Automotive Fog Lights Market Synopsis and Highlights, Key Findings, Major Companies Analysis and Forecast to 2023

Global Automotive Fog Lights Market, By Technology (Halogen, LED and HID), By Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), By End Market (OEM and Aftermarket) and Region - Forecast 2017-2023

Market Highlights:

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 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 the automotive technology.

The global Automotive Fog Lights Market has been experiencing substantial growth in recent years primarily due to sales of new vehicles. The increase in the sales of new vehicles has mainly been because of competitive and diverse options available for finance. The availability of finance has eased the purchase of vehicles, which in turn has increased the demand for fog lights in automotive industry. Another factor driving the vehicle sales, is the macroeconomic development and the rise in the global middle class consumers. According to OICA, the sales of new vehicles have been increased from 2013 to 2016. In 2013, the number of vehicle sold were 85.6 million while in 2016 it was 93.8 million.

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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.

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.).

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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

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This release was published on openPR.