The GCC Automotive
Lighting market is propelling at an astronomical rate owing to the factors such
as surging demand for halogen lights, rising sales of high-end passenger cars such
as SUV and Sedan, coupled with burgeoning adoption of technologically advanced
lighting systems and launch of innovative led lighting. Along with this, the significantly
growing population, burgeoning demand for automobiles due to a growing
disposable income and snowballing inclination toward the installation of laser
and LED lights in the automobiles are anticipated to place a positive impact
toward the growth of the market in the forecast period.
The COVID-19 crisis in the first half year of 2020 has impacted the demand for automotive lightning due to adversely disrupted supply chain of automotive in the GCC region on account of close border, temporary closure of the manufacturing units and imposition lockdown situation. However, the market is anticipated to grow in the near future owing to rising production of the automotive vehicles began in full swing.
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Based on Type, LED segment is expected to attain highest CAGR in the coming years. The rising adoption of automotive lighting as energy and resources are becoming scarcer and more expensive which helps in enhancing the efficiency of the vehicles along with it offer excellent quality emitting diodes, strength and durability. Hence, this has greatly shifted the attention of the vehicle manufacturers toward the installation of LED in the automotive lighting industry. Moreover, rapid increase in the number of LED modules in automobile lighting is projected to fuel the growth of the market in the coming years.
The key players with a considerable market share in the GCC Automotive Lighting market include Hella Middle East, OSRAM Middle East, Valeo, etc.
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