Daytime running lamps market (DRL Market) is set to register 5.7% growth – thereby creating high revenue opportunity for industry players. DRL are placed in front of vehicle and are widely used to ensure daylight visibility especially in the region with low visibility conditions. It was introduced in 1970s and since then has gained wide scale popularity across worldwide.
Deployment of DRL has been mandated across Europe and North America. As such, the revenue opportunity for the players has significantly increased. This is a contract manufacturing driven industry with presence of numerous small and midsize companies. Top 10 players accounted for over 55% of global share in 2017. This is expected to further increase with technological advancement and higher emphasis on inorganic growth strategy.
Daytime running lamps market is driven by various factors – the most important being security features. It enhances the daytime visibility especially in winter and fog conditions. Thus, it reduces the overall accidents. Another factor that adds to increased popularity of DRL is low power consumption feature. LED based DRL consumes much less power and has a lifespan of over 20 thousand light emission hours. While DRL is set to create high revenue opportunity, pricing has been the major challenge faced by leading companies. As such, the industry might see a pool of mergers acquisitions by leading companies to ensure market presence globally.
Daytime running lamps market is highly mature with growth rate of 3%. However, advent of electric vehicles is poised to create significant demand for DRL worldwide. Long term contract partnerships is expected to offer much needed revenue thrust during the forecast period (2018-2028).
Global Daytime Running Lamps Market Share and Forecast: Regional Analysis
Globally, Western Europe will dominate the global share. The region is expected to account for over 35% of global share. Much of the revenue is expected to generate from UK and France followed by Nordic in 2018. DLR has been mandated compulsory in European Union since 2011. All cars, trucks, buses and small delivery vans are mandated to use DRL. This has led to significant boost in overall sales in the region. Czech Republic, Estonia, Austria, Norway, Bulgaria, Hungary and Ireland have mandated the installation of DRL in automotive vehicles.
Not only Europe and North America are witnessing higher installation of DRL, but also Asia Pacific has seen impressive change towards DRL installations. It could be gauged from the fact that Government of India has mandated the two wheeler to be installed with Automatic Headlamp On (AHO) feature since April 2017. AHO is similar to DRL in cars.
China is another major revenue nation in the region. The country is the production hub of DRL in Asia. Many small scale contract manufacturing companies are located in Guangzhou belt in China. These companies primarily operates on pricing differentiation.
Global Daytime Running Lamps Market Size and Forecast: Competition Landscape
The Key players and companies in global Daytime Running Lamps Market include Valeo SA, Ichikoh Industries Ltd., Osram GmbH, Stanley Electric Co., Ltd., Hella KGaA Hueck & Co., Magneti Marelli S.p.A, Koito Manufacturing Co. Ltd., Koninklijke Philips N.V., and General Electric.
- Two Wheeler
- Four Wheeler
- Light Weight
- Heavy Weight
By Supplier Assessment:
What Will You Discover in the Report?
- An in-depth analysis of the Daytime Running Lamps market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Daytime Running Lamps market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Daytime Running Lamps market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Daytime Running Lamps industry during the forecast period
- Who are the Daytime Running Lamps industry leaders and what are the key initiatives taken by them for long term growth
Who will benefit from the Report?
- Daytime Running Lamps Industry Suppliers
- Daytime Running Lamps Industry Manufacturers
- Consultants and Analysts
- Industry Specialists
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