(MENAFN- America News Hour) A recent report published by research nester titled“Automotive Fog Lights: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global automotive fog lights market in terms of market segmentation by technology, by vehicle type, by lamp position, by adoptive lighting method, by color emission by channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
The global automotive fog lights market is segmented by technology, vehicle type, lamp position, adoptive lighting method, color emission, channel and by region. Based on technology, it is sub-segmented into xenon, halogen and LED. The market is further segmented by vehicle type into passenger car, light commercial vehicle and heavy commercial vehicle; lamp position into rear and front; adoptive lighting method into front side bending, cornering, auto on-off, leveling of headlamp and high beam; color emission into white, blue and yellow.
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Based on channel, the market is sub-segmented into aftermarket and original equipment manufacturer, out of which, the original equipment manufacturer segment is expected to capture the highest market share on account of increasing production of automobiles across the globe.
The automotive fog lights market is anticipated to expand at CAGR of 9.4% during the forecast period i.e. 2019-2027. Rising production and sales of new vehicles coupled with the rise in purchasing power of individuals is supporting the growth of the market. Further, the growth in aftermarket on the back of limited lifespan of fog lights or need of changing fog lights on frequent basis in the vehicles is expected to affect the growth of market.
Geographically, the global automotive fog lights market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the hub of automotive manufacturing across the globe, Asia-Pacific is anticipated to dominate the market of automotive fog lights on the back of increasing sales of vehicles in the region.
Due to the stringent policies, the fog lights are now provided as a necessary accessory in the mid-range passenger vehicles which is also among the major reasons behind the leading market share in Asia Pacific region.
Rising Demand for Passenger Vehicles
Growing production and sales of new vehicles and increase in purchasing power of the people along with rising demand for fog lights in aftermarket are some of the major factors that are anticipated to drive the market of fog lights during the forecast period.
However, lack of awareness regarding security features of fog lights and poor affordability of individuals to purchase them are anticipated to hinder the growth of the market.
This report also provides the existing competitive scenario of some of the key players of the global automotive fog lights market which includes company profiling of key companies such as:
Guangzhou Ledoauto Company Ltd., Hyundai Mobis, Zizala Lichtsysteme GMBH, General Electric, Magneti Marelli S.P.A, Hella Kgaa Hueck & Co., Blazzer international, Warn industries, Inc., Osram GMBH, PIAA corporation, Royal Philips Electronics, Sammoon Lighting & Electrical Co. Ltd., Nokya, Valeo S.A.
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The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive fog lights market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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