GCC Automotive Lighting Market Overview:

According to MarkNtel Advisors study the GCC Automotive Lighting Market is projected to grow at a CAGR of around 6.50% during the forecast period, i.e., 2023-28. The growth of the market is driven primarily by the burgeoning vehicle sales across different countries in GCC and the rapidly increasing road accidents & stringent government regulations to reduce them.

Key Findings of the Study: GCC Automotive Lighting market

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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Scope of the GCC Automotive Lighting Market Report Segmentation

-By Technology

  • Halogen
  • LED
  • Xenon

-By Application

  • Front/Headlights
  • Rear
  • Side
  • Interior Disposable

-By Vehicle Type

  • Two Wheelers
  • Passenger Cars
  • Commercial Vehicles

-By Demand Type

  • OEMs
  • Aftermarket

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Geographical analysis:

-By Country

  • The UAE
  • Saudi Arabia
  • Oman
  • Bahrain
  • Kuwait
  • Qatar

Of all countries in GCC, Saudi Arabia is expected to dominate the Automotive Lighting Market with the largest share during 2023-2028. It owes principally to the rapidly increasing automotive sales, especially passenger vehicles, across the country due to the improving economic conditions, changing living standards, & growing inclination of people toward private vehicle ownership.

It, in turn, is directly influencing the demand for automotive lighting and instigating manufacturers to increase their production capacities to meet the mounting consumer demand across Saudi Arabia. Besides, automobiles are more like a status symbol than a need for the Saudi people. Hence, they are playing a significant role in rapidly increasing vehicle sales and the mounting demand for lighting components across Saudi Arabia, which, in turn, is fueling the overall market growth.

Current Landscape of GCC Automotive Lighting Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the GCC Automotive Lighting market. The research report profiles major players, including

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  • 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

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