Automotive Fog Lights Market is Projected to Register Steady CAGR, to Surpass US$ 2,500 Mn in Revenues by 2022-End
According to a latest report by Fact.MR, the global automotive fog lights market is estimated to reach revenues worth US$ 2,130.2 Mn in 2017. The market is projected to register steady CAGR, to surpass US$ 2,500 Mn in revenues by 2022-end.
Fog lights, usually placed at front bottom side of automobiles, offer clear view for drivers to avoid accidents caused by reduced visibility while driving in dense fog or heavy rains. Commercially available in 3 colors – white, blue and yellow, demand for fog lights is increasing on the back of surging production of automobiles globally. Increasing awareness about fog light solutions, soaring developments and technological advancements have sustained growth of the global market for automotive fog light.
6 Estimations from the Global Automotive Fog Lights Market
- White fog lights will continue to remain sough-after in the market, with sales anticipated to exhibit the fastest expansion through 2022. This is mainly attributed to reduction in glares by white fog lights, which in turn enables drivers in better viewing the obstacles on roads. Blue fog lights will remain the second largest color emission type segment, with revenues estimated to account for more than one-fourth market share in 2017.
- Based on positioning type, front fog lights are expected to remain preferred in the market during the forecast period. Sales of front fog lights will surpass US$ 2,000 Mn in revenues by 2022-end. However, adoption of rear fog light are expected to be comparatively lower than front fog lights, with sales poised to register a steady expansion through 2022. Rear fog light sales are estimated to witness a decline in market share between 2017 and 2022.
- Aftermarket will continue to be the largest sales channel in the global automotive fog light market, with sales expected to register the fastest expansion through 2022. Working span of fog lights being limited to few thousand hours, aftermarket tends to be the target for growth opportunity. Fog light sales in OEM are anticipated to exhibit relatively lower CAGR through 2022 than aftermarket.
- By technology, LED fog lights are expected to remain sought-after in the market. LED fog light sales are expected to account for nearly US$ 1,800 Mn by 2022-end. Revenue from LED fog lights is estimated to account for the largest market share in 2017. In terms of sales, halogen fog lights are anticipated to register the lowest CAGR through 2022. In addition, high intensity discharge (HID) are estimated to remain the second largest adopted technology for automotive fog lights in the market throughout the forecast period.
- Asia Pacific excluding Japan (APEJ) will continue to be dominant in the global automotive fog lights market, with sales expanding at the highest CAGR through 2022. North America is expected to remain the second largest market for automotive fog lights. However, demand for automotive fog lights in Middle East & Africa (MEA) is expected to be sluggish throughout the forecast period.
- Key market players profiled in Fact.MR’s report include Flex-N-Gate Corporation, Phoenix Lamps Limited, Robert Bosch GmbH, Warn Industries, Inc., Magneti Marelli S.p.A., Koninklijke Philips N.V., HELLA KGaA Hueck & Co., OSRAM Light AG, General Electric Company, and Valeo SA.
Request Report Sample at https://www.factmr.com/connectus/sample?flag=S&rep_id=30
Posted by
Neha Bhosle
on Thursday August 23 2018, 9:48 AM EST.
All trademarks acknowledged.
Filed under Uncategorized.
Comments and Trackbacks closed.
Follow responses:
RSS 2.0
