Global Automotive Daytime Running Light Market 2017-2021

Overview of the global automotive daytime running light (DRL) market

Technavio’s market research analyst predicts the global automotive daytime running light (DRL) market to grow steadily at a CAGR of around 8% by 2021. One of the key factors responsible for this market growth are the add-on safety benefits of DRL. DRLs increase the safety of vehicles during daytime and enhances vehicle conspicuity during poor weather conditions such as fog or mist. Drivers find these lights useful in low light conditions and allows them more time to react in case of an oncoming vehicle, thus reducing the chances of collisions. Furthermore, the automatic switch on capability of DRLs allows the drivers to distinguish between parked and moving vehicles.

In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The rising demand for passenger cars and the rise in the demand for advanced features in vehicles are the key contributors to the market dominance of APAC in the DRL market. The growing demand for vehicles from countries such as China, South Korea, and India is attracting global automotive manufacturers to invest and operate in these countries. Other factors influencing the investments in the region are the growing population of the region, improvement in infrastructure, increase in construction activities, rising purchasing power, changing lifestyles and preferences, government initiatives, and reduced overall vehicle production costs. With cost-effective resources and funding, this region will continue to provide DSRs that are comparatively good and economical.

Competitive landscape and key vendors

The global automotive DRL market is highly competitive in nature, with the presence of several new advanced technologies being introduced by vendors to differentiate their product offerings. Vehicle manufacturers and suppliers are placing increased focus on automotive lighting technologies, this has resulted in greater innovations in front lighting systems. Also, government regulations are compelling manufacturers to shift from conventional halogen lighting to LED lighting, adaptive front-light system (AFS). Due to this the key factor influencing this competition is reducing the cost and improving the quality and efficiency of the product.

Leading vendors in the market are –

• Hella
• KOITO
• Magneti Marelli
• OSRAM
• Valeo

Other prominent vendors in the automotive DRL market include ICHIKOH INDUSTRIES, Samsung LED, and STANLEY ELECTRIC.

Segmentation by type of vehicle and analysis of the automotive DRL market

• Passenger cars
• LCVs

During 2016, the passenger cars segment dominated the automotive DRL market and accounted for a major part of the overall market share. DRLs have become a standard fitment in most new passenger cars. Asia is a key market for passenger car sales as its strong middle-class population segment is witnessing considerable economic growth and stability. This rising consumer expectation has propelled the need for passenger car manufacturers to offer high-end electronic and connected functionalities with advanced features in safety, security, propulsion, and environment-friendliness. Increased electrification, downsizing of engines, and increase in adoption of electric hybrid vehicles, will contribute to the growth of this segment in the coming years.

Segmentation by end market and analysis of the automotive DRL market

• OEMs
• Aftermarket

In this market study, analysts have estimated the OEM segment to dominate the automotive DRL market during the forecast period. OEM market for passenger cars consists of factory fitted DRLs in passenger cars and LCVs. With countries across the globe mandating the use of DRLs in passenger cars, OEMs are increasingly offering DRLs as factory-fitted parts. This coupled with the consumer’s demand for more efficient passenger cars will augment the growth of this market during the next few years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive DRL market?
• What are the key market trends impacting the growth of the global automotive DRL market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive DRL market?
• What are the market opportunities and threats faced by the vendors in the global automotive DRL market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global automotive DRL market?

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