Daytime Running Lights Market

Daytime Running Lights Market – Increasing Production And Usage Of Hybrid And Electric
Vehicles
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.
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. In addition, economic reforms in countries
coupled with growth in the automotive sector and increasing private equity investments in
automotive lighting companies are crucial factors influencing the growth of global daytime
running lights market.
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. By
geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East
and Africa, and Latin America.
Get PDF Sample with Latest Advancement
@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2562
8
Rising concern for road safety and increasing stringent automobile standards and guidelines are
the major driving factors for the daytime running lights market. Daytime running lights ensure
better visibility of vehicles in low light and extreme weather conditions, thereby improving the
safety of people and driver. Moreover, increasing production of vehicles fitted with daytime
running lights is also set to bolster the growth of this market globally. 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.
The report also provides company market share analysis of the various industry participants.
Acquisition is the main strategy being widely followed by leading market players. In case of an
acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are
expected to emerge more profitable and stronger than before. Key players in the global
daytime running lights market have been profiled and their company overview, financial
overview, business strategies and recent developments have been covered in the report. Major
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.

Download Report