LeapZipBlog: Steve Blade's blog: Automotive Tail Light Market: Plastic Tail Lights will Continue to Reign Supreme Over their Metallic Counterparts

Automotive Tail Light Market: Plastic Tail Lights will Continue to Reign Supreme Over their Metallic Counterparts

May 20, 2019 by Steve Blade  

 Rear-end crashes are one of the most frequently occurring type of collision leading to significant number of injuries and fatalities each year. Several initiatives have addressed the problem of rear-end crashes over the years, with limited success. Pertinent players in automotive tail light market sees a ray of hope, and has been adopting sophisticated lighting technologies.

There has been growing traction for light-emitting diode or LED tail lights which presents an array of advantages compared to standard lights. Better road safety has been upped by LED lights with through providing higher visibility to cars at night, thereby assuring better safety in driving. Though an LED tail light may aid people in saving more in the long run, the initial cash outflow incurred in the purchase of the lighting mechanism for vehicles may be expensive.

Having said that, advantages presented by LED tail lights have an edge over their disadvantages. Accordingly, automotive manufacturers are integrating LED technology into their cars. At the present scenario, LED is primarily being used as car tail lights which offers sanguine picture for players in automotive tail light market.

At the time when there is rising concern with respect to greenhouse gas emission, automotive manufacturers are tilting towards lightweight vehicular component materials—plastics. As compared to metals, plastics will be dominant owing to lightweight nature, high endurance and translucency.

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.

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Automotive Tail Light Market: Overview

This report presents a robust analysis on automotive tail light market with the support of quantitative and qualitative analysis. The report reveals the dynamics of the market, including drivers, opportunities, trends and restraints which have considerable impact in the growth of the market. The report also includes segregation of the market to offer an in-depth analysis of the automotive tail light.

The report encompasses executive summary followed by market overview section. The automotive tail light market overview section deals with value chain analysis, key trend analysis and Porters’ Five Force Analysis. Porters’ Five Force Analysis gives insights on competitive scenario of the market. The report also includes the market attractiveness analysis along with market outlook. The report also includes pricing analysis and market volume projections. Further, the report provides holistic approach on consumer behavior analysis and major distributors’ lists. The report also provides assessment on supply chain and cost structure analysis along with pricing analysis.

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 is yet to discover its complete 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.

The actionable insights in the report is the result of primary sources, including surveys, interactions in person, a reliable and authentic views of seasoned analyst, interviews and perusal of experts. In addition, the report is propelled by secondary sources incorporating trade journals, resourceful database and authentic and verified paid sources. The report is also backed up by absolute dollar opportunity analysis which has considerable influence in shaping the growth of the automotive tail light market.

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.

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