Global Automotive Tail Light Market Worth to reach US$ 22

United States, Rockville, MD, June 17, 2022 (GLOBE NEWSWIRE) — As per a recent report published by Fact.MR, the global automotive tail light market is poised to grow at a CAGR of 6% from 2022 to 2032. The market is expected to close at a valuation of US$ 22 Billion. With rising 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 taillight manufacturers in the upcoming few years.

From 2015 to 2021, the market for automotive tail light grew at a CAGR of 4% closing at a value of US$ 11.5 Billion. As of 2022, the industry is likely to reach US$ 12.2 Billion. Prospects heightened after the growing consumer demand for sleek, lightweight, and functional vehicles; thereby fuelling innovations in each structural and functional vehicular component. Augmenting applications in plug-in hybrid (PHEV) and electric vehicles (EV). Automotive Tail Light-based batteries prevent loss of charge and ensure that PHEVs and EVs run for longer distances.

For more insights into the Market, Get A Sample of this Report!
https://www.factmr.com/connectus/sample?flag=S&rep_id=3

Besides the critical need for excellent performance and uncompromised safety, the manufacturers of automotive taillights have been recently making efforts to meet the drastically ascending demand for lightweight vehicles for greater fuel efficiency. FMR’s study on the global automotive tail light market expects this as a long-term enduring trend, which will strongly trigger the consolidation of manufacturing processes and componentry.

Key Takeaways from the Market Study 

  • Global automotive tail light market to nearly double from 2022-2032 
  • LED automotive tail lights to be a top-selling category, capturing more than 50% market and flourishing at a 6% CAGR until 2032 
  • By vehicle type, automotive tail light for the automotive industry to expand at a CAGR of 5.5% 
  • North America to emerge as the fastest-growing Automotive Tail Light market, documenting a 6.6% CAGR 
  • APEJ to be the most opportunistic market, expected to be valued at US$ 6.5 Billion in 2032 

For Comprehensive Insights Ask An Analyst Here

https://www.factmr.com/connectus/sample?flag=AE&rep_id=3

Competitive Landscape 
The global market for Automotive Tail Light is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out, specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage up-gradation and product differentiation to gain an edge over other competitors in the market. 

  • In August 2021, the lighting and electronics specialist HELLA and French automotive supplier Faurecia today signed an agreement on the combination of the two companies. As part of the transaction, Faurecia will acquire the 60 percent stake held by HELLA pool shareholders. In addition, Faurecia has announced a voluntary public tender offer to acquire the remaining HELLA shares at an offer price of € 60 per share
  • In April 2022, Bosch is further ramping up its play in the automated vehicle market with the acquisition of automated driving start-up Five. While the financial details of the deal remain undisclosed, the acquisition will enable Bosch to further its development of self-driving cars and will see the respective software engineering teams merge. Five will form part of Bosch’s cross-domain computing solutions division.

More Valuable Insights 
Fact.MR, in its new offering, presents an unbiased analysis of the global Automotive Tail Light market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-to 2032. 

The study reveals essential insights based on source (halogen and LED), vehicle type (passenger cars, two-wheelers, LCV and HCV), material type (plastic and metal) and sales channel (aftermarket and OEM) across six major regions (North America, Latin America, Europe, APEJ, Japan and Middle East & Africa).

Get Customization on this Report for Specific Research Solutions

https://www.factmr.com/connectus/sample?flag=RC&rep_id=3
Fact.MR’s Domain Knowledge in Automotive 
Our automotive consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the Automotive sector. Our expertise in recognizing the challenges and trends impacting the global Automotive industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions. 

Explore More Automotive Research Reports:

Boat Lights Market Outlook (2022-2032) – The global boat lights market is anticipated to reach a valuation of US$ 548.5 million in 2022 and is further forecast to surpass US$ 1.07 billion by the end of 2032, expanding at a high CAGR of 6.9% from 2022 to 2032.

U.S. Electric Vehicle Battery Market Outlook (2022-2032) – The United States electric vehicle battery market is forecasted to exceed a valuation of US$ 9.2 billion by 2032-end, up from US$ 5.4 billion in 2022, expanding at 5.4% CAGR during the assessment years (2022-2032).

Europe Electric Vehicle Battery Market Outlook (2022-2032) – Sales of electric vehicle batteries in Europe are valued at US$ 5.8 billion in 2022. The Europe electric vehicle battery market is predicted to rise at 5.9% CAGR to exceed a valuation of US$ 10.3 billion by end of 2032.

U.S. Hybrid Electric Vehicles Market Outlook (2022-2032) – Sales of hybrid electric vehicles in the U.S. reached a market valuation of US$ 15.2 billion in 2021. Projections are that the U.S. hybrid electric vehicles market will expand rapidly at 13.8% CAGR to top US$ 55.5 billion by the end of 2032.
Europe Hybrid Electric Vehicles Market Outlook (2022-2032) – Sales of hybrid electric vehicles in Europe are projected to increase at an impressive CAGR of 14.2% to reach a market valuation of US$ 15.7 billion by the end of 2032.

U.S. Drone Market Outlook (2022-2032) – The U.S. drone market is projected to expand rapidly at 22.2% CAGR to reach a market valuation of US$ 82.9 billion by 2032, up from US$ 11.1 billion in 2022.

Europe Drone Market Outlook (2022-2032) – The European drones market is projected to balloon at 21.9% CAGR and reach a market valuation of US$ 55.2 billion by 2032, thereby creating an absolute dollar opportunity worth US$ 47.6 billion during the forecast years of 2022-2032.

Automotive Tail Light Industry Outlook (2022-2032) – The global Automotive Tail Light market is likely to be valued at US$ 12.2 Billion in FY 2022, up from US$ 11.5 Billion in 2021.

Motorcycle Accessories Industry Outlook (2022-2032)- The global Motorcycle Accessories market is likely to be valued at US$ 8.84 Billion in FY 2022, up from US$ 8.39 Billion in 2021.

Automotive Coatings Market Outlook (2022-2032)- Sales of automotive coatings amounted to US$ 16.3 Billion in FY 2021, and is forecast to experience a year-over-year expansion rate of 4.3% in 2022, reaching US$ 17 Billion.

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

Mahendra Singh

US Sales Office:

11140 Rockville Pike

Suite 400

Rockville, MD 20852

Email: [email protected]

Tel: +1 (628) 251-1583