Rockville, MD -- (SBWIRE) -- 06/27/2019 -- 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 global market for automotive tail light. The key objective of the report on automotive tail light market is to help participants in the global automotive tail light marketplace devise and execute informed developmental strategies through thorough understanding of the automotive tail light space.
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.
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.
"Adoption of the latest lighting technologies by automotive industry leaders will possibly open multiple doors of growth opportunities for automotive tail light manufacturers, forestalling the visible decline of the global automotive tail light market over 2017-2022." – Consulting Research Analyst, Automotive Domain, Fact.MR.
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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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.
Plastics Foreseen to Maintain a Larger Share in Automotive Tail Light Market, over Metals
Research points at the fact that road traffic contribute for approximately one-fifth of the global CO? emissions. While the figure is consistently on the rise, adoption of lightweight vehicle technology can potentially help reduce it, according to industry experts. A vehicle just-10% lighter in weight tends to consume almost 5% less fuel compared to conventional vehicles, thereby contributing to reduction of CO? emissions.
Additional Questions Answered by Global Automotive Tail Light Market Report
What potential opportunities are likely to emerge in 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 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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