The global automotive LED taillight market is expected to grow at a CAGR of 18.72% during the forecast period, reaching a total market size of US$512.168 million in 2024 from US$182.918 million in 2018. This growth is attributed to the improving automotive taillight technologies and shift of preference over to LED bulbs which are brighter and efficient and also last longer
Automotive LED taillights, which are also known as tail lamps, are a type of automotive lighting system that are positioned at the rear right and rear left of the vehicle. These lights help in indicating the driver’s actions to other vehicles as well as helping other vehicles see the vehicle in front of them, also they illuminate the nearby surroundings of the vehicle making the night time driving easier. They can also be referred to as safety components for the vehicle.
Taillights consist of various components such as the taillight bulb, the taillight lens, tail light guard, taillight wiring harness, taillight cover, taillight bezel, taillight panels, taillight rims, taillight circuit board, taillight connector plate, taillight bracket, and taillight housing. The key players are involved in introducing new taillight designs and products to improve the market condition. For example, J.W. Speaker Corporation is offering LED taillights with a SmartHeat feature that does not let the lenses fog out in cold weather and offer a clear view of the surroundings. Also, Audi has featured OLED taillights provided by the company Osram in its vehicle Audi TT RS. Also, the company has developed a new swarm light technology that is made up of using OLEDs which respond to the movement and direction of the car. Another company Volkswagen has introduced interactive LED taillight clusters that are a type of matrix taillights that can incorporate warnings in the taillights which make driving safer.
As the demand for better technologies in the lighting systems of vehicles is rising, there are better technologies being incorporated in cars to improve driving safety and driving experience so that people can enjoy a comfortable drive. These factors are driving the global automotive LED taillight market.
By Vehicle Type
On the basis of vehicle type, the global automotive LED taillight market is segmented as passenger vehicles, light commercial vehicles, heavy commercial vehicles. Passenger vehicles hold a significant amount of share in the market due to the increasing production and demand for passenger vehicles and more demand for better lighting system technologies to improve driving safety.
By Sales Channel
On the basis of Sales Channel, global automotive LED taillight market is segmented as OEMs and aftermarket. OEMs hold a notable amount of share in the market due to the fact that most of the vehicles produced come with some type of taillight fitted to make the driving safer and convenient.
By geography global automotive LED taillight market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. Asia-Pacific holds a significant amount of share in the market owing to the fact that the demand and production of vehicles is more in this region
The global automotive taillight market is competitive owing to the presence of well-diversified international, regional and local players. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.
The global automotive LED taillight market has been segmented by vehicle type, sales channel, and geography.
By Vehicle Type
Light Commercial Vehicle
Heavy Commercial Vehicle
By Sales Channel
Middle East and Africa
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