The global automotive daytime running lamps market is anticipated to grow at a CAGR of 7.5% during the forecast period (2022-2028).Daytime running lamps is used to increase visibility in the daytime as well as enhance safety, and comfort and provide a stylish appearance to the vehicles. The major factor expected to drive the market growth is the rising implementation of round-the-corner-lighting and significant demand for automotive in developing countries. In addition, the rise of hybrid and electric vehicles, increasing road safety concerns, and strict automobile standards are expected to propel the growth of the market during the forecast period. The rising technological advancements in the automotive sector coupled with the increasing consumer preferences towards traditional headlights to more efficient, long-lasting, and fashionable high-intensity discharge (HID) and light emitting diode (LED) lights. The rising demand for electric cars, as well as increased automobile production and sales, are some factors expected to drive the growth of the global automotive daytime running lamps market during the forecast period.
A full report of Automotive Daytime Running Lamps (DRL) Market is available at:https://orionmarketreports.com/automotive-daytime-running-lamps-drl-market/107165/
Some major players in the market include Koito Manufacturing Co. Ltd., Magneti Marelli S.p.A, and Valeo SA, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in November 2021, BYD Auto Co., Ltd. announced the launch of its new BYD e6 all-electric MPV in the Indian market which comes with features such as LED daytime running lamps and LED tail lamps. Moreover, in November 2021, Skoda Auto a.s. announced the release of two official design sketches that tease the new SLAVIA for the Indian market with a sharply defined headlights that feature an L-shaped daytime running lamp strip, and wide hexagonal Skoda grille extending all the way to slender.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Vehicle Type
- By Sales Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Koito Manufacturing Co. Ltd., Magneti Marelli S.p.A, and Valeo SA, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Daytime Running Lamps Market Report by Segment
By Type
- Halogens
- Light Emitting Diode (LED)
- High-Intensity Discharge (HID)
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
By Sales Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarket
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