LED Fog Lamp Market Synopsis:
LED Fog Lamp Market is projected to be worth USD 3.11 billion by 2030, registering a CAGR of 16.24% during the forecast period (2022- 2030)., The market was valued at USD 910.27 million in 2022.
LED Fog lamps are critical for mobility within foggy terrain.
In the US alone, fog is directly responsible for over 1% of vehicle crashes and over 2% of road fatalities. In addition, low visibility causes a drop of 12% in the vehicular capacity directly affecting the volume of goods that are transported during foggy weather.
Most multiple vehicle collisions and pileups are due to fog. This can be avoided using powerful fog lamps.
Market Forecast
Global LED Fog Lamp Market is expected to cross USD 3.11 billion by 2030 at a CAGR of 16.24%.
Market USP
Innovations in the automotive lighting sector have made LED Fog lamps very adept at penetrating all kinds of fog while increased consumer spending power have made them more affordable.
Key Players
- Osram
- HELLA Group
- Valeo SA
- Philips
- Magneti Marelli S.p.A.
- Robert Bosch GmbH
- IPF Corporation
- SL Corporation
- KOITO MANUFACTURING
- JDM Astar
Market Drivers
- Enhanced safety for the drivers
- LED has better fog penetrating capabilities than other light sources
- Introduction of stringent safety regulations
- Growing automotive aftermarket industry
Market Restraints
- Lack of knowledge about LED fog lamps and their impact
Segmentation
By Color
- White: The fastest growing segment of this market, white LED fog lamps have shown the best results at enhancing visibility.
- Yellow: This segment is seeing limited use due to a lack of scientific backing into the advantages of using yellow fog lights over white fog lights.
- Others: Fog lights used in the rear usually are red in color due to its elongated wavelength.
By Position
- Front: The largest segment, front fog auto lights dominate the market as they ensure active visibility for the driver and not passive visibility. This segment is predicted to dominate the market.
- Rear: Typically used in conjunction with front LED fog lamps, rear lamps are important to prevent multiple car collisions and for nighttime driving.
By Sales Channel
- OEM: The larger segment in the market, OEM’s are the top drivers for LED fog lamps in developed countries.
- Aftermarket: A very fast-growing segment, it is most prominent in developing countries and is used primarily for retrofitting vehicles without LED fog lamps or to install newer models.
By Vehicle Type
- Passenger car: With over 70 million passenger cars created in 2018 alone, this segment is the largest for the LED Fog Lamp market.
- Light commercial vehicle: Light commercial vehicles are now required to have fog lamps if they operate in certain areas of Europe that sees a lot of fog. This directive is driving the market for this segment.
- Heavy Commercial vehicle: These vehicles need to exercise the utmost safety when they ply the roads and are usually fitted with both, front and rear LED fog lamps. The safety regulations for heavy commercial vehicles is very stringent and their motility is directly impacted by the use if these devices.
By Region
- North America: A very large market due to the persistence of foggy conditions throughout Canada and most parts of the US, this market grows directly in proportion to the number of vehicles being purchased.
- Europe: Northern Europe sees foggy conditions for prolonged periods with Southern Europe seeing spells of fog for a few days each year, necessitating the use of LED fog lamps.
- Asia-pacific: The fastest growing market for Automobile Fog Light due to their better penetration and affordable costs.
- Rest of the World: Limited fog related weather in most of this region and limited road infrastructure makes this the smallest market for LED Fog lamps.
Report Attribute/Metric
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Details
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Market Size
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2030: USD 3.11 billion
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CAGR
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16.24% CAGR (2022-2030)
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Base Year
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2021
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Forecast Period
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2022-2030
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Historical Data
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2019 & 2020
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Forecast Units
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Value (USD Billion)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Segments Covered
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Color, Position, Sales Channel, Vehicle Type
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Geographies Covered
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North America, Europe, Asia-Pacific, and Rest of the World (RoW)
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Key Vendors
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Osram, HELLA Group, Valeo SA, Philips, Magneti Marelli S.p.A., Robert Bosch GmbH, IPF Corporation, SL Corporation, KOITO MANUFACTURING, JDM Astar
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Key Market Opportunities
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Increased consumer spending power have made them more affordable
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Key Market Drivers
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Enhanced safety for the drivers
LED has better fog penetrating capabilities than other light sources
Introduction of stringent safety regulations
Growing automotive aftermarket industry
|
LED Fog Lamp Market Highlights:
Frequently Asked Questions (FAQ) :
The LED fog lamp market is poised to grow at 16.24% CAGR.
The LED fog lamp market size is poised to touch USD 3.11 Bn by 2030.
The key contributors are Osram, Valeo SA, HELLA Group, Philips, Robert Bosch GmbH, Magneti Marelli S.p.A., IPF Corporation, KOITO MANUFACTURING, SL Corporation, and JDM Astar.
The OEM segment is presumed to secure the forefront position.
The white LED segment is projected to dominate the LED fog lamp market.
LED Fog Lamp Market
LED Fog Lamp Market is projected to be worth USD 3.11 billion by 2030, registering a CAGR of 16.24% during the forecast period (2022-2030)
$3.11 Billion
Market Size
North America
Dominating Region
2022-2030
Forecast Period
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