Automotive Fog Light Market to Surpass US$ 7.1 Billion by 2030
The global automotive fog light market size is estimated to reach US$ 3.8 Billion in 2022 and further expand at 8.1% CAGR between 2022 and 2030. Sales in the market are expected to surpass a valuation of US$ 7.1 Billion by the end of 2030.
Rising production and sales of automotives across the world is a key factor proving impetus to the growth of automotive fog light market and this trend is likely to continue during the forecast period.
Similarly, rising demand for passenger vehicles, increasing sales of fog lights in the aftermarket, rise in premium and SUV sales, and developments in lighting technology are expected to bolster the growth of automotive fog light market during the forthcoming years.
Furthermore, growing focus towards improving safety of passengers to reduce road accidents coupled with implementation of stringent safety norms will further generate demand for automotive fog lights over the next 8 years.
Regionally, Asia Pacific, spearheaded by India, China, and Japan, will continue to remain at the top of the ladder in automotive fog light market. Sales in Asia Pacific are expected to account for the largest revenue share by 2030.
\Rising production and sales of automotives across the world is a key factor proving impetus to the growth of automotive fog light market and this trend is likely to continue during the forecast period.
Similarly, rising demand for passenger vehicles, increasing sales of fog lights in the aftermarket, rise in premium and SUV sales, and developments in lighting technology are expected to bolster the growth of automotive fog light market during the forthcoming years.
Furthermore, growing focus towards improving safety of passengers to reduce road accidents coupled with implementation of stringent safety norms will further generate demand for automotive fog lights over the next 8 years.
Regionally, Asia Pacific, spearheaded by India, China, and Japan, will continue to remain at the top of the ladder in automotive fog light market. Sales in Asia Pacific are expected to account for the largest revenue share by 2030.
No comments: