The global automotive daytime running lights market size is expected to experience considerable growth during the forecast period. This is attributable to the growing autonomy in the automotive sector and the increasing demand for premium automobiles that is likely to boost the adoption of advanced automotive daytime running lights across the globe. This information is published by Fortune Business Insights in its upcoming report, titled, “Automotive Daytime Running Lights Market Size, Share & Industry Analysis, By Type (Traditional Lighting, LED Lighting, Others), By Application Type (Passenger Cars, Commercial Vehicles) and Regional Forecast 2020-2027.”
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The effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in resumption of industrial activities.
List of the Companies Profiled in the Global Market for Automotive Daytime Running Lights:
- Valeo SA
- KOITO MANUFACTURING CO., LTD.
- STANLEY ELECTRIC CO., LTD.
- Marelli Holdings Co., Ltd.
- HELLA GmbH & Co. KGaA
- ZIZALA Lichtsysteme
- ICHIKOH INDUSTRIES
What does the Report Include?
The global market for automotive daytime running lights report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
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Growing Autonomy in Automotive Industry to Promote Growth
Technological advancement is leading to the development of modern automotive across the globe. The growing incorporation of autonomous vehicles that have the potential to reduce accidents, crashes, and save human lives is expected to boost the demand for advanced automotive daytime running lights. Moreover, the surging sales of premium vehicles is anticipated to contribute to the global automotive daytime running lights market growth in the forthcoming years.
Asia-Pacific to Remain at Forefront; Increasing Production of Vehicles to Surge Demand
Among all the regions, North America is expected to hold the highest position in the global automotive daytime running lights market in the forthcoming years. This is attributable to the increasing production of automotive due to the presence of established manufacturers in the region.
The market in North America is anticipated to experience substantial growth owing to technological advancement in automotive that is driving the demand for advanced automotive daytime running lights in the region between 2020 and 2027.
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Partnership between Key Players to Expand Their Product Portfolio & Boost Sales Revenue
The global automotive daytime running lights market comprises small, medium, and large companies striving to maintain a stronghold. These companies are partnering other companies to develop advanced automotive daytime running lights and further expand their product portfolio. Additionally, the adoption of strategies such as collaboration, merger and acquisition, and facility expansion by other key players is anticipated to contribute to the growth of the market.
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