Industry Background:
Fogg light is a powerful light for use in cold, rainy, or snowy climatic conditions. It is generally situated low down on the front or rear of a road vehicle. It is best suited for low light conditions. The global automotive fog light market is expected to expand rapidly owing to growth in the automotive industry in the developing economies and technological advancement in lightening technology. Moreover, the growing adoption of adaptive lightning further propelling market growth.This growth is primarily driven by Growing Demand for Premium Segment Vehicles
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Auto Parts & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Hella (Germany), Marelli (Italy), Osram (Germany), Valeo (France), Continental (Germany), Philips (Netherlands), Bosch (Germany), Varroc (India), Hyundai Mobis (South Korea), Koito (Japan), Denso (Japan), North American Lighting (United States), Renesas (Japan), Lumax (India), Aptiv (Netherlands), Grupo Antolin (Spain), Lear Corporation (United States), Keboda (China), NXP (Netherlands) and Gentex (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2018, LG Electronics acquired the leading automotive lighting and headlight systems provider ZKW Group to lead the global lighting sector in autonomous vehicle components. ZKW Group is a high-tech leader in automotive lighting systems with a presence in markets throughout Europe in addition to China, Mexico, and the United States that will complement LG's growing Vehicle Components operations which expects the premium automotive lighting segment to expand faster than traditional auto lighting.
In Sep 2020, Oracle Lighting announced the launch of advance lighting solutions for automotive aftermarket industry. Under this solution the company contains Fog halo kit. Through this initiative the company enhance its market competency.The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new solution launches, and collaborations as their strategies. Key players are exploring new areas through expansions and acquisitions across the world to avail a competitive advantage through combined synergies
Regulatory Insights:
In India according to the RTO, fog lights are allowed in bikes if they are mounted below the headlight, and total power consumption is less or equal to the headlight. However, the user must remember, fog lights always have the yellow beam as they scatter less because of their high wavelength.
Influencing Trend:
Increasing Demand for Adaptive Lighting and Development of New Lightning Technologies
Market Growth Drivers:
Growing Demand for Premium Segment Vehicles and Growth in the Automotive Industry
Challenges:
Increase in Competition from Local Companies and Less Adoption Rate for Commercial Vehicle Segment
Restraints:
High Cost of LED Lights and Volatility of Raw Material Prices
Opportunities:
Increasing Demand for LED fog Light and Growing Demand from the Developing Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Automotive Fog Light Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Automotive Fog Light Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Automotive Fog Light players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Automotive Fog Light Study Sheds Light on
The Automotive Fog Light Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Fog Light industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Fog Light industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.