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(Transportation-News.com, June 19, 2018 ) Woodridge, USA Jun 2018(News) - The global Automotive Fog Lights market has seen a potential growth over the last few years and it has been anticipated that the market will retain the same growth during the forecast period. The global fog lights market looks very promising due to the major driving factors such as rapidly increasing sales of new vehicles, rising concern over road safety, major development on fog light by key players in emerging economies, shifting preference for aftermarket services and others. Despite these factors, the fog lights market could face some growth challenges during forecast period such as strict government regulation over vehicle and road safety along with no objection certification and increasing pricing pressure. Moreover, the major opportunities that have knocked the doors for automotive fog lights manufacturers is that increasing preferences for fog lights among huge vehicles users for safety as well as aesthetic appeal coupled with rising disposable income in emerging economies. As per MRFR analysis, the global automotive fog lights market is expected to grow at a CAGR of 6.9% during the forecast period, where the market value is projected to reach USD 3,928.5 million by 2023 from USD 2,475.3 million in 2016.
Furthermore, in the global automotive fog lights market, it has been experienced that there has been a substantial increase in sales of new vehicles that has fuelled the demand and growth of automotive fog lights market. 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 responsible for the increase in 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 9.38 million.
Key Players
The key players of automotive fog lights market includes
General Electric (U.S.),
Magneti Marelli (Italy),
Stanley Electric Co. Ltd (Japan),
HELLA KGaA Hueck & Co (Germany),
OSRAM GmbH (Germany),
Valeo S.A. (France),
Warn Industries, Inc (U.S.),
Autolite (India) Ltd (India),
PIAA Corporation (U.S.)
J.W. Speaker (U.S.).
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Table of content:
1 Executive Summary
2 Introduction
3 Research Methodology
4 Market Dynamics
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5 Market Factor Analysis
6 Global Automotive Fog Lights Market, By Technology
7 Global Automotive Fog Lights Market, By Vehicle Type
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8 Global Automotive Fog Lights Market, By End Market
9 Global Automotive Fog Lights Market, By Region
10 Competitive Landscape
11 Company Profiles
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