Market Research Future (MRFR) states that the global LED fog lamp market is likely to expand at CAGR of 9% between 2019 and 2025 and attain a valuation of USD 2 billion by 2025. The major factor that is expected to drive the market growth is the contribution of LED fog lamps to enhance the safety of drivers, especially on night rides. Other factors such as better fog penetration capability of LED light, strict safety measures, and fast-paced expansion of automotive aftermarket are expected to benefit the market growth. However, the lack of awareness can hinder the market expansion.
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- HELLA Group
- Valeo SA
- Magneti Marelli S.p.A.
- Robert Bosch GmbH
- IPF Corporation
- SL Corporation
- KOITO MANUFACTURING
- JDM Astar
The global LED fog lamp market study has been segmented on the basis of color, position, vehicle type, and sales channel.
By color, the market has been segmented into yellow, white, and others. White light enhance visibility, thus preferred over yellow lights. The white light segment is expected to register the highest growth rate over the review period. Considering the others segment, it comprise red light, which is gaining popularity due to its long wavelength.
By position, the market has been segmented into front and rear. While front lamp enhance active visibility, rear lamp that is often conjugated with front lamp prevents accidents, especially in night driving. Hence, it is expected that the front segment, followed by rear segment, is likely to contribute largely to the expansion of the market.
By region, the LED fog lamp market has been studied for regions that include; North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
In North America, the intense automobile crowd is surging the need to integrate robust safety measures into them. This is escalating the sales of LED fog lamp, which is expected to spur its regional market growth. The United States, followed by Canada, is expected to grow at fast-pace. In addition, the ever-expanding OEM industry in the region is expected to scale up the North America market. The expansion of the Europe LED fog lamp market can be attributed to the residence of numerous manufactures and strict traffic rules that are exercised in the region. The UK suffers from dense fog that reduce road visibility severely, this is expected to surge the demand for the LED fog lamp. The market in UK, followed by market in Germany, is expected to hold a sizable share of the regional market. A greater number of automobile manufacturer, increase in number of automobile consumers, and the expanding aftermarket automotive industry are factors that are likely to propel the Asia Pacific market. China, followed by Japan, is expected to exhibit high rate of expansion for the market.
Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Sales Channel/Vehicle Type/Application is driving market?
- What will be the growth rate by 2025?
- How are the key players in this market?
- What are the strategies adopted by key players?
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