Automotive Grille illumination Market - Positive long-term growth outlook 2017 – 2025
Automotive grille illumination market is expected to grow with a high CAGR in future because of the kind of style statement it provides apart from its principle operation of letting air inside to maintain the temperature of the vehicle.
Many big brands have used automotive grilles by putting their brand names on it. For example, Jeep has a 7 bar grille style, Rolls Royce grilles are hand designed with such precision that they appear perfectly vertical. Mercedes Benz is known for its famous star sign which is applied on the grille with a LED on the edges which glows. Porsche which is a big manufacturer of air cooled cars has minimized the importance of grilles and are keeping with their heritage.
The pattern and orientation of bars in the grilles are different. Some cars have horizontally or vertically oriented bars while others have the cross-hatched bars pattern. Custom made grilles are also available depending on the choice and demand of the customers.
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Increasing demand for the automobile accessories, growing consumer spending on these products and rising vehicle consumption in the younger generation are the key drivers in increasing the growth of automotive grille illumination products.
The growth of the automobile industry and the increase in the sales of passenger cars, trucks, etc. are further likely to increase resulting in developing opportunities for the automotive grille illumination manufacturers.
The biggest challenge of automotive grille illumination market is the availability of inferior products especially in the Asian regions which has hampered the growth of automobile grille illumination market. Also, cheap alternatives are available in the automotive grille illumination market. People having low disposable income are not willing to spend more on the vehicle accessories, such as automotive grille illumination. This has been the biggest restraint of the automotive grille illumination market.
A lot of automobile manufacturers have set a trend by putting their brand logos on the grilles for making the exteriors of the car look more ravishing which is being followed by almost every automobile manufacturer resulting in an increase in the automotive grille illumination market.
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The automotive grille illumination market is segmented on the basis of the type of grilles, type of illuminations, by sales, type of vehicle, and region.
On the basis of the type of grilles used, the automotive grille illumination market is segmented into Bumper skirts grille, Hood scoop grille, Radiator grille, Fender grilles and Trunk grilles.
On the basis of the type of illumination used, the automotive grille illumination market is segmented into LASER and LED’s.
On the basis of the sales, the automotive grille illumination market is segmented into OEM and Aftermarket.
On the basis of type of vehicle, the automotive grille illumination market is segmented into commercial vehicles, and passenger cars. Commercial vehicles are further segmented into Medium Commercial Vehicle (MCV), Light Commercial Vehicle (LCV), and High Commercial Vehicle (HCV). Similarly, passenger cars are further categorized into large cars, mid-size cars, and compact cars.
On the basis of geographies, the automotive grille illumination market is segmented across 7 key region; North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. Automotive grille illumination market has the highest market share in the developed regions like North America and Europe followed by Latin America. Due to the growing consumption of automobiles and the rising disposable incomes, consumers look for something new and innovative in their vehicles. This has increased the market share of automotive grille illumination in these regions. Apart from providing an excellent speed and fuel efficiency, the look of the automobiles plays an important role. So it is essential to provide the accessories in such a way that it enhances the look of vehicles and automotive grille illumination structures has provided that. Asia Pacific and The Middle East and African countries are in the developing stages and the automotive grille illumination market is expected to grow in future because of the rising disposable income and the growing urbanization.
Few of the major key players active in the automotive grille illumination market include Pecca group Berhad, Lloyd Mats, Star Automotive Accessories, Pioneer Corporation, U.S Auto Parts Network Inc., Classic Soft Trim, Momo Sri, Garmin Ltd
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