Key Insights: Global Automotive Tail Light Market
- Halogen will continue to be the most sought-after tail light source in the global automotive tail light market, with more than half of the total value of the global automotive tail light market.
- FMR projects a relatively higher CAGR for LED through 2022.
- With an estimated US$ 5 Bn revenue by the end of 2022, passenger cars are foreseen to remain the most attractive vehicle type for automotive tail light manufacturers.
- Plastic tail lights will continue to reign supreme over their metallic counterparts, attributed to high endurance, lightweight nature, and translucency of the former.
- Aftermarket, with projected sales revenue worth over US$ 8 Bn by 2022 end, is likely to maintain the maximum revenue share in the global automotive tail light market throughout the assessment period.
- China, the global manufacturing hub, has been one high-potential market for automotive tail light over the years. Lower Price point in terms of raw material as well as labor will continue to enable Chinese market for automotive tail light remain the key revenue generator over 2017-2022.
Ever-evolving consumer preferences, coupled with increasing mandates from governmental regulatory bodies, are pushing the incorporation of advanced technology solutions into automobiles – attracting automakers and technology giants alike.
Growing consumer demand for sleek, lightweight, and functional vehicles is fueling innovations in each structural and functional vehicular component, including automotive tail light.
With the functionality as well as design becoming imperative to automotive product offerings, manufacturers of automotive tail lights have started to shift their focus from only design and aesthetics to enhanced functionality.
Over the five-year assessment period, the global market for automotive tail light has been projected to follow a passive growth curve at a CAGR of 3.8%, reaching the value in excess of US$ 12 Bn by 2022 end.
As indicated by the global market intelligence on automotive tail light that has been recently published by Fact.MR, the global market for automotive tail light is among those auto components that are yet to discover its completely functional and aesthetic applicability beyond conventional functional utilities in the automotive space, which will continue to influence the performance of the global automotive tail light market throughout the forecast period.
Although tail lights hold a limited application base in the automotive industry, their vital function continues to enable them to remain a key auto component.
With rapidly growing efforts by both automakers and automotive tail light manufacturers to dig deeper into the next-generation applicability of automotive tail light, Fact.MR estimates that the market for automotive tail light will possibly witness a series of new growth opportunities over 2017-2022.
Automotive Tail Light Market: About the Report
FMR’s research report on the global automotive tail light market analyzes the prospects for the overall performance of the automotive tail light market during the examination period, providing pragmatic insights on the scenario of the global market for the automotive tail light.
The key objective of the report on the automotive tail light market is to help participants in the global automotive tail light marketplace devise and execute informed developmental strategies through a thorough understanding of the automotive tail light space.
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Automotive Tail Light: Market Definition
An automotive taillight is a rearward-facing red light mounted on the back of an automotive. Working in a relay with headlights, automotive tail lights serve the primary function of maintaining the safety aspect of vehicles.
With escalating incorporation of advanced technologies in automobile components, automotive taillights have been undergoing innovation over the past decade – creating a slew of potential growth opportunities for automotive tail light manufacturers in the upcoming few years.
Additional Questions Answered by Global Automotive Tail Light Market Report
- What potential opportunities are likely to emerge in the automotive tail light market, as plastics are expected to witness the maximum adoption by automakers?
- Will LED and OLED technology-enabled automotive tail lights take over the ever-dominant automotive tail light source – halogen - in the near future?
- How does the prospective competitive landscape scenario appear, if considered in resonance with the increasing shift of manufacturers to advanced technology?
- With China forging ahead at a massive pace, what could be the prospects for neck-on-neck competition between markets in North America, Europe, and APEJ for automotive tail light?
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Competition Analysis: Automotive Tail Light Market
A majority of automotive tail light manufacturers are focusing on tail light functionality improvement by adopting the latest technologies such as LED and OLED.
Embracing the technological advances will additionally help manufacturers of automotive tail light achieve attractive design, appealing aesthetics, and avant-garde functionality of automotive tail light.
Recently, Hella – the electronics and lighting expert, announced the integration of the OLED technology into the rear combination lamps of Audi’s new flagship car- A8.
