Automotive Fog Lights Market Research Report – Global Forecast to 2023. Market Research Future published a cooked research report on automotive fog lights market. The global automotive fog lights market revenue is forecast to reach USD 3,928.5 million in 2023 with a CAGR 6.92% in the forecast period. 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
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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.AA. (France), Warn Industries, Inc. (U.S.), Autolite (India) Ltd. (India), PIAA Corporation (U.S.) and J.W. Speaker (U.S.).
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.
Based on end market, it is segmented as OEM and Aftermarket. Most of the automotive manufacturers purchase automotive Fog Lights from the OEMs and after that they assembles it into the automotive manufacturers. At the time of replacements or maintenance, most of the end users prefer to go for OEM rather than aftermarket. Thus, OEM accounted the largest market share in 2016. Aftermarket is the second leading market for global automotive fog lights market by end market. Aftermarket is generally the secondary market for automotive concerned with manufacturing, distribution, retailing and installation of vehicle parts.
Currently, Asia-Pacific is the leading market and has accounted for largest share for automotive fog lights market followed by North America and Europe. Major factors that have driven the automotive fog lights market are 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.
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