Automotive Daytime Running Lights Market Deep Analysis 2020 to 2026: Industry Share, End-Users, Segmentation and Regional Outlook (KOITO MANUFACTURING CO., LTD., TANLEY ELECTRIC CO., LTD., Marelli Holdings Co., Ltd)

The Automotive Daytime Running Light Market is segmented by type, by application type and by geographic coverage. The type is further segmented into traditional lighting, LED lighting and other lightings. The LED lighting segment holds the largest share in the global market owing to the rapid adoption of advanced technology by the automotive industry.

The DRLs are automatically switched on when the vehicle is in a motion. Various countries across the globe have made it mandatory to install DRLs in vehicles to curb the rising fatalities and enhance the safety of passengers and driver. Moreover, the rapid technological advancement in the automotive industry is propelling the automotive daytime running light market.

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This development has changed the preference of the consumers from traditional lights to more efficient, durable and trendy HID (High Intensity Discharge) and LED (Light Emitting Diode) lights. Furthermore, the increasing production and sales of automobiles and also the rising demand for electric vehicles is ultimately creating high demand for daytime running lights across the world.

The OEM companies are developing DIY DRL kits for the consumers to install it by themselves. These kits are cost-effective and also easy to install. For instance, Philips has developed DIY DRL kits to ease the installation process. Also, the rise in the sales and production of automobiles across the globe is driving the automotive daytime running light market at a faster pace. However, the high cost of LED lights may restrain the growth of the global market in the forecast period.
Automotive daytime running light DRL is a vital component of the vehicle lighting system. The DRLs are mainly used to increase the visibility at daytime as well as enhance safety, comfort and give a stylish appearance to the vehicles. The integration of DRLs in vehicles also reduces the number of road accidents in daytime. They include signalling and lighting devices situated in the front, sides, and rear of a vehicle.

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Drastic Aviation Budget Cuts Owing to COVID-19 will Hamper Growth
There will be drastic aviation budget cuts during the post COVID-19 phase from the aircraft owners and airlines in prominent countries, such as Australia, China, Russia, Germany, France, the U.K., and the U.S. Also, the demand for spare parts would reduce between 2020 to 2021. Overall, the market will be severely affected. We are providing elaborate reports consisting of significant factors that may affect growth. Our analysts are conducting extensive research to help you find the best strategy for intensifying sales.

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Top Manufacturers of Automotive Daytime Running Lights Market are:
• Valeo SA,
• KOITO MANUFACTURING CO., LTD.,
• TANLEY ELECTRIC CO., LTD.,
• Marelli Holdings Co., Ltd.,
• HELLA GmbH & Co. KGaA,
• ZIZALA Lichtsysteme,
• ICHIKOH INDUSTRIES, LTD.
• among others.

Striking Technological Advancements to Open Multiple Growth Avenues
The increasing adoption of [include secondary keyword] for applications across diverse industries will aid the growth of the market in the upcoming years. Recent advances in structure and design have opened up massive potential for rapid product adoption. The advances in engineering, in terms of product design and structure, will not only benefit the companies but will have a direct impact on the Automotive Daytime Running Lights Market growth in the coming years. Moreover, rising investment in the research and development in different technologies will further favour the activities of the companies operating in this market.

The Eruption of COVID-19 Pandemic to Stall Market Growth
The growth of the Automotive Daytime Running Lights Market Size is expected to be negatively impacted by the COVID-19 pandemic. The declining Automotive Daytime Running Lights Industry growth is primarily attributable to the travel restrictions imposed by governments worldwide to contain the spread of the virus. Apart from this, the unprecedented economic downturn triggered by the coronavirus has forced countries, especially developing nations, to prioritize their spending, which in turn is likely to impede upcoming investments in this sector. Together, these factors will create unfavourable conditions for this Automotive Daytime Running Lights market analysis in the short-term.

North America to Hold Commanding Position; Growing Product Adoption to Aid Growth
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Rest of the World South America and The Middle East & Africa will witness considerable growth in the coming years driven by the steadily increasing product adoption in several countries across this region. The strong presence of several large scale companies, coupled with the emphasis on enhancing existing products will further aid the growth of the regional market. As of 2019, the market in Europe, Canada, America, Asia pacific was worth USD and this value is likely to increase further in the coming years

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Segment-
Narrow Body Aircraft Segment to Grow Rapidly Backed by Cost-effective Operations
Based on type, the Automotive Daytime Running Lights Industry is segregated into region aircraft, wide-body aircraft, and narrow-body aircraft. Out of these, the narrow-body aircraft is generated 64.0% in terms of Automotive Daytime Running Lights market share in 2019 and would grow rapidly throughout the forthcoming years. This would occur because of the rising demand for such aircraft from various airlines owing to their ability to provide cost-effective operations and high passenger-carrying capacity. Also, increasing air traffic would contribute to growth.

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