According to Automotive Fog Lights Market 2019 Global Industry Analysis To 2023, report on “Global Automotive Fog Lights Industry” published by Market Research Future, The Global Automotive Fog Lights market expected to rise at a CAGR of 6.92% by 2023.
— Automotive Fog Lights Market 2019 Global Industry Analysis To 2023, report on “Global Automotive Fog Lights Industry” published by Market Research Future. Global Automotive Fog Lights Market Information by Technology (Halogen, LED and HID), Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), End Market (OEM, Aftermarket), Region – Forecast till 2023.
Major Automotive Fog Lights Companies covered in the market report include 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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Global Market Highlights:
Global Automotive Fog Lights market has seen remarkable growth; expected to rise at a CAGR of 4.40% and reach Reach $3,928.5 Million by 2023. Fog Lights 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.
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. The increase in urbanization will lead to an increase in use of passenger and commercial vehicles, due to which there will be growth in automotive fog lights market. China is one of the most densely populated urban centers. The automotive market of China has experienced increased growth, which will drive the automotive technology.
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.
The scope of the study segments the market by its technology, by vehicle type, by end market and regions.
By Vehicle Type
Light Commercial Vehicle
Heavy Commercial Vehicle
By End Market
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.
Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
List of Tables:
TABLE 1 GLOBAL AUTOMOTIVE FOG LIGHTS MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 30
TABLE 2 GLOBAL AUTOMOTIVE FOG LIGHTS MARKET, BY VEHICLE TYPE, 2015-2023 (USD MILLION) 33
TABLE 3 GLOBAL AUTOMOTIVE FOG LIGHTS MARKET, BY END MARKET, 2015-2023 (USD MILLION) 37
TABLE 4 GLOBAL AUTOMOTIVE FOG LIGHTS MARKET, BY REGION, 2015-2023 (USD MILLION) 40
TABLE 5 NORTH AMERICA AUTOMOTIVE FOG LIGHTS MARKET, BY COUNTRY 2015-2023 (USD MILLION) 42
List of Figures:
FIGURE 1 RESEARCH PROCESS OF MRFR 16
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 18
FIGURE 3 IMPACT ANALYSIS: MARKET DRIVERS 20
FIGURE 4 SALES OF NEW VEHICLE, 2013-2016 21
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS 22
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS 24
FIGURE 7 VALUE CHAIN ANALYSIS 26
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