February 27, 2020
Automotive Rear Light

Automotive Rear Lights Market | OEM Channel Expected to Register Strong Growth during the Forecast Period

The global automotive rear lights market is expected to reach US$ 7.79 Bn by 2027, expanding at a CAGR of 4.7 % during the forecast from 2019 to 2027.

Market Insights

Automotive rear lights are the rear-facing lights that are mainly installed for safety purposes. With the increased speed and performance of the vehicle, visibility is crucial to maintaining safety on the road. Over the last few years, the solutions for automotive lighting have evolved considerably. Changing consumer preferences and the demand for flexible designs have shifted the trend in automotive lights from halogen to Light Emitting Diode (LED) and organic LED (OLED) technologies. Higher advantages offered in terms of durability, efficiency and design flexibility are some of the key factors driving the use of LED and OLED technology for rear lights in the automotive sector. In addition, the rear LED lights are dimmed as per the surrounding weather conditions, which in turn help to save energy. However, the cyclical nature of the automotive industry may hinder the demand for backlights in the automotive sector over the forecast period.

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Segmentation
Product Type Segment (2017–2027; US$ Bn)
• Center High Mounted Stop Light (CHMSL)
• Brake Light
• Side-marker Light
• Tail Light
• License-plate Light
• Parking Light
• Turn Light
• Rear Fog Light

Vehicle Type Segment (2017–2027; US$ Bn)
• Passenger Cars
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)

Source Segment (2017–2027; US$ Bn)
• Halogen
• Xenon
• LED & OLED
• Others (Laser, etc)

Sales Channel Segment (2017–2027; US$ Bn)
• OEM
• Aftermarket

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The automotive rear light market is segmented on the basis of product type, vehicle type, source, sales channel, and geography. Passenger cars dominated the vehicle type segment in the year 2018 and anticipated to witness significant growth in the near future. The anticipated growth can be majorly attributed to the growing number of partnerships between passenger car manufacturers and lighting solution manufactures in a bid to develop smart lighting solutions. For instance, in July 2018, OSRAM and Continental AG joined their hands for developing intelligent lighting solutions for automotive.

Asia Pacific is currently the most attractive automotive rear light market. The region accounted formerly 40% of the overall market share in the year 2018. The growth in the region is mainly due to increasing production of passenger vehicles, growing GDP, improving purchasing power of the consumers, and ever-growing population. China, Japan, India and Taiwan are the major manufacturing hubs and automotive markets in Asia Pacific.

Some of the prominent players profiled in the global automotive rear lights market include OSRAM Automotive, Infineon Technologies, General Electric, Valeo SA., Koninklijke Philips N.V., Morey Corp., Phoenix Lamps Limited, Robert Bosch Limited, Sammoon Lighting & Electrical Co. Ltd., Stanley Electric, HELLA KGaA Hueck & Co., Lextar Electronics, Koito Manufacturing Co. Ltd., and J.W. Speaker among others.

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David Brown

David Brown

Experienced Market Research Analyst with a demonstrated history of working in the market research industry. Skilled in Secondary Market Research, Primary Market Research, Client Interfacing. - Identify, collect and organize data for use in research projects - Provide fundamental analysis for research projects - Review data to ensure its quality and integrity - Market estimates and forecast based on homegrown forecasting models - Identifying potential titles for syndicated research projects - Analyzing, estimating and forecasting various industry/market using various analysis tools and forecasting models - Conducting secondary research - Company profiling and analyzing competitive landscape - Report writing And Quality check

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