What is Automotive Taillights Market?
Automotive taillights are red and yellow lights mounted at the rear end of the vehicle. These lights are an integral component of the vehicle, as they indicate its presence to vehicles behind it. It played an important role in preventing backend collisions. LED taillights consume less amount of energy and have a longer life than that of conventional taillights. Therefore, these are gaining popularity in the global automotive industry globally.
Highlights from Automotive Taillights Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Koninklijke Philips N.V. (Netherland), Koito (Japan), Hella (Germany), Marelli (Italy), Osram (Germany), Valeo (France), Continental (Germany), Bosch (Germany), Varroc (India), Hyundai Mobis (South Korea), Denso (Japan), North American Lighting (United States), Renesas (Japan), Lumax (India), Aptiv (Netherlands), Grupo Antolin (Spain), Lear Corporation (United States), Keboda (China), NXP (Netherlands), Gentex (United States), FlexNGate (United States), Federal-Mogul (United States), Stanley Electric (Japan), Ichikoh (Japan) and Zizala (Austria) |
Research Analyst at AMA predicts that United States, Japanese and German Manufacturers will contribute to the maximum growth of Global Automotive Taillights market throughout the forecasted period.
Koninklijke Philips N.V. (Netherland), Koito (Japan), Hella (Germany), Marelli (Italy), Osram (Germany), Valeo (France), Continental (Germany), Bosch (Germany), Varroc (India), Hyundai Mobis (South Korea), Denso (Japan), North American Lighting (United States), Renesas (Japan), Lumax (India), Aptiv (Netherlands), Grupo Antolin (Spain), Lear Corporation (United States), Keboda (China), NXP (Netherlands), Gentex (United States), FlexNGate (United States), Federal-Mogul (United States), Stanley Electric (Japan), Ichikoh (Japan) and Zizala (Austria) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Lumileds Holding B.V (Netherland), Fiem Industries Ltd (India), Peterson Corporation, LLC (United States), Grote Industries (United States) and Indak Manufacturing Corporation (United States). Automotive Taillights Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | Passenger Car, Light Commercial Vehicle (LCV), Bus, Truck and Other |
Type | Incandescent Lamps, Light Emitting Diodes (LED), High Intensity Discharge (HID) and Neon Tubes |
Technology Type | Halogen,LED,Xenon |
On the basis of geography, the market of Automotive Taillights has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Increase in Demand for Luxury Vehicles in both Developing and Developed Nations and Lighting Regulations for Better Visibility and Safety
Challenges:
The Volatility of Raw Material Prices, Increase in Competition From Local Companies Offering Counterfeit/Retrofit Solutions and Low Penetration of Advanced Lighting in Commercial Vehicle
Restraints:
High Cost of LED Lights and Low Penetration of Advanced Lighting in Hatchback, Compact Sedan, and Entry-Level Suv
Opportunities:
The Growth in the Production and Sales of Automobile Globally, Increasing Partnership Between Automotive OEMs and Lighting System Manufacturers and The Advent of New Technologies in the Production of Automotive Taillights
Key Target Audience
Automotive Taillights Manufacturers, Raw Material Suppliers/Distributors, Automotive Companies, Technology Providers and Others
Market Leaders & Development Strategies
In August 2021, lighting and electronics specialist HELLA and French automotive supplier Faurecia signed an agreement regarding the merger of the two companies. As part of the transaction, Faurecia will acquire a 60% stake held by HELLA pool shareholders. In addition, Faurecia announced a voluntary public tender offer for the remaining HELLA shares at 60 euros per share (total offer price of 60.96 euros, including an expected dividend of 0.96 euros per HELLA share).
In July 2019, a deer on the side of the road, a black biker with a faulty tail light - a lot of elements on a dark road. Driving situations like this can be made safer with intelligent lighting. One of the goals of OSRAM Continental, a joint venture between lighting specialist OSRAM and technology company Continental, is to take these capabilities to the next level. The innovative HD headlight system showcased by OSRAM Continental at the show car at Continental TechShow represents a first step in this direction.