segmented into HID, LED, and halogen. The LED segment is expected to dominate the market owing to emphasis on style and range of mounting brackets developed to cater to all types of vehicles.
By vehicle Type, it is segmented into heavy commercial vehicle, light commercial vehicle, and passenger vehicle.
Based on end market, it is segmented into OEM and aftermarket. Most of the automotive manufacturers purchase automotive fog Lights from OEMs get it assembled from automotive manufacturers. At the time of replacements or maintenance, most of the end users prefer to go for OEM rather than aftermarket. Thus, OEM accounted the largest market share in 2016. Aftermarket is the second leading market for global automotive fog lights market by end market. It can gain momentum owing to awareness of fog lights and developments in extending life cycle of fog lights.
Automotive Fog Lights Market Regional Analysis
Currently, Asia Pacific (APAC) is the leading market and has accounted for largest share for automotive fog lights market followed by North America and Europe. The development of automotive hubs in the region and procurement of commercial and passenger vehicles can drive the regional market demand for automotive fog lights. Other factors driving the automotive fog lights market are rapidly increasing sales of new vehicles, rising concern over road safety, major development on fog light by key players in emerging economies, shifting preference for aftermarket services and others. Recently, Maruti Suzuki launched the newest iteration of Vitara Brezza installed with LED fog lights and large scuff plates.
North America is expected to capture a large market share till the end of the forecast period owing to sales of commercial and passenger vehicles. Rise in urbanization and development of towns and cities can influence the installation of fog lights in latest vehicles and propel market demand.
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Industrial News:
OSRAM Continental and REHAU established development cooperation for the merging of external devices with light in May 2021, intending to provide automobile suppliers with innovative lighting solutions with greater flexibility in design and performance.
Valeo approved introducing the first 360° lighting system at the April 2021 Shanghai Auto Show. The system surrounds the vehicle with a band of light, projecting clear, simple, and immediate signs that other road users may see, particularly sensitive road users such as cyclists and those riding scooters and motor scooters.
1 Executive Summary
2 Introduction
2.1 Definition 14
2.2 Scope Of The Study 14
2.3 Assumptions 14
2.4 Market Structure 15
3 Research Methodology
3.1 Research Process 16
3.2 Primary Research 17
3.3 Secondary Research 17
3.4 Market Size Estimation 17
3.5 Forecast Model 19
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