Report ID: SQMIG25A2269
Report ID:
SQMIG25A2269 |
Region:
Global |
Published Date: March, 2024
Pages:
153
|
Tables:
115 |
Figures:
75
Global LED Fog Lamp Market size was valued at USD 910.2 million in 2022 and is poised to grow from USD 1.05 billion in 2023 to USD 3.51 billion by 2031, growing at a CAGR of 16.2% in the forecast period (2024-2031).
LED fog lamps are specially designed automotive lamps that are used in poor visibility conditions to provide extra light for the driver. These lighting fixtures are often used in bad weather conditions such as extreme rain, snow, and dust storms to improve the visibility for drivers and avoid accidents. High focus on vehicle safety and surging automotive production are key factors that could bolster the demand for LED fog lamps across the forecast period and beyond. Growing number of people engaging in adventurous driving and driving onto rough terrain and unfavorable conditions is also slated to promote the sales of LED fog lamps over the coming years. of new government norms mandating the use of fog lamps is also slated to bolster market growth in the future.
Advancements in LED lighting technology are slated to have a major influence on how the LED fog lamp market progresses in the long run. Meanwhile, the high costs of LED fog lamps as compared to traditional fog lamps and their limited compatibility with older vehicle models are estimated to be key restraints slowing down LED fog lamp market growth across the forecast period and beyond.
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Report ID: SQMIG25A2269