Global Automotive Daytime Running Light Market 2017-2021

Global Automotive Daytime Running Light Market 2017-2021

About Automotive DRL

Lighting is one of the most important aspects of an automobile, with vital roles to play in safety, comfort, and, increasingly, in vehicle styling. It includes lighting and signaling devices located in the front, sides, and rear of a vehicle. The primary use of automotive lighting is to ensure visibility for the driver, improve vehicle conspicuity, and intimate the presence and position of the vehicle to others.

Technavio’s analysts forecast the global automotive DRL market to grow at a CAGR of 7.81% during the period 2017-2021.Covered in this report

The report covers the present scenario and the growth prospects of the global automotive DRL market for 2017-2021. To calculate the market size, the report considers the revenue generated from the annual shipment of units.

The market is divided into the following segments based on geography:

• Americas
• APAC
• EMEA

Technavio's report, Global Automotive DRL Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

• Hella
• KOITO
• Magneti Marelli
• OSRAM
• Valeo

Other prominent vendors

• ICHIKOH INDUSTRIES
• Samsung LED
• STANLEY ELECTRIC

Market driver

• Regulatory mandates favoring DRL use
• For a full, detailed list, view our report

Market challenge

• High cost of LEDs
• For a full, detailed list, view our report

Market trend

• Use of DRL as brand differentiator by OEMs
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Press Release

Technavio Announces the Publication of its Research Report – Global Automotive DRL Market 2017-2021

Technavio recognizes the following companies as the key players in the global automotive DRL market: Hella, KOITO, Magneti Marelli, OSRAM, and Valeo

Other Prominent Vendors in the market are: ICHIKOH INDUSTRIES, Samsung LED, and STANLEY ELECTRIC

Commenting on the report, an analyst from Technavio’s team said: “Car designers are increasingly seeking to differentiate their products in the intensely competitive automotive market by creating new styling treatments in exterior and interior lighting. New technologies that provide greater flexibility and better scalability across different applications and vehicle models are providing the opportunity for automotive designers to create a unique style, look, and feel. These technologies are being leveraged by designers to enhance the appeal of cars.”

According to the report, DRLs are used in vehicles to increase vehicle visibility on the road during the daytime. DRL has led to the reduction of deaths and injuries on the road. Scandinavian countries were the first to implement DRL regulations because of the region's low daylight during winters. Studies conducted by organizations like the European Union and the UK's Department for Transport to analyze the benefit-to-cost ratio of DRLs found these lighting systems beneficial. While Sweden mandated the use of DRLs as early as 1977, the European Commission mandated their use in passenger cars and small vans in 2011. Germany mandated their use in all new vehicles produced after the second half of 2012. The NHTSA also has opted DRL as an additional safety feature for the vehicles but has not mandated their use. Taiwan’s Ministry of Transportation, in September 2016, announced plans to mandate the use of DRLs in all passenger cars in 2017.

Further, the report states that LEDs have witnessed high uptake in the global automotive DRL market over the last couple of years because of the energy efficiency, a greater number of features than any previous lighting technology, and the phasing out of incandescent and halogen bulbs. LEDs last about 25 times longer than incandescent lights and three times longer than compact fluorescent lamps (CFLs). However, while LED lights are more efficient and long-lasting, the upfront costs of these lights are high, deterring their purchase. Although the price of LED lights has come down to $10 for an A19 bulb, they are still expensive when compared with the alternatives. Vendors in the market are continuously reducing the cost and improving quality and efficiency. However, the cost of LED lights will hinder the growth of the market during the forecast period.

Companies Mentioned

Hella, KOITO, Magneti Marelli, OSRAM, Valeo, ICHIKOH INDUSTRIES, Samsung LED, STANLEY ELECTRIC.