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2021
Led Fog Lamp Market

LED Fog Lamp Market

by Position (Front, and Rear), Sales Channel (OEM, and Aftermarket), and Vehicle Type (Passenger Car, Commercial Vehicle, and Electric Vehicle): Global Opportunity Analysis and Industry Forecast, 2021-2030
Update Available On-Demand

Report Code: A13128
Pages: 235
Aug 2021 | 2487 Views
Author(s) : Omkar Bachal , Sonia Mutreja
Tables: 115
Charts: 63
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COVID-19

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LED Fog Lamp Market Statistics 2030 -

The global LED fog lamp market was valued at $727.44 million in 2020, and is projected to reach $2,687.13 million by 2030, registering a CAGR of 15.2%. Asia-Pacific was the highest revenue contributor, accounting for $233.87 million in 2020, and is estimated to reach $996.93 million by 2030, with a CAGR of 17.2%.

The spread of the COVID-19 pandemic has negatively impacted the global LED fog lamp market, owing to commute restrictions, negative demand outlook and expected weak financial performance of the market players in 2020. Furthermore, Majority of the manufacturing facilities of LED fog lamps has been shut down during the pandemic due to commute restrictions, workforce unavailability, and short supply of raw material due to supply chain disturbance. In addition, The sale of LED fog lamps is directly associated with automotive production and sales activities across the globe. Production loss is anticipated to increase if the lockdown in countries is extended. Thus, changes in production and sales activities of the automotive industry is expected to influence the overall demand in the near future.

    

LED fog lamps are the type of automotive headlight that are designed in a bar-shaped which is especially used at the time of poor visibility. At the time of bad weather conditions such as fog, dust, snow, or rain result to the poor visibility causes road accidents. The growing concern for automotive safety and changing automotive industry outlook is anticipated to support the growth for LED fog lamps in the near future, The demand of LED fog lamps is directly influenced by the automotive production and sales activities across the globe as LED fog lamp is one of the key components in the overall automotive lighting system. Moreover, policymakers have introduced regulations for the development of the LED fog lamps to attain operational efficiency along with improved safety measures. 

LED-fog-lamp-Market-2021-2030

Factors such as growth in concern towards road safety, rise in implementation of the government regulations are expected to drive the growth of the LED fog lamps market. However, high cost of the LED fog lamps, and decrease in production and sale of automotive restrain the market growth. On the contrary, growing adoption of the vehicle electrification, and entering into contracts and agreements with automotive OEMs are projected to offer lucrative growth opportunities for the market players.

The global LED fog lamps market is segmented into position, sales channel, vehicle type, and region. Depending on position, the market is segregated into front and rear. By sales channel, it is categorized into OEM, and aftermarket. Depending on vehicle type, it is fragmented into passenger car, commercial vehicle, and electric vehicle. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Leading players and their key business strategies have been analyzed in the report to gain a competitive insight into the market. Key players covered in the report include DLAA Industrial Co., Ltd, Hella KGaA Hueck & Co., IPF Co. Ltd., KOITO MANUFACTURING CO., LTD., Koninklijke Philips N.V., Marelli., Osram Licht AG, PIAA Corporation, Sammoon Lighting Co.,Ltd, Valeo. 

Changing concern towards road safety

Growth in number of road accidents and increase in inclination towards driver as well as vehicle safety worldwide leads to the spur in the demand for LED fog lighting system. Vehicles with advanced and high-end lightings able to detect threats on the path; thus, allowing the vehicle driver to take appropriate required actions. Rise in concern towards road accidents incidents, globally, spur the demand for better safety features in vehicles eventually leading to the installation of efficient LED light systems, which supports the market growth. Moreover, in the situation of the bad weather conditions, lighting plays a vital role as it is directly involved in the safety driving operation. At the time of foggy weather, LED fog lamp has reduces the risk of low visibility as compare to other type of fog lights that enhance the automotive safety effectively. Automotive fog lights are mainly installed for improve the vehicles conspicuity in critical conditions and enhanced visibility in harsh environments. As per World Health Organization’s published data in June 2021, nearly 1.3 million people die in road traffic accidents each year that comprises a significant portion owing to improper lighting system in vehicle. Furthermore, death due to road traffic injuries are high among the teenagers. These factors results to growth in demand for batter and efficient LED fog lamp system in vehicles. Thus, increasing focus towards road safety drives the growth for LED fog lamp market.  

Growing implementation of the government regulations

Low visibility due to bad weather condition and improper lighting intensity of the automotive are one of the key reasons for growing number of road accidents. Governments and policy makers across the globe has introduced the regulations pertaining to the development and use of the LED fog lamps in the automotive. The EU (European Union) obligate the usage of the DRL (Daytime Running Lights) owing to unfavorable weather conditions in this region to avoid the threats and increase the safety of the vehicle. Moreover, United Nations stated the regulation no. 19 for uniform provisions concerning the approval of power-driven vehicle front fog lamps contents. The regulation defined the set of requirements for the development of the LED for lamps including color and Illumination of the system. Moreover, United Nations also stated the regulation no. 38 for uniform provisions concerning the approval of rear fog lamps for power-driven vehicles and their trailers. The regulation focused on the set of requirements including Intensity of light emitted, Heat resistance level, Colour of light emitted among others.  Such regulations guide the OEMs for the development of the front as well as rear led fog lamps which is anticipated to support the growth for LED Fog Lamp market in the near future.

