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 assemblies in order to support the newly designed products. Proper maintenance of parts and accessories is gaining significant traction among consumers. This is majorly attributed to growing concerns for safety, which has an indirect impact on the tail light assembly design. Thus, tail light assembly manufacturers are focused on developing innovative and efficient tail light assemblies catering to the need of customers in compliance with safety standards. Proper designing of tail light assemblies is essential as tail lights installed on the assembly guide the person about turn, brake and slow or stop motion of the vehicle. Indication of proper light is essential as it would help in avoiding accidents and allow driver of the trailing vehicle to make necessary changes in driving. Also, development of LED illuminated tail lamps is another key focus area among tail light assembly manufacturers. Demand for flexibility, energy efficiency, less package space and weight, enhanced light output has led tail light manufacturers to develop such products, which is anticipated to further drive the demand for tail light assemblies that are compatible with such products.
Tail Light Assemblies Market Segmentation:
Tail light assemblies market is segmented on the basis of tail light assembly parts, tail light assembly price, tail light assembly location, tail light assembly material, tail light assembly design, tail light assembly light, tail light assembly fit, tail light quantity sold, tail light assembly light source and vehicle body type. On the basis of tail assembly parts the market is segmented into tail light, tail light cover, tail light lens, tail light guard, tail light trim, tail light circuit, tail light panel and others. On the basis of tail light assembly price, the market is segmented into less than US$ 50, between US$ 50 and US$ 100, between US$ 100 and US$ 250, between US$ 250 and US$ 500, between US$ 500 and US$ 1000 and above US$ 1000.
On the basis of tail light assembly location, the market is segmented into passenger side, driver side, driver and passenger side and others. Based on the type of tail light assembly material, the market is segmented into plastic, stainless steel, steel, aluminum, plastic lens, metal and others. Tail light assembly design segmentation includes slotted, cutouts, black-outs, solid and others. Tail light assembly type id of different types namely brake light, parking light, side marker and others. Tail light assembly market is segmented on the basis of product fit, which includes universal and direct fit. On the basis of quantity sold, the market is segmented into individual, set of 2, set of 4 and set of 6. Based on the type of light source, the market is segmented into halogen, LED, incandescent and halogen/LED. Based on the vehicle body type, the market is segmented into sedan, crew cab pickup and hatchback.
Geographically, tail light assemblies 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 assemblies, which is primarily attributed to growing number of vehicle sales in countries such as China and India.
Tail Light Assemblies Market Dynamics:
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 tail light assemblies have led towards development of efficient tail light assemblies in recent years. Since, tail light is one of key essentials in a vehicle, continuous research and development along with new product development by players operating in the market is expected to fuel the tail light assemblies market growth in the near future. In countries such as China and India, premium priced product owe a small share as compared to mass products available in the market. This might lead towards adoption of low price products among the vehicle manufacturers. Thus, restricting the market growth of technically advanced products, which are of high price.
Tail Light Assemblies Market Key players:
Some of the players that manufacturer tail light products include Dorman Products, Inc., TYC Brother Industrial Co., Ltd, Stanley Electric Co., Ltd., Osram GmbH, General Electric (GE), Koito Manufacturing Co. Ltd, Magneti Marelli S.P.A, Hueck & Co., Ichikoh Industries Ltd. and Hella KGaA.
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Regional analysis for Tail Light Assemblies 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.