Car Bulb Market Global Industry Analysis and Forecast Till 2021 – 2028
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The trend of increased customization has made it possible for all the vehicles owners to customize their vehicle according to need or requirement. Customization has made it possible to all the vehicle owners by providing them opportunity to customize their vehicles with ambient lighting and give a new atheistic look to the interior or exterior of the vehicle. Extent of customization depends of customers need or requirement.
Car Bulb Market: Drivers
Factors influencing the growth of the car bulb market such as installation of units at OEM production site and repair and replacement experience in the aftermarket and car service channels. In recent times, the concept of ambient lighting has also brought a spur in demand for car bulbs where different types of car bulb adds an attractive feature incorporated in premium and luxury class vehicles to improve cabin comfort and increase the overall appeal of a vehicle. Moreover, the automotive industry in North America and Asian countries, such as U.S., China, India and South Korea, contributes a healthy amount to the world’s GDP. Though the sales of high-end vehicles is heavily outperformed by the sales of entry level variants, easy availability of aftermarket car bulb coupled with consumer shift towards customization is steadily favoring the car bulb, and is helping in driving the car bulb market forward.
The car bulb market is seen to be high volume market whose growth will depend upon the overall growth of the automotive ancillaries’ industry sector. The car bulb market is characterized as highly competitive one with an influx of tier-1 manufacturers operating on global scale as well as regional and local level OEMs. The tier-1 manufacturers are seen to provide car bulb directly to OEM channel as well as sales in aftermarket spare parts trade channel. The local and regional level car bulb manufacturers mainly sell through the aftermarket route.
However, increasing fuel emission norms in the country have compelled manufacturers to reduce the number of components in vehicles and remove components that have the least mobility functionality. For this reason, the manufacturers in Japan are considering entirely omitting interior ambient lighting systems, especially in compact to mid-size variants. These regulations may prove to be a dent in the growth of car bulb market.
Car Bulb Market: Region Wise Trend
Region wise, the car bulb market is divided into nine region: Latin America, North America, Western Europe, Eastern Europe, MEA, SEA, India, Japan and China. Western Europe is a major hub of the automotive with Germany, Italy, France and the United Kingdom being at the forefront. Automotive manufacturers in these countries are focused on rolling out mid-level to high-level variants which take up a major share of the market. Additionally, consumers in the region are also focusing on environmental sustenance, prompting a slight shift towards electric vehicles. Increase in the sales of electric vehicles will be the trending opportunity for car bulb manufacturers.
Consumers in North America have been known to radically alter their vehicles. This trend of customization as well as automotive manufacturers’ implementation of such systems (ambient lighting) is one of the prime reasons driving the car bulb market. Moreover, the presence of a significant number of aftermarket car bulb manufacturers will make the car bulb aftermarket strong in the region.
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Car Bulb Market: Market Participants
Some of the market participants/vendors identified in the Car Bulb market across the globe are:
- Osram GmbH
- Ring Automotive Limited
- Lucas Electrical
- Stanley Electric Co. Ltd.
- Jagan Lamps
- Sylvania Inc.
- Autolite (India) Limited
- PIAA Corporation
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.Car Bulb Market: Segmentation
On the basis of car bulb type, the Car Bulb market can be segmented into:
On the basis of number of filament used in car bulb, the Car Bulb market can be segmented into:
On the basis of positioning of car bulb, the Car Bulb market can be segmented into:
- Interior Car Bulb
- Exterior Car Bulb
On the basis of vehicle type, the Car Bulb market can be segmented into:
On the basis of application, the Car Bulb market can be segmented into:
- Tail Lights
- Daylight Running Lights
- Fog Lights
- Signal Lights
- Brake Lights
- Hazard Lights
- Driving Lamps
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- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint