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Global Automotive Fog Lights Market Size, Share, Growth, Analysis Forecast to 2023

Mar 13th 2020 at 12:52 AM

In efforts to reduce road accidents attributed to poor visibility during worse weather conditions such as fog and downpour, the automobile manufacturers are refurbishing their conventional lighting in vehicles by enhancing them with various techniques. In the instance of fast-paced growth in the automotive industry and growing purchasing power of middle-class income, the automotive fog lights market is set to proliferate an impressive growth at a CAGR of 6.92% by 2023. It is also estimated that the market is on the verge to gain a valuation of USD 3,928.5 million by the same year. Market Research Future Reports has gathered the market analysis and has also informed with the market’s latest trend & drivers, challenges, opportunities, key market players and more.

The fog lights are one of the most necessary parts in a vehicle as they are used for clear visibility in darkness and helps in viewing the better road condition in darkness. These lights are mainly placed at the bottom of the headlights and mounted on bumpers.

The demand for automotive fog lights will escalate in the years to come as people are getting strongly aware of the benefits gained by adaptive fog lights, which in turn, is raising substantial requirements from the automotive fog light market. Therefore, to enhance the life expectancy of fog lights along with its efficacy, the key manufacturers are making deliberate attempts in automotive fog light market to spread the products and save lives of the people on roads.

 

Browse Report @ https://www.marketresearchfuture.com/reports/automotive-fog-lights-market-3685

 

Global Automotive Fog Lights Market Drivers & Trends

In the current time, several government regulations and policies are restricting for the use of automotive fog lights among the drivers which are adversely affecting the growth of automotive fog lights market. New technologies are also being introduced such as SafeBeam, which enables even light emission of fog lights. This is effective as the light dispersers directly on the roads rather than on other driver’s eyes. By this, a lot of fatal road mishaps can be delayed or stopped, and life could be saved.

Besides such groundbreaking innovations, the contemporary automotive lights are also known for providing expanded durability and more features such as shock and vibration resistance. After such product refurbishments, the leading manufacturers are also working efficiently by offering other variations in fog lights which could help the drivers to drive smoothly on roads. The fog lights are available in different lights such as white, yellow, and blue light. Hence, automotive fog lights remain intricately decisive for enhanced functionalities and greater adoption. These factors are tremendously taking the global automotive fog lights market towards a thriving that would bring more opportunities in the future timeline.

Furthermore, with the global economy is rising with an unprecedented shift in customer’s interest and requirements, developed countries such as China, India, Thailand, and Indonesia are becoming the manufacturing hubs for automotive fog lights. As a result of which, more and more people are purchasing cars that are technologically proven regarding safety and lifesaving tools. On this, the leading global automotive players such as Volkswagen, BMW, Toyota, and Ford, among others have entered in new emerging markets for business expansion and providing high intensified fog lights in their models. Therefore, as the global auto-manufacturers continue to expand with innovative technologies, the demand for automotive fog lights will also escalate in the years to come, which in turn, will raise the global automotive fog lights market to spur exponentially.

More precisely, the factor of affordability of automotive fog lights could also obstruct the revenue growth of automotive fog light market. With that, lack of awareness about safety suggestions, low usage of automotive fog lights in severe conditions could hamper the growth of automotive fog light market.

Automotive Fog Lights Market Segmentation

In the reports of MFRF, the global automotive fog lights market segmentation has been done on the basis of technology, vehicle, end market, and by region.

By the segmentation of technology, the market consists of halogen, LED, HID.

By the segmentation vehicle type, the market consists of passenger car, light commercial vehicle, and heavy commercial vehicle.

By the segmentation of the end market, the market consists of OEM and aftermarket. Several automotive manufacturers purchase automotive fog lights from the OEMs, and after that, they assemble it into the automotive manufacturers. Thus, OEM has accounted for the largest market share in 2016 whereas, the aftermarket is the second substantial market holder for global automotive fog lights market by end market.

Regional Outlook

Presently, Asia-Pacific is being the leading market in automotive fog lights market and has accounted for the largest share for this market. Some of the significant factors that have driven the automotive fog lights market are a rapid increase in sales of new vehicles, mounting concern over road safety, continuous development over fog light by crucial manufacturers and shifting preference for aftermarket services and more.

Furthermore, a good market share is also estimated from the regions of North America and Western Europe in the coming years due to the swelling automotive sector, and the safety awareness in the Middle East and Africa regions. These are expected to have a significant market growth in the future years.

Key players

The major player operating in the market are General Electric (U.S.), Magneti Marelli (Italy), Stanley Electric Co. Ltd. (Japan), HELLA KGaA Hueck & Co (Germany), OSRAM (Germany), Valeo S.A. (France), Warn Industries, Inc. (U.S.), Autolite (India) Ltd. (India), PIAA Corporation (U.S.) and J.W. Speaker (U.S.).

 

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