Press release
Automotive Daytime Running Lamps Market Expecting Worldwide Growth by 2026
Automotive daytime running lamp (DRL) is a part of automotive lighting system. Automotive daytime running lamps were mainly developed to increase visibility of a vehicle in daylight hours to curb daytime road accidents. It emits white, yellow or amber light to increase the visibility of the vehicle during daytime. The daytime running lamp are automatically switched on when the vehicle is in a motion. Number of countries have mandated or permitted the use of DRLs in the vehicles, which have enhanced the market for automotive daytime running lamp. Automotive daytime running lamps market has shown a growth in the past few years and is projected to show a significant growth over the forecast period.
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Automotive Daytime Running Lamps Market Dynamics
The automotive daytime running lamps market is driven by increasing vehicle production & sales, safety concerns, and technological advancements. The technology advancement in the field of safety and security is expected to fuel the demand of automotive daytime running lamps market throughout the forecast period. The daytime running lamps equipped with LED (Light Emitting Diodes) light source are the most recent technology used in the automobile industry as LED light source is more energy efficiency than the conventional light source that is halogen. Despite of the various growth drivers, there are some challenges faced by the market such as expensive price of LED and high development costs. The advantages of global LEDs lights over traditional lights are low voltage, durable, zero UV emission, flexible designs, eco-friendly, and long life.
Automotive Daytime Running Lamps Market Segmentation
The global automotive daytime running lamps market is segmented on the basis of technology, vehicle type, and region. The global automotive daytime running lamps market is segmented on the basis of technology as: Halogen and LED. On the basis of vehicle type, the global automotive daytime running lamps market is segmented into: passenger car, light commercial vehicle, and heavy commercial vehicle. The market for daytime running lamp is estimated to be highest for passenger car in 2015 and it is anticipated that the market for passenger cars remain same for the forecast period. The global automotive daytime running lamps market is segmented on the basis of region as: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific exc. Japan (APEJ), Japan, and Middle East & Africa (MEA).
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Automotive Daytime Running Lamps Market: Regional outlook
In terms of geography, the automotive daytime running lamps market has been divided in to seven key regions including North America, Latin America, Western Europe, Eastern Europe, Japan, Asia-Pacific excluding Japan (APEJ), and Middle East & Africa. The global automotive daytime running lamps market is expected to register healthy CAGR during the forecast period. North America is anticipated to be the dominant market for automotive daytime running lamps market followed by Europe and Asia Pacific. Factors such as increase in the adoption of daytime running lamps as they are mandated and permitted by government agencies along with an increase in vehicle production & sales and rising safety & security system per vehicle, are fuelling the demand for automotive daytime running lamps market globally.
Automotive Daytime Running Lamps Market Key Players
The major players identified across the value chain of global automotive interior ambient lighting systems market include Hella KGaA Hueck & Co., Koito Manufacturing Co. Ltd., Magneti Marelli S.p.A, Valeo SA, Ichikoh Industries Ltd., Stanley Electric Co., Ltd., and ZIZALA Lichtsysteme among others. Major light source suppliers are Koninklijke Philips N.V., General Electric, and Osram GmbH. The automotive lighting companies work closely with OEMs to provide customized daytime running lamps as per the OEMs requirements to match the design of the vehicle.
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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