The GCC Automotive Lighting Market is expecting around 6.50% CAGR during 2021-26, cites MarkNtel Advisors in their recent research report. The rising road accidents across the GCC region are compelling governments of different countries to impose stringent regulations associated with vehicle safety & maintenance. It, in turn, is augmenting the demand for proper lighting systems to ensure that vehicles can be driven safely on roads during situations like heavy traffic, changing climatic conditions, etc., thereby propelling the market growth.
Moreover, with rapid technological advancements, manufacturers are integrating features like object detection, an easy adjustment in changing lights, etc., into their automotive lighting systems to allow drivers to make appropriate decisions. Hence, the aspects cited above are projected to play a crucial role in attracting a huge customer base across GCC for automotive lighting systems and, in turn, boost the overall market through 2026, further states the research report, “GCC Automotive Lighting Market Analysis, 2021.”
Growing Trend of Deploying LEDs & DRLs to Drive the Market through 2026
Amongst all applications of automotive lighting systems, the Rear application dominated the GCC Automotive Lighting Market with the largest share in previous years, and the same trend is likely during 2021-26. It owes principally to the growing demand for aesthetic & energy-efficient lighting in taillights of vehicles, i.e., instigating the leading players to introduce a combination of lights that can perform multiple functions through a single unit. Besides, the growing trend of installing LED headlamps in the rear of vehicles is another crucial expected to drive the market through 2026.
Increasing Vehicle Fleet owing to Improving Economy across Saudi Arabia to Boost the Market
Saudi Arabia is the largest market for Automotive Lighting systems across the GCC. With an improving economy, changing living standards, and escalating interest of people in owning private vehicles, the country is witnessing rapidly growing sales of passenger vehicles.
It, in turn, is generating growth opportunities for automakers to increase their production capacities, which, in turn, is positively influencing the automotive lighting market growth across Saudi Arabia. Besides, an escalation toward rental cars & purchasing second-hand vehicles are also projected to infuse the demand for automotive lighting components across the country and fuel the overall market growth in GCC through 2026, reveals MarkNtel Advisors in their research report, "GCC Automotive Lighting Market Analysis, 2021."
The leading players in the GCC Automotive Lighting Market are Hella Middle East, OSRAM Middle East, and Valeo.
Key Questions Answered in the Research Report: