Automotive lighting is gaining significant traction among manufacturers in terms of design modifications. This is further supported by government regulations related to lighting in a vehicle and due importance to vehicle safety. Increasing production of automotive coupled with increasing consumer expenditure on vehicle in terms of looks is contributing significantly towards growth of the automotive lighting market across the globe. Automotive lighting components include interior light, headlights, sidelights, off road lights, taillights and compact lights among others. Tail lights hold a significant market share in the overall automotive lighting market, which is anticipated to increase in the near future. Demand for advanced tail lights including indicator lamps ensuring clear covering is anticipated to increase, which is expected to fuel the demand for such tail light holders in order to meet the vehicle manufacturer’s specifications.
Styling is a concern area among consumers, which is leading towards new product development by vehicle manufacturers to suit the varied need of consumers. Technological advancements such as intelligent lights, blind spot detection and brake assist system among others are leading towards demand for improved tail light holders to support the newly designed products. Furthermore, vehicle manufacturers are developing as eye-catching appearance tail lights, which is supported by development of tail light holders that offer proper synchronisation between front and rear lights. Thus, resulting in improved road safety and driver comfort. Also, introduction of organic LEDs (OLED’s) is latest technology driving the demand for advanced tail light holders catering to the demand for advanced products among consumers.
Tail Light Holder Market Segmentation:
Tail light holder market is segmented on the basis of holder application, terminal gender, terminal design, terminal material, vehicle type and holder type. On the basis of holder application, the tail holder market is segmented into application of tail light for combination lamp and three sockets w/wiring. Based on the terminal gender, the tail light holder market is segmented into male and female. Similarly, on the basis of terminal design, the segmentation includes socket and pressure contact. Terminal material is of different types namely brass, plastic and tin. Different vehicles for which tail lights holders are used include commercial vehicle and motorcycle. Tail light holders are of two types vehicle specific and not vehicle specific. Geographically, tail light holder market is segmented into seven regions namely North America, Western Europe, Japan, Asia Pacific Excluding Japan, Middle East and Africa and Latin America. Among all the aforementioned regions, Asia Pacific excluding Japan is anticipated to witness demand for tail light holders, which is primarily attributed to growing number of vehicle sales in countries such as China and India. In addition, low labour cost and manufacturing cost is anticipated to contribute towards increased production of products such as tail light holder in these countries.
Tail Light Holder Market Dynamics:
Globally, increasing concerns regarding vehicle quality is leading towards consumer inclination for vehicles with long life span and efficient vehicle products along with accessories. This is anticipated to drive the demand for products such as tail light holder and other lighting components. Growing vehicle demand is one of the key factors fuelling the demand for automotive lighting. This is further leading towards demand for tail light and thus, tail light holder. In addition, technological advancements to ensure compliance with technology and material used to make holder have led towards development of advanced tail light holder in recent years. Furthermore, introduction of OLED lighting, bend lighting with LED technology and laser light technology is anticipated to revelotionise the tail light holder market dynamics. This is attributed to demand for efficient holder to be compatible with such lights. Thus, fuelling the tail light holder market growth. Large number of tail light holder manufacturers at regional level has resulted in high bargaining power of component suppliers to the automotive manufacturers, which might lead to quality compromise. Thus, hampering the growth of tail light holder market to a certain extent.
Tail Light Holder Market Key players:
Some of the players in the automotive lighting market include Stanley Electric Co., Ltd., Osram GmbH, General Electric (GE), Koito Manufacturing Co. Ltd, Magneti Marelli S.P.A, Hueck & Co., Ichikoh Industries Ltd., Valeo, Zizala Lichtsysteme GmbH, Koninklijke Philips N V. and Hella KGaA. The tail light holder market is fragmented with large number of players at regional level, however top or tier 1 vehicle manufacturers are engaged in long term agreements with their tail holder suppliers.
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Regional analysis for Tail Light Holder Market includes
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.