This innovation involves four upright OLED tail lights in each unit, and serves distinctive attributes for vehicular manufacturers (VMs) with sophisticated lighting functions.
According to the lighting technology experts at Hella, the vehicular lighting technology can eliminate the need for additional optics, reflectors, and light guides – post adoption of the new OLED technology.
Fact.MR recently released an extensive global market intelligence on automotive tail light that offers comprehensive information about the global automotive tail light market over the five-year forecast period, 2017-2022.
The report, titled “Automotive Tail Light Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022,” assesses the global market for automotive tail light within the said timeline, and renders valuable insights on each of the aspects associated with the performance of automotive tail light market through 2022.
The automotive tail light market report breakdown in 15 chapters facilitates understanding of the individual sections of the report and helps understanding of the global automotive tail light market, covering everything from market definition to market competition.
Chapter 1: Executive Summary of Global Automotive Tail Light Market Report
The report starts with quick insights on the global market for automotive tail light through an executive summary that introduces readers to the report to the overall scope of the report with significant statistical figures and facts about the global automotive tail light market.
Chapter 2: Global Automotive Tail Light Market Overview
This chapter offers an overview of the global automotive tail light market. The sub-chapters include automotive tail light market introduction, product definition, market sizing (US$ Mn), and market forecast (Y-o-Y and CAGR) over the XX-year investigation period, 2017-2022.
The next part of this chapter involves the analysis of key dynamics associated with automotive tail light market, such as key growth drivers and restraints, and impactful market trends.
The report further discusses supply chain, cost/pricing structure and analysis, and strategy and analysis of raw material. With a detailed list of key distributors in automotive tail light market, the report also offers an analysis of the region-wise presence of key market participants.
The next few chapters of FMR’s automotive tail light market report throw light on the key taxonomy of the global market for automotive tail light, offering a comprehensive assessment of the global automotive tail light market segmentation – based on various attributes.
Chapters 3-6: Global Automotive Tail Light Market Segmentation
The report offers region-wise market sizing and forecast analysis of all the segments and sub-segments of the global automotive tail light market in these chapters. The key segmentation has been done on the basis of tail light source, vehicle type, material type, and sales channel.
Chapter 7-13: Global Automotive Tail Light Market: Regional Segmentation
This chapter of FMR’s report on the global market for automotive tail light market provides individual as well as country-wise analysis of six key regional markets for automotive tail light at a global level. While the regions covered here include North America, Latin America, Europe, Japan, Asia Pacific (excluding Japan), and Middle East and Africa (MEA), the chapter provides revenue comparison analysis for each of these based on tail light source, vehicle type, material type, and sales channel.
Chapter 14: Competition Tracking - Global Automotive Tail Light Market
This chapter of the global automotive tail light market report offers in-depth tracking of the competitive landscape of the market for automotive tail light at a global level.
With exhaustive profiling of around 10-12 companies, manufacturers, suppliers, and distributors operating in the automotive tail light ecology, this part of the report offers strategic insights on each competitor's company and product overview, financial status, key developments, SWOT analysis, and revenue projections.
With the commitment to providing independent and unbiased research insights on the global automotive tail light market, Fact.MR has prepared the global automotive tail light market report only after months of extensive research process.
Banking equally on the traditional, tried-and-tested methodologies of research and innovative market research methods, the expert research consulting team at FMR strives to deliver an exhaustive yet precise set of data points.
While a series of secondary research sources and the entire primary research process have remained of paramount importance for FMR to mine the accurate information on the global automotive tail light market, a few other research techniques have also been adopted for a multifocal lookout at the global market for automotive tail light – focused interviews, trade research, and social media analysis.
The scope of the global automotive tail light report market report published by FMR is to offer a set of unbiased and accurate insights on the growth prospects of the automotive tail light market at a global level.
The insights provided by this report are expected to benefit various stakeholders in the global automotive tail light marketplace, including manufacturers, suppliers, automakers, dealers, distributors, and aftermarket operators.
It also aims to help leading automotive trade magazines and journals gain deep-dive insights on the automotive tail light market, enhancing and fulfilling the areas of their interests.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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