Global Car Bulb Market, By Bulb Type (Halogen, Xenon and Light Emitting Diode (LED)), Number of Filament (One and Two), Positioning of Bulb (Interior Car Bulb and Exterior Car Bulb), Vehicle Type (Compact, Mid- Size, Luxury and SUV), Application (Tail Lights, Daylight Running Lights, Fog Lights, Signal Lights, Brake Lights, Hazard Lights, Driving Lamps and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Car Bulb Market
Data Bridge Market Research analyses that the car bulb market would exhibit a CAGR of 5.20% for the forecast period. Growth in the production of passenger vehicles especially in the emerging economies, shifting and improving economic conditions of certain economies around the globe, growing concerns related to the safety of driver and passengers and increased focus of the manufacturers over innovative automotive lighting systems and on the adoption of durable and impact resistant materials are the major factors attributable to the growth of car bulb market. This signifies that, the global car bulb market, which was USD 26,490.2 million in 2020, would stand tall by USD 39738.47 million by the year 2028.
From the name itself, it is clear that car bulbs are the components of automobiles lighting system that help to improve the visibility of the driver and enhance the safety level of all the passengers. Different kinds of bulbs are used in the automobiles and therefore, car bulbs have become an important and attractive feature especially in the luxury vehicles.
Growth in the demand for effective and convenient safety accessories or components has resulted in growth in the market value. Growth and expansion of automotive industry especially in the developing economies coupled with surge in the number of road accidents on daily basis will also create lucrative growth opportunities for the market. Increasing safety related regulations imposed by the government will also foster the market growth. Increased focus of the manufacturers on innovating with the lighting technology and surge in the adoption of LED’s for their fog penetrating capabilities will further carve the way for the growth of market.
However, high costs associated with the LED lights will pose a major challenge to the market growth rate. Also, fluctuations in the prices of oil and increasing fuel emission norms will hamper the market growth rate. Less penetration of advanced lighting will further restrict the scope of growth for the market.
This global car bulb market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on car bulb market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Car Bulb Market Scope and Market Size
The global car bulb market is segmented on the basis of bulb type, number of filament, positioning of bulb, vehicle type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of bulb type, the car bulb market has been segmented into halogen, xenon and light emitting diode (LED).
- On the basis of number of filament, the car bulb market is segmented into one and two.
- On the basis of positioning of bulb, the car bulb market has been segmented into interior car bulb and exterior car bulb.
- On the basis of vehicle type, the car bulb market has been segmented into compact, mid- size, luxury and SUV.
- On the basis of application, the car bulb market has been segmented into tail lights, daylight running lights, fog lights, signal lights, brake lights, hazard lights, driving lamps and others.
Car Bulb Market Country Level Analysis
The car bulb market is analysed and market size insights and trends are provided by country, bulb type, number of filament, positioning of bulb, vehicle type and application as referenced above.
The countries covered in the car bulb market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the car bulb market and will continue to flourish its trend of dominance during the forecast period owing to the prevalence of stringent safety norms and regulations. Asia-Pacific region is set to witness unprecedented growth during the forecast period and score the highest CAGR. This is because of the growth and expansion of automobile industry in this region and abundant availability of raw materials.
The country section of the car bulb market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Car Bulb Market Share Analysis
The car bulb market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to car bulb market.
The major players covered in the car bulb market report are Cree LED., Tungsram Operations Kft, KOITO MANUFACTURING CO., LTD., STANLEY ELECTRIC CO., LTD., Valeo, Marelli Holdings Co., Ltd., HELLA GmbH & Co. KGaA, Koninklijke Philips N.V., MOBIS INDIA LIMITED., Magneti Marelli S.p.A., OSRAM GmbH, SAMSUNG, ZKW, Continental AG, LG Electronics, Lear Corporation, Gentex Corporation, DENSO CORPORATION, Varroc Group and Lumax Industries among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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