Global Automotive Tail Light Market Overview:
Automotive tail lights are the group of lights which are fixed at the rear end of vehicle. These group of lights consists of brake lights, reverse lights and indicators. The brake lights are red and are connected to front lamps. Also, the LEDs with bright red color are lit up when the driver presses brakes. When the lights are combined with brake lights, these type of lamps are called dual intensity lights. Moreover, the fog lights are also installed which are used for rear visibility at the time of foggy conditions.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Introduction of Advanced Lighting in Low and Mid Segment Cars
Market Growth Drivers:
Penetration of advanced lighting systems in passenger cars is driving the market growth. There has been increase in sales of passenger cars as compared to others. Also the consumers are paying more for added features in the car which is contributing towards the market growth.
Challenges:
Logistics and Supply Problems, Energy Cost Overruns, Skilled Labor Problems
Restraints:
LED in Tail Lights is increasing the Costs
Opportunities:
Government Regulations for Lighting Along with Road Safety Concerns are boosting the Market and Increasing Requirement of Transportation
Competitive Landscape:
Automotive Tail Light is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Anzo (Belgium), Spyder (United States), Westin Automotive (United States), GE Lighting (United States), Osram Sylvania (United States), Philips (Netherlands), Bosch (Germany), Automotive Lighting (Germany), Magneti Marelli (Italy) and Federal-Mogul (United States). Additionally, following companies can also be profiled that are part of our coverage like Hella (Germany), Koito (Japan), Eiko (United States) and Stanley (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global Automotive Tail Light market by 2028. Considering Market by Vehicle type, the sub-segment i.e. Passenger cars will boost the Automotive Tail Light market. Considering Market by Body material, the sub-segment i.e. Polycarbonate will boost the Automotive Tail Light market. Considering Market by Distribution channel, the sub-segment i.e. OEM will boost the Automotive Tail Light market.
Latest Market Insights:
On 5th March 2019, Wesco international Inc. has completed the acquisition of assets of Sylvania lighting solutions from OSRAM Sylvania
In December 2020, Westin Automotive Products, Inc. acquired Hint Mounts, a Meriden, Connecticut-based company operating in the public safety vehicle and electronics markets. Hint's products include computers, tablets, keyboards, monitors and specialty mounts, consoles, rear organizers, and electronics for cars, trucks, and specialty applications.
What Can be Explored with the Automotive Tail Light Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Automotive Tail Light Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Automotive Tail Light
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Tail Light market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Automotive Tail Light market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.