A Daytime Running Lights Market is expected to reach US$ 1468.2 Mn by 2029, at a CAGR of 3.5% during the forecast period.Daytime Running Lights Market Overview
Daytime running lights are used to increase the visibility of a vehicle in daytime hours to control daytime road accidents. The advancement in technology and shift in preference of consumers to use daytime running lamps are expected to drive the growth of daytime running lights globally. According to the National Highway Traffic Safety Administration (NHTSA) of the US, daytime running lights have reduced deadly road accidents by approximately 13.7% this is expected to influence the daytime running lights industry globally. The report covers the detailed analysis of the global daytime running lights industry with the classifications of the market based on type, application, and region. Analysis of past market dynamics from 2018 to 2022 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.To know about the Research Methodology :- Request Free Sample Report The report has profiled key players in the market from different regions. However, the report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation of market size. The manufacturing environment in each region is different and focus is given to the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed.
Daytime Running Lights Market Dynamics
The government’s regulations for safety concerns, increasing vehicle production & sales, and technological advancements are expected to drive the growth of the daytime running lights market globally. Also, growth in the automotive sector and increasing private equity investments in automotive lighting companies are the factors driving the growth of the global daytime running lights market during the forecast period. Similarly focus of companies on developing cost-effective daytime running lights are increasing to enhance the projection, which is expected to drive the growth of the daytime running lights Market during the forecast period. The growth of the daytime running lights is expected to hamper due to fluctuations in the cost of raw materials, a slump in automotive production and sales, and regulations in the automotive lighting industry over the forecast period.Segmentation Analysis
By Type, the daytime running lights market is segmented into HID, LED, and halogen. Among these LED segment is expected to dominate the market globally due to change in the preference of the consumers from standard lights to LED (Light Emitting Diode) and HID (High-Intensity Discharge) lights. The LED lights are energy-efficient, longevity, and have styling features which are the creating possibilities for efficient daytime running light solutions during the forecast period.By Application, Passenger vehicles account for the largest share of the market due to the increase in the sale of passenger vehicles globally. An increase in demand for advanced features, rise in the standard of living, increasing purchasing power capacity, rise in per capita income of individuals, increasing industrialization, changing way of life, and high disposable income is some of the factors for the growth in the Passenger vehicles of the market during the forecast period. The Asia Pacific is expected to hold the largest share of the market during the forecast period due to continuously growing urbanization. Developing countries like India and China are witnessing growth in the market due to an increase in the sale of vehicles, which in return is expected to drive the growth of the market during the forecast period in that region. Similarly, the demand for electric and luxurious vehicles in the developed countries is growing. Thus it is expected to drive the growth of the market during the forecast period in that region.
Daytime Running Lights Market Scope: Inquire before buying
Daytime Running Lights Market Base Year 2022 Forecast Period 2023-2029 Historical Data CAGR Market Size in 2022 Market Size in 2029 2018 to 2022 3.5% US$ 1153.9 Mn US$ 1468.2 Mn Segments Covered by Type HID LED Halogen by Application Passenger vehicles Commercial vehicles by Position Front Rear Side Interior by Sales Channel OEM Aftermarket Regions Covered North America United States Canada Mexico Europe UK France Germany Italy Spain Sweden Austria Rest of Europe Asia Pacific China S Korea Japan India Australia Indonesia Malaysia Vietnam Taiwan Bangladesh Pakistan Rest of APAC Middle East and Africa South Africa GCC Egypt Nigeria Rest of ME&A South America Brazil Argentina Rest of South America Key Players are:
1.Advanced Lighting Technologies Inc. (US) 2.Biketronics Inc. (Russia) 3.Custom Dynamics(r) 4.Custom LED LLC (US) 5.Federal-Mogul Corporation (US) 6.Flextronics International (Singapore) 7.Hella KGaA Hueck & Co. (Germany) 8.Changchun Hella Automotive Lighting Co., Ltd (China) 9.Ichikoh Industries Ltd. (Japan) 10.Koito Manufacturing Co. Ltd 11.Magneti Marelli S.p.A 12.Valeo SA 13.Stanley Electric Co., Ltd 14.ZIZALA Lichtsysteme 15.Continental (Germany) 16.Philips (Netherlands) 17.Bosch (Germany) Frequently Asked Questions: 1. Which region has the largest share in Global Daytime Running Lights Market? Ans: Asia Pacific region holds the highest share in 2022. 2. What is the growth rate of Global Daytime Running Lights Market? Ans: The Global Daytime Running Lights Market is growing at a CAGR of 3.5% during forecasting period 2023-2029. 3. What segments are covered in Global Daytime Running Lights market? Ans: Global Market is segmented into, Type, Application and Region. 4. Who are the key players in Global Daytime Running Lights market? Ans: The important key players in the Global Market Advanced Lighting Technologies Inc. (US),Biketronics Inc. (Russia),Custom Dynamics(r),Custom LED LLC (US),Federal-Mogul Corporation (US),Flextronics International (Singapore),Hella KGaA Hueck & Co. (Germany),Changchun Hella Automotive Lighting Co., Ltd (China),Ichikoh Industries Ltd. (Japan). 5. What is the study period of this market? Ans: The Global Daytime Running Lights Market is studied from 2022 to 2029.
