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 is 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 nighttime 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 the Sales Channel, the 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 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.
|Market size value in 2018||US$182.918 million|
|Market size value in 2024||US$512.168 million|
|Growth Rate||CAGR of 18.72% from 2018 to 2024|
|Forecast Unit (Value)||USD Million|
|Segments covered||Vehicle Type, Sales Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Koninklijke Philips N.V., OSRAM GmbH, Peterson Manufacturing Company, Lambert Enterprises LLC, ORACLE LIGHTING|
|Customization scope||Free report customization with purchase|
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
Frequently Asked Questions (FAQs)
Q1. What will be the automotive LED taillight market size by 2024?
A1. The global automotive LED taillight market is expected to reach a market size of US$512.168 million in 2024.
Q2. How is the global disinfectants market segmented?
A2. The automotive LED taillight market has been segmented by vehicle type, sales channel, and geography.
Q3. What are the growth prospects for the automotive LED taillight market?
A3. The global automotive LED taillight market is expected to grow at a CAGR of 18.72% during the forecast period.
Q4. What is the size of the global automotive LED taillight market?
A4. Automotive LED Taillight market was valued at US$182.918 million in 2018.
Q5. Which region holds the largest market share in the automotive LED taillight market?
A5. Asia-Pacific holds a significant amount of share in the market owing to the fact that the demand and production of vehicles are more in this region.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Automotive LED Taillight Market Analysis, by Vehicle Type
5.2. Passenger Vehicle
5.3. Light Commercial Vehicle
5.4. Heavy Commercial Vehicle
6. Global Automotive LED Taillight Market Analysis, by Sales Channel
7. Global Automotive LED Taillight Market Analysis, by Geography
7.2. North America
7.3. South America
7.4.3. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Koninklijke Philips N.V.
9.2. OSRAM GmbH
9.3. Peterson Manufacturing Company
9.4. Lambert Enterprises LLC
9.5. ORACLE LIGHTING
*list is not exhaustive
Koninklijke Philips N.V.
Peterson Manufacturing Company
Lambert Enterprises LLC
*list is not exhaustive
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.