The rising consumption of automobiles and the changing lifestyle of consumers have increased the market share of car accessories resulting in an increase in the automotive grille illumination market. Primary function of the grille is to provide a gateway for air to maintain an absolute temperature of vehicles. Apart from its function of being a coolant, look of automobiles also plays an important role from the consumer’s point of view.
Automotive grille illumination market is expected to grow with a high CAGR in future because of the kind of style statement it provides apart from its principle operation of letting air inside to maintain the temperature of the vehicle.
Many big brands have used automotive grilles by putting their brand names on it. For example, Jeep has a 7 bar grille style, Rolls Royce grilles are hand designed with such precision that they appear perfectly vertical.
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Increasing demand for the automobile accessories, growing consumer spending on these products and rising vehicle consumption in the younger generation are the key drivers in increasing the growth of automotive grille illumination products.
The growth of the automobile industry and the increase in the sales of passenger cars, trucks, etc. are further likely to increase resulting in developing opportunities for the automotive grille illumination manufacturers.
The biggest challenge of automotive grille illumination market is the availability of inferior products especially in the Asian regions which has hampered the growth of automobile grille illumination market.
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The automotive grille illumination market is segmented on the basis of the type of grilles, type of illuminations, by sales, type of vehicle, and region.
On the basis of the type of grilles used, the automotive grille illumination market is segmented into Bumper skirts grille, Hood scoop grille, Radiator grille, Fender grilles and Trunk grilles.
On the basis of the type of illumination used, the automotive grille illumination market is segmented into LASER and LED’s.
On the basis of type of vehicle, the automotive grille illumination market is segmented into commercial vehicles, and passenger cars. Commercial vehicles are further segmented into Medium Commercial Vehicle (MCV), Light Commercial Vehicle (LCV), and High Commercial Vehicle (HCV). Similarly, passenger cars are further categorized into large cars, mid-size cars, and compact cars.
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On the basis of geographies, the automotive grille illumination market is segmented across 7 key region; North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. Automotive grille illumination market has the highest market share in the developed regions like North America and Europe followed by Latin America.
Few of the major key players active in the automotive grille illumination market include Pecca group Berhad, Lloyd Mats, Star Automotive Accessories, Pioneer Corporation, U.S Auto Parts Network Inc., Classic Soft Trim, Momo Sri, Garmin Ltd
Overall it can be concluded that the growth prospects of the automotive grille illumination market are promising, as adoption across most of the regional markets is set to increase in the foreseeable future, with substantial projected gains in the automotive sector.
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