1. Global Daytime Running Lights Market: Research Methodology 2. Global Daytime Running Lights Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Daytime Running Lights Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Daytime Running Lights Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Daytime Running Lights Market Segmentation 4.1 Global Daytime Running Lights Market, by Type (2022-2029) • HID • LED • Halogen 4.2 Global Daytime Running Lights Market, by Application (2022-2029) • Passenger vehicles • Commercial vehicles 4.3 Global Daytime Running Lights Market, by Position (2022-2029) • Front • Rear • Side • Interior 4.4 Global Daytime Running Lights Market, by Sales Channel (2022-2029) • OEM • Aftermarket 5. North America Daytime Running Lights Market(2022-2029) 5.1 North America Daytime Running Lights Market, by Type (2022-2029) • HID • LED • Halogen 5.2 North America Daytime Running Lights Market, by Application (2022-2029) • Passenger vehicles • Commercial vehicles 5.3 North America Daytime Running Lights Market, by Position (2022-2029) • Front • Rear • Side • Interior 5.4 North America Daytime Running Lights Market, by Sales Channel (2022-2029) • OEM • Aftermarket 5.5 North America Daytime Running Lights Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Daytime Running Lights Market (2022-2029) 6.1. European Daytime Running Lights Market, by Type (2022-2029) 6.2. European Daytime Running Lights Market, by Application (2022-2029) 6.3. European Daytime Running Lights Market, by Position (2022-2029) 6.4. European Daytime Running Lights Market, by Sales Channel (2022-2029) 6.5. European Daytime Running Lights Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Daytime Running Lights Market (2022-2029) 7.1. Asia Pacific Daytime Running Lights Market, by Type (2022-2029) 7.2. Asia Pacific Daytime Running Lights Market, by Application (2022-2029) 7.3. Asia Pacific Daytime Running Lights Market, by Position (2022-2029) 7.4. Asia Pacific Daytime Running Lights Market, by Sales Channel (2022-2029) 7.5. Asia Pacific Daytime Running Lights Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Daytime Running Lights Market (2022-2029) 8.1 Middle East and Africa Daytime Running Lights Market, by Type (2022-2029) 8.2. Middle East and Africa Daytime Running Lights Market, by Application (2022-2029) 8.3. Middle East and Africa Daytime Running Lights Market, by Position (2022-2029) 8.4. Middle East and Africa Daytime Running Lights Market, by Sales Channel (2022-2029) 8.5. Middle East and Africa Daytime Running Lights Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Daytime Running Lights Market (2022-2029) 9.1. South America Daytime Running Lights Market, by Type (2022-2029) 9.2. South America Daytime Running Lights Market, by Application (2022-2029) 9.3. South America Daytime Running Lights Market, by Position (2022-2029) 9.4. South America Daytime Running Lights Market, by Sales Channel (2022-2029) 9.5. South America Daytime Running Lights Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Advanced Lighting Technologies Inc. (US) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Biketronics Inc. (Russia) 10.3 Custom Dynamics(r) 10.4 Custom LED LLC (US) 10.5 Federal-Mogul Corporation (US) 10.6 Flextronics International (Singapore) 10.7 Hella KGaA Hueck & Co. (Germany) 10.8 Changchun Hella Automotive Lighting Co., Ltd (China) 10.9 Ichikoh Industries Ltd. (Japan) 10.10 Koito Manufacturing Co. Ltd 10.11 Magneti Marelli S.p.A 10.12 Valeo SA 10.13 Stanley Electric Co., Ltd 10.14 ZIZALA Lichtsysteme 10.15 Continental (Germany) 10.16 Philips (Netherlands) 10.17 Bosch (Germany)