Press release
Global Automotive Tail Light Market Trends, Analysis, Leading Players & Future Forecast by 2022
Fact.MR
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Fact.MR’s latest report projects that the global market for automotive tail light will expand at a miniscule CAGR between 2017 and 2022 to reach a valuation in excess of US$ 12,238 Mn. Traditionally, tail light has been an essential auto component but its limited scope of utility is undermining the prospects of its global market. Which is why, manufacturer are now trying to incorporate advanced lighting technologies in order to make their products more viable. For many years now, automotive tail lights have been serving as an important vehicle safety component that allows drivers to give signals or indications to other vehicles, helping avoid or-road collisions. In addition, many of the modern tail light designs also help in improving the looks of the car. The global market for automotive tail light is expected to be influenced by the incessant growth of the overall automotive industry in emerging countries such as China and India. Over the past couple of years, the global demand for vehicles has increased in leaps and bounds, which reflected positively on the automotive tail light market as well.
Halogens to Remain the Most Desirable Tail light Source
On the basis of tail light source, the halogen segment is expected to command for around half of the market revenues by 2017-end. In addition, the segment is expected to reach a market valuation of US$ 6,537 Mn towards the end of forecast period. Meanwhile, the led segment is project to witness a faster CAGR, creating a robust absolute $ opportunity between 2017 and 2022.
By vehicle type, the passenger car segment currently accounts for little under one-half revenue share of the market and is expected to maintain its dominant position throughout the forecast period. By the end of 2022, this segment is expected to exceed a valuation of US$ 4,909 Mn, registering a listless CAGR.
Preference for Plastic Tail Lights will Remain Strong
In terms of revenue, plastic tail lights are expected to account for more than two-third share of the market by 2017-end. Plastic, being translucent, easy moldable and light-weight remains one of the most suitable material for tail light manufacturing. By 2022, around US$ 9,929.1 Mn worth plastic tail lights are estimated to be sold globally.
Based on sales channel, aftermarket will continue to be the predominant segment of the market over 2022. The aftermarket segment is expected to witness a moderate CAGR to reach a significant market valuation by the end of assessment period.
Competitive Dashboard
General Electric Company, Robert Bosch GmbH, Koninklijke Philips N.V., Koito Manufacturing Co., Ltd., HELLA KGaA Hueck & Co., OSRAM Licht AG , Valeo S.A., UNOMINDA, Stanley Electric Co. Ltd., Phoenix Lamps Limited, and Sammoon Lighting & Electrical Co., Ltd. are some of the top companies operating in the global automotive tail light market. Rising consumer demand for specific features and styling is pushing many of these manufacturers to incorporate leading-edge lighting technology in their products.
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Table of Content
Chapter 1. Global Automotive Tail Light Market Market - Executive Summary. 31
Chapter 2. Global Automotive Tail Light Market Market Overview. 33
2.1. Introduction. 33
2.1.1. Global Automotive Tail Light Market Market Taxonomy. 33
2.1.2. Global Automotive Tail Light Market Market Definition. 33
2.2. Global Automotive Tail Light Market Market Size (US$ Mn) and Forecast, 2012-2022. 33
2.2.1. Global Automotive Tail Light Market Market Y-o-Y Growth. 33
2.3. Global Automotive Tail Light Market Market Dynamics. 34
2.3.1. Drivers. 34
2.3.2. Restraints. 34
2.3.3. Trends. 34
2.4. Supply Chain. 35
2.5. Cost Structure. 35
2.6. Pricing Analysis. 35
2.7. Raw Material Sourcing Strategy and Analysis. 35
2.8. List of Distributors. 36
2.9. Key Participants Market Presence (Intensity Map) By Region. 36
Chapter 3. Global Automotive Tail Light Market Market Analysis and Forecast By Tail Light Source. 37
3.1. Global Automotive Tail Light Market Market Size and Forecast By Tail Light Source, 2012-2022. 37
3.1.1. Halogen Automotive Tail Light Market Market Size and Forecast, 2012-2022. 37
3.1.1.1. Revenue (US$ Mn) Comparison, By Region. 37
3.1.1.2. Market Share Comparison, By Region. 38
3.1.1.3. Y-o-Y growth Comparison, By Region. 39
3.1.2. LED Automotive Tail Light Market Market Size and Forecast, 2012-2022. 39
3.1.2.1. Revenue (US$ Mn) Comparison, By Region. 39
3.1.2.2. Market Share Comparison, By Region. 41
3.1.2.3. Y-o-Y growth Comparison, By Region. 42
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Automotive Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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