MarkNtel Advisors recently published a detailed industry analysis of the GCC Automotive Lighting Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
GCC Automotive Lighting Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028
The GCC Automotive Lighting Market is projected to grow at a CAGR of around 6.50% during the forecast period, i.e., 2023-28.
What are the major Driver the GCC Automotive Lighting industry?
Escalating Demand for Electric Vehicles Boosted the Sales of Automotive Lighting – The demand for electric vehicles are increasing considerably across the GCC countries like the UAE, Saudi Arabia, etc., during the past few years, which has enhanced the sales of automotive lighting. The major factor contributing to the enhanced adoption of an electric vehicles is the advancing charging infrastructure across these countries. Several companies like Siemens, ABB E-mobility, etc. have been installing electric charging infrastructures across the region, which is enhancing the adoption of EVs among consumers. For instance,
- In 2023, GO TO-U and FYSH EVC LLC are partnering to provide a seamless charging experience across Dubai, to improve its charging infrastructure.
- In 2022, ABB E-mobility installed EV chargers for electric vehicles across 100 strategic locations in Saudi Arabia.
Consequently, with the improvement of charging infrastructure across the region, and amplified sales of electric vehicles, the GCC Automotive Lighting Market is anticipated to increase further in the forecasted years.
Possible Restraint: Shortage of Semiconductor Chip to Hamper the Sales of Automotive Lighting Across GCC
The global shortage of semiconductors especially initiated during Covid-19 due to the reduction in wafer fabrication units has negatively impacted the manufacturing & sales of vehicles in GCC region over the past few years. With the reduction in the manufacturing & sales of vehicles, the demand for automotive lighting also decreased substantially across the GCC region during the historical years. During Covid-19, most companies involved in wafer fabrication of semiconductor chips like Global Foundries, United Microelectronics Corporation (UMC), etc., had paused their procedure due to the lack of demand for the same. This has negatively affected the supply & sales of automobiles in the GCC region, as semiconductor chips are an integral part of vehicles.
Moreover, the shortage of semiconductors persisted even after the resumption of activities after Covid-19, owing to the fact that it takes almost 26 weeks to complete the production of wafers from start to completion after the production unit comes online. Henceforth, with arising factors affecting the supply chain of semiconductor chips have been negatively affecting the sales of automobiles, which further reduced the aftermarket demand for automotive lighting in the GCC region during 2023-2028.
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What segments define the GCC Automotive Lighting Market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
By Technology
- Halogen
- LED
- Xenon
By Application
- Front/Headlights
- Rear
- Side
- Interior Disposable
According to report, Here, the Rear application acquired the largest share in the GCC Automotive Lighting Market in previous years, and their dominance is likely even during 2023-2028.
By Vehicle Type
- Two Wheelers
- Passenger Cars
- Commercial Vehicles
- Light Commercial Vehicles
- Medium & Heavy Commercial Vehicles
By Demand Type
- OEMs
- Aftermarket
Explore the Complete GCC Automotive Lighting Market Analysis Report –
https://www.marknteladvisors.com/research-library/gcc-automotive-lighting-market.html
Geographical Analysis: GCC Automotive Lighting
By Country
- The UAE
- Saudi Arabia
- Oman
- Bahrain
- Kuwait
- Qatar
GCC Automotive Lighting Market Share & Competitive Landscape:
The GCC Automotive Lighting Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the GCC Automotive Lighting Market are:
- Hella Middle East
- OSRAM Middle East
- Koito Manufacturing Co. Ltd
- Hyundai Mobis
- Robert Bosch GmbH
- Koninklijke Philips N.V.
- Denso Corporation
- Magneti Marelli S.p.A.
- SABIC
- Valeo
- Others
Questions Addressed in this Study
1.What factors are driving the GCC Automotive Lighting Market growth?
2.How is the GCC Automotive Lighting Market expected to grow over the next five years?
3.What are the key insights into the current trends in the GCC Automotive Lighting Market?
4.What is the current size of the GCC Automotive Lighting Market, and how is it projected to change in the future?
6.What is the future outlook for the GCC Automotive Lighting Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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