What is Global Daytime Running Lamp Market?
The Global Daytime Running Lamp Market is a comprehensive study of the various aspects of this specific industry. It encompasses the use of lamps that are switched on automatically when a vehicle is moving forward, emitting a light to increase the visibility of the vehicle during daylight conditions. These lamps are not designed to illuminate the road ahead but are intended to make the vehicle more noticeable to other drivers and pedestrians. The market for these lamps is growing due to the increasing awareness about road safety and the regulations mandating the use of these lamps in many countries. The market is also driven by technological advancements in lighting technology and the growing automotive industry. However, the market faces challenges such as high cost of LED lamps and lack of standardization. Despite these challenges, the market has immense growth opportunities such as the increasing adoption of LED lamps due to their energy efficiency and longer lifespan compared to traditional lamps.
Halogen Lamp, LED Lamp, Others in the Global Daytime Running Lamp Market:
The Global Daytime Running Lamp Market is segmented based on the type of lamps into Halogen Lamp, LED Lamp, and Others. Halogen lamps are the traditional type of lamps used in vehicles. They are cost-effective and provide adequate visibility. However, they consume more power and have a shorter lifespan compared to LED lamps. On the other hand, LED lamps are more energy-efficient and have a longer lifespan. They also provide better visibility due to their higher brightness and color temperature. However, they are more expensive than halogen lamps. The 'Others' segment includes different types of lamps such as HID lamps and OLED lamps. These lamps are used in high-end vehicles due to their superior performance and aesthetic appeal. However, they are more expensive and require more complex installation compared to halogen and LED lamps.
Automobile Manufacture Industry, Automobile Aftermarket Industry in the Global Daytime Running Lamp Market:
The Global Daytime Running Lamp Market finds its application in two major areas - Automobile Manufacture Industry and Automobile Aftermarket Industry. In the Automobile Manufacture Industry, these lamps are installed in the vehicles during the manufacturing process. The increasing demand for vehicles, especially in developing countries, is driving the growth of this segment. In the Automobile Aftermarket Industry, these lamps are installed in the vehicles after they are purchased. This is done to enhance the visibility and aesthetic appeal of the vehicles. The growing awareness about road safety and the increasing trend of vehicle customization are driving the growth of this segment. However, the installation of these lamps in the aftermarket requires professional expertise, which can be a challenge for this segment.
Global Daytime Running Lamp Market Outlook:
The Global Daytime Running Lamp Market is expected to grow from US$ 1445.4 million in 2022 to US$ 1674.7 million by 2029, at a CAGR of 2.1% during the forecast period 2023-2029. Europe is the leading market for these lamps, accounting for about 71% of the global market share. This can be attributed to the stringent road safety regulations in the region and the high demand for vehicles. China follows Europe, holding about 10% of the global market share. The market in China is driven by the rapid growth of the automotive industry and the increasing awareness about road safety. The top three companies in the market hold about 49% of the global market share. These companies have a strong presence in the market due to their wide product portfolio, strong distribution network, and strong brand recognition.
| Report Metric | Details |
| Report Name | Daytime Running Lamp Market |
| Accounted market size in 2023 | US$ 1445.4 million |
| Forecasted market size in 2030 | US$ 1674.7 million |
| CAGR | 2.1% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Hella, Philips, Valeo, Magneti Marelli, Osram, General Electric, Koito Manufacturing, Hyundai Mobis, ZKW Group, Ring Automotive, Bosma Group Europe, PIAA, Lumen, Fuch, JYJ, Canjing, Oulondun, YCL, Wincar Technology, Ditaier Auto Parts, YEATS, JXD |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
