Plastics and LEDs Poised to Herald New Opportunities to Potentially Forestall Decline of Tail Light Market

Rockville, USA, 2019-Feb-14 — /EPR Network/ — Projected to expand at a sluggish CAGR of just-under 4% over 2017-2022, the global tail light market will possibly surpass the revenue of US$ 12 Bn by the end of 2022. According to a recent publication by Fact.MR, the global market for automotive tail light will continue to witness the miniscule rate of growth owing to limited scope of applicability of automotive tail light, which is expected to remain responsible for undermining the growth prospects of the global market for automotive tail light.

“Adoption of the latest lighting technologies by automotive industry leaders will possibly open multiple doors of growth opportunities for automotive tail light manufacturers, forestalling the visible decline of the global automotive tail light market over 2017-2022.” – Consulting Research Analyst, Automotive Domain, Fact.MR.

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Over the five-year assessment period, the global market for automotive tail light has been projected to follow a passive growth curve at a CAGR of 3.8%, reaching the value in excess of US$ 12 Bn by 2022 end.

As indicated by the global market intelligence on automotive tail light that has been recently published by Fact.MR, the global market for automotive tail light is among those auto components that is yet to discover its complete functional and aesthetic applicability beyond conventional functional utilities in the automotive space, which will continue to influence the performance of the global automotive tail light market throughout the forecast period. ith an estimated US$ 5 Bn revenue by the end of 2022, passenger cars are foreseen to remain the most attractive vehicle type for automotive tail light manufacturers.

Plastic tail lights will continue to reign supreme over their metallic counterparts, attributed to high endurance, lightweight nature, and translucency of the former.

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Automotive Tail Light: Market Definition

An automotive taillight is a rearward-facing red light mounted on the back of an automotive. Working in a relay with head lights, automotive tail lights serve a primary function of maintaining the safety aspect of vehicles. With escalating incorporation of advanced technologies in automobile components, automotive tail lights have been undergoing innovation over the past decade – creating a slew of potential growth opportunities for automotive tail light manufacturers in the upcoming few years.

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Plastics Foreseen to Maintain a Larger Share in Automotive Tail Light Market, over Metals

Research points at the fact that road traffic contribute for approximately one-fifth of the global CO? emissions. While the figure is consistently on the rise, adoption of lightweight vehicle technology can potentially help reduce it, according to industry experts. A vehicle just-10% lighter in weight tends to consume almost 5% less fuel compared to conventional vehicles, thereby contributing to reduction of CO? emissions.

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