Daytime Running Lights Market: Forward looking perspective on different factors driving or restraining market growth

Daytime Running Lights Market: Forward looking perspective on different factors driving or restraining market growth

Introduction

With the advancements in technology, there has been a considerable growth in the daytime running lights market globally. The technology improvement that has transpired in the daytime running lights market can be clearly witnessed from the change in preference of the consumers from standard head lamps to LED (Light Emitting Diode) and HID (High Intensity Discharge) lamps. The shift in preference is largely driven by energy efficiency, longevity, and styling features of the LED and HID lamps. OLED or organic LED’s are the new possibilities for efficient daytime running light solutions in the future. The temperature resistance in OLED’s are increased to ensure a smooth long term usage.

In addition, OLED’s are homogenous light surfaces that can form various shapes and colors, which are expected to be durable as well as energy efficient. Round-the-corner-car-light is another efficient automotive lighting solution, which is yet to become popular though it is provided in some of the premium segment of vehicles. Such lights have intelligent LED headlight systems that provide the driver with optimal vision on the corners and edges of the road; thereby ensuring better road assistance and safety.

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Growth Drivers

The growth in the global daytime running lights market is directly related to the growth of the global automobiles market. In addition, increasing production and usage of hybrid and electric vehicles are set to increase the application areas of daytime running lights, globally. Therefore, with the increasing sales of automobiles globally, the demand for daytime running lights are set to grow. In regions such as Asia Pacific and Latin America, an immense rise in the usage of passenger vehicles is expected over the forecast period, which is set to bolster the growth of the daytime running lights market in such areas.

The daytime running lights market can be classified by type, by application and by geography. The type segment can be classified into HID, LED and halogen. By application, the market can be segregated as passenger vehicles, light commercial vehicles and heavy commercial vehicles.

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Regional Analysis

By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

In terms of market revenue share, Asia Pacific is expected to hold the largest share by the end of forecast period followed by Europe, North America, Latin America and, Middle East and Africa.

Key Vendors

Major daytime running lights market participants profiled in this report include: Advanced Lighting Technologies Inc. (US), Biketronics Inc. (Russia), Custom Dynamics(r), LLC (US), Custom LED LLC (US), Federal-Mogul Corporation (US), Flextronics International (Singapore), Hella KGaA Hueck & Co. (Germany), Changchun Hella Automotive Lighting Co., Ltd (China), and Ichikoh Industries Ltd. (Japan) among others.