The latest advancements in connected vehicle technology and automotive lighting technology are expected to create lucrative opportunities for the growth of the global automotive auxiliary lamps market. 

Wilmington, Delaware, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Automotive Auxiliary Lamps Market by Type (Auxiliary High Beam, Front Fog Lamps, Cornering Lamps and Spotlights), Application (OEM and Aftermarket), and Vehicle Type (Passenger Vehicle and Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the automotive auxiliary lamps market was valued at $7.3 billion in 2022, and is estimated to reach $11.1 billion by 2032, growing at a CAGR of 4.3% from 2023 to 2032. 

The global automotive auxiliary lamps market is experiencing growth due to several factors such as surge in vehicle production and sales, increase in aftermarket demand, and rise in adoption of electric vehicles. Moreover, advancements in connected vehicle technology and automotive lighting technology are anticipated to offer remunerative opportunities for the expansion of the global automotive auxiliary lamps market during the forecast period.  

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Report coverage & details  

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$7.3 Billion
Market Size in 2032	$11.1 Billion
CAGR	4.3%
No. of Pages in Report	280
Segments Covered	Type, application, vehicle type, and region
Drivers	Surge in vehicle production and sales
	Increase in aftermarket demand
	Rise in adoption of electric vehicles
Opportunities	Growth in the connected vehicle technology
	Advancement in the automotive lighting technology
Restraint	High replacement and maintenance cost
	Stringent automotive industry regulations

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Segment Highlights  

Based on type the auxiliary high beam segment dominated the market share owing to the fact that auxiliary high beams significantly enhance visibility during night driving, especially on unlit rural roads and highways. As auxiliary high beams provide a wider and longer beam pattern than standard high beams, they help in improving road clarity and thus reducing the likelihood of accidents. Moreover, with the growing emphasis on road safety, the demand for auxiliary high beams is further anticipated to grow.   

Depending on application, the OEM segment dominated the market share, owing to the increasing demand for the repair and maintenance of old automotive auxiliary lamps. Moreover, the ageing vehicle fleet on roads requires continuous upgrades and replacement of older auxiliary lamps. Moreover, consumers prefer automotive auxiliary lamps from OEMs as they offer quality products, which meet safety standard set by regulatory bodies, further contributing to the market growth.  

On the basis of vehicle type, the passenger vehicle segment dominated the market share owing to the growing urbanization and the rising population in cities, driving the need for personal mobility solutions. Additionally, changing consumer preferences and growing disposable income contribute to the growing demand for passenger cars. Furthermore, the rising environmental concerns toward reducing emissions from vehicles are resulting in increasing demand for electric and other alternative fuel vehicles, which is further fueling the demand for passenger vehicle segment.  

Regional Outlook  

The growing population and increasing disposable income in developing countries such as India, Mexico, Indonesia, China, and others have resulted in increase in sales and production of passenger vehicles. Moreover, the growing vehicle sales in Asia-Pacific is majorly attributed to rapid technological advancements in the automotive industry by local automakers. This trend has resulted in the launch of new vehicle models. Likewise, the growth in affordable financing options, such as increased loan approvals and lower interest rates, as well as automotive dealership financing options, such as zero-interest financing, are further boosting automotive sales.   

Key Market Players

• HELLA GmbH & Co. KGaA  
• LAMPA SpA  
• Suprajit Group  
• OSRAM GmbH.  
• STANLEY ELECTRIC CO., LTD.  
• ICHIKOH INDUSTRIES, LTD.  
• Lazer Lamps Ltd  
• J.W. Speaker Corporation  
• Venta Global Ltd  
• VALEO SA  

The report provides a detailed analysis of these key players in the global automotive auxiliary lamps market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.   

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Recent Developments

• On April 16, 2024, OSRAM GmbH Germany joined forces with Malaysia-based automotive LED maker, DOMINANT Opto Technologies in a strategic partnership aimed at integrating ams OSRAM’s Open System Protocol. The collaboration will look after fostering innovation and promoting technological compatibility within the automotive lighting sector. 
• On February 1, 2022, Faurecia acquired a controlling stake in Hella GmbH & Co. KGaA, seeking to increase its presence in electrification and self-driving technology.   

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