LED Fog Lamp Market
By Position

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Rear segment is projected as the most lucrative segments

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High cost of the LED fog lamps

Increase in need for operational efficient, long lasting and greater visibility is expected to spur the demand for LED fog lamps. Moreover, LED fog lamp has application in the area of front side as well as back side. However, with the installation of LEDs in automobiles, a lot of heat is dispersed to the emitters, which can be controlled only with the installation of other equipment. This eventually increases the cost of LED lights to be used in automobiles; thus, restraining the growth of the LED fog lamp market during the forecast period.

LED Fog Lamp Market
By Sales Channel

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Aftermarket segment is projected as the most lucrative segments

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Growing adoption of the vehicle electrification

In the recent years, the automotive industry has witnessed drastic change in terms of technological evolution. To cater to the changing demands of consumers, OEMs are relying on electrical components, owing to their output efficiency, thus making vehicle electrification a fuel economic solution. In addition, end users are demanding for technologically advanced electrical components and systems to ease the driving experience and to facilitate efficient operations of vehicles. LED fog lamps are one of the crucial electric component with improved output efficiency. In addition, increase in need for vehicle electrification in recent years is anticipated to bolster the demand for electrical system and components, which, in turn, is likely to augment the growth for LED fog lamps. Thus, all these factors collectively are escalating the trend of vehicle electrification, which is creating remunerative opportunities for market participants.

LED Fog Lamp Market
By Vehicle Type

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Electric Vehicle segment is projected as the most lucrative segments

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COVID-19 Impact Analysis 

For the LED Fog Lamp market, 2020 was witnessed as a negative performing year, owing to the negative demand and supply outlook from the COVID-19 crisis restrictions and supply chain disruptions. The demand from end users has reduced at a considerable level as there is low consumer confidence and high vehicle prices. Market participants of LED Fog Lamp are following certain approaches to manage the operations by slashed budgets, extended equipment lifecycles, decreased staff sizes, and reduced salaries in the short term to overcome the financial downturn. However, there are most probable chances of sales momentum for the LED Fog Lamp from 2022, owing to its positive demand outlook and green mobility initiatives.

LED Fog Lamp Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit the highest CAGR of 17.2% during 2021-2030.

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Key Benefits For Stakeholders

  • This study presents analytical depiction of the global LED Fog Lamp market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall LED Fog Lamp market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities of the global LED Fog Lamp market with a detailed impact analysis.
  • The current LED Fog Lamp market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Key Market Segments

By Position

  • Front
  • Rear

By Sales Channel

  • OEM
  • Aftermarket

By Vehicle Type

  • Passenger Car
  • Commercial Vehicle
  • Electric vehicle

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Players

  • DLAA Industrial Co., Ltd 
  • Hella KGaA Hueck & Co.
  • IPF Co. Ltd.
  • KOITO MANUFACTURING CO., LTD.
  • Koninklijke Philips N.V.
  • Marelli
  • Osram Licht AG
  • PIAA Corporation
  • Sammoon Lighting Co.,Ltd
  • Valeo
 

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The global LED fog lamps market is expected to witness significant growth, owing to adoption of LED lighting system in the modern automotive to meet the design requirements with the greater visibility. LED fog lamps are gaining high traction in the current era, owing to their operational capability along with cost-effectiveness in the long run. Asia-Pacific is a leader in the LED fog lamps market, owing to the presence of several automotive manufacturers and consistent changes in automotive industry outlook. The global LED fog lamps market is a fairly consolidated market in which limited market participants are operating in the global market. Market participants are focused to develop their sales footprints by entering into long-term contracts and agreements with the automotive OEMs and introduce new product lines of LED fog lamps to cope up with changing requirement of the end users.

Market participants are involved in the development of the online sales channel by introducing the own E-commerce platforms or introducing products through the third party e-commerce service providers. Changing consumer buying behavior pattern and growing penetration of e-commerce industry is expected to create a significant opportunity on the online platforms. The impacts of COVID-19 significantly affected the global LED fog lamps market in 2020. Furthermore, the market witnessed negative growth or significant downfall in 2020. However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.

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FREQUENTLY ASKED QUESTIONS?

A. The global LED fog lamp market was valued at $727.44 million in 2020, and is projected to reach $2,687.13 million by 2030, registering a CAGR of 15.2%.

A. Market players are entering into contracts and agreements with OEM to gain competative advantage

A. The report sample for global LED Fog Lamp market report can be obtained on demand from the website.

A. Yes, by considering the supply chain, business ecology, consumer preference and LED technology adoption by the OEM, LED fog lamp business is profitable

A. With the adoption of LED technology in the automotive industry, LED fog lamp has witnessed significant demand from last few years, Moreover, in the upcoming years, the global market is expeted to register a CAGR of 15.2% over the forecast period.

A. The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated

A. High peneration of electric vehicles and changing consumer prefence has witnessed significant growth in the global market. As per AMR analysis, the market is epxected to witness CAGR of 15.2% over the forecast period

A. DLAA Industrial Co., Ltd, Hella KGaA Hueck & Co., IPF Co. Ltd., KOITO MANUFACTURING CO., LTD., Koninklijke Philips N.V., Marelli., Osram Licht AG, PIAA Corporation, Sammoon Lighting Co.,Ltd, Valeo, are the manufacturers of LED fog lamps.

A. U.S., Germany and China are the key matured markets growing in the LED Fog Lamp market

A. Decrease in sales and production of automotive,and high penetration of the electrifies vehicles are the known and unknown adjacencies impacting the LED Fog Lamp market

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