The global vehicle daytime running lamps market was valued at US$531.251 million in 2020.
The Vehicle Daytime Running Lamp's (DRL) job is to increase the visibility of the car so that the other user sees the vehicle on the road. DRL is an automotive lighting and bicycle lighting device on the front of a motor vehicle or bicycle, it gets automatically switched on when driving and emits a white, yellow, or amber light. DRL is used for maximizing benefits in safety performance, glare, motorcycle masking, and other potential drawbacks. A daytime running lamp emits a brighter light when the headlamps are not turned on and its brightness will be dimmed slightly in conjunction with the headlamps being turned on. Vehicle Daytime Running Lamp Market is segmented by the basis of type, seating capacity, engine type, and geography. Segmentation on type includes Halogen, LED (Light Emitting Diode), and HID (High-Intensity Discharge). Segmentation on the basis of seating capacity includes 2-seater and 4-seater cars. Segmentation on the basis of vehicles includes passenger vehicles, light commercial vehicles, and heavy commercial vehicles.
Market Drivers
The automotive running lamp market is growing due to the increase in sales & production of vehicles, safety concerns, and technological advancements. The advancement of in-car safety features is going to increase the demand for DRL in the market. LEDs are the most widely used lamps in cars as they are more energy-efficient than conventional light sources. They have multiple advantages in comparison to traditional lights, like low voltage, durability for a longer time, zero UV emission, flexible design, eco-friendly, and long life. DRL is most popular in countries located further north, where there is less light, especially in winter. Countries such as Sweden, Norway, Iceland, Denmark, and Canada were among the first to require DRLs on all vehicles. DRL even adds style to a vehicle. There are a lot of options to choose from. It gives the car a sleek look and consumes less power than traditional lights.
By Geography Type
Regionally the vehicle daytime running lamps market is classified into North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific. The report also analyses major countries across these regions with a complete analysis and forecast, along with prevailing market trends and opportunities that each of these countries presents for the manufacturers. Nordic and Scandinavian countries where it is persistently dark during the winter season at day time have a high demand for daytime running lights. The safety benefits produced by DRLs in relatively dark Nordic countries have roughly tripled as compared to the bright United States. The APAC region and Middle Eastern countries will drive the market growth on account of an upsurge in income and a better lifestyle.
Recent development and expansions
COVID-19 impact
The COVID-19 crisis had an impact on the market by slowing supply chains and impeding business growth. Governments in various regions declared total lockdown and the temporary shutdown of industries, which harmed overall product production and sales. Following the COVID-19 health crisis, the global business outlook has shifted dramatically. Furthermore, market participants' overall production activities decreased due to operations with limited workforce capacity and inadequate health safety measures, as well as the current demand dynamics of the automotive industry. The automobile and transportation sectors stalled as a result of the global lockdown, which also had a negative impact on the automotive industry. According to the present situation, the overall world is slowly getting back on track with new restrictions and policies to support economic activity in all industries.
Market Segmentation
Frequently Asked Questions (FAQs)
Q1. What is the size of the global vehicle daytime running lamps market?
A1. Vehicle Daytime Running Lamps Market was valued at US$531.251 million in 2020.
Q2. Who are the major players in the vehicle daytime running lamps market?
A2. Some of the major companies mentioned as a part of the vehicle daytime running lamps market are Valeo SA, OSRAM GmbH, Koninklijke Philips N.V., Magneti Marelli S.p.A, and HELLA GmbH & Co. KGaA.
Q3. How is the global vehicle daytime running lamps market segmented?
A3. The global vehicle daytime running lamps market has been segmented by type, vehicle type, and geography.
Q4. What factors are anticipated to drive the vehicle daytime running lamps market growth?
A4. The vehicle daytime running lamps market is growing due to the increase in sales & production of vehicles, safety concerns, and technological advancements.
Q5. What is the base year considered in the global vehicle daytime running lamps market report?
A5. 2020 has been taken as the base year in the global vehicle daytime running lamps market.
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