Automotive Fog Lights Market Competitor Landscape, Growth, Opportunity Analysis, Trends & Forecast to 2030

 

Market Highlights:

The Global Automotive Fog Lights Market Revenue is forecast to reach USD 3,928.5 million in 2023 with a CAGR of 6.92% during the forecast period.

Since 2008, the world has entered into a new era with about half of the population living in cities. This improved lifestyle had led to increase in urbanization, which has resulted in the development of a set of paradigms for both personal and commercial transportation. The increase in urbanization will lead to an increase in use of passenger and commercial vehicles, due to which there will be growth in the automotive fog lights market. China is one of the most densely populated urban centre. The automotive market of China has experienced increased growth, which will drive automotive technology.

Market Research Future Analysis:

On the vehicle type, the market is bifurcated as passenger car, light commercial vehicle and heavy commercial vehicle. Passenger car segment expected to witness highest growth in global automotive fog lights market with share of around 63% in 2016. The growing sales of passenger cars is significantly boosting the market. Light commercial vehicles accounted the second largest share in 2016. The major factors driving the market for light commercial vehicles is the increasing demand for pickup trucks, vans and others for commercial purpose.

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Key Players:

The key players of the global automotive fog lights 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.).

Scope of the Report:

This study provides an overview of the market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Asia-Pacific, North America, Europe and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the market by its technology, by vehicle type, by end market and regions.

By Technology

• Halogen
• LED
• HID

By Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle

By End Market

• OEM
• Aftermarket

By Region

• Asia Pacific
• North America
• Europe
• Rest of World

Regional Analysis -

Currently, Asia Pacific (APAC) is the leading market and has accounted for the largest share for the 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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