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Automotive LED tail light market briefing and estimation

market growth estimation of automotive led taillights
The global automotive LED tail light market is expected to grow at a CAGR of 6%, reaching a total market size of US$ 22 billion by the end of 2032 from US$ 12.2 billion in 2022. This growth arises from improving automotive taillight technologies and the change of preference over car LED lights that are brighter, more efficient, and also last longer.

Based on vehicle type, the global auto led taillight market is classified into passenger vehicles, light commerical vehicles,heavy commercial vehicles.LED tailights for passenger vehicles occupies very great part of marketshare because of increasing market demand for better lighting system technologies for better driving safety.

As per sales channel, global auto LED taillights market is categorized into OEMs and aftermarket.OMEs has the biggest market share because most of the vehicles come with some type of LED taillight at the rear of the car.

By geography, global auto LED taillights market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. 

North America will be a lucrative region and is expected to remain dominant. This is because of large base of OEMs in the region. Also,people there has greater preference on technological developments.

Western and Eastern Europe will also hold significant market share as major market. Asia Pacific is expected to grow fast at a significant CAGR of 6% because of large auto production base and increasing requirements for car parts. Middle east,Africa and South America are expected to show a sluggish growth.

The LED tail lights for passenger cars account fro 4/5th market share in 2022.The LED taillights for commercial vehicle is also expected to achieve lucrative market growth owning to higher requirments by governments for improving saftey standards of commercial vehicle.Several auto makers are also providing LED tailgate light bars for additional safety and functionality element in heavy duty transport and commerial vehicles.

World-famous auto tail light suppliers are adopting strategies of partnerships,collaboratons,acquisitions as well as new software launch to stand strongly in the world market. Prominent market players are focusing more and more on production innovations to make sure of seamless supplier-customer relationship.

Some of the companies that are famous on global market are:

2)Infineon Technologies
3)The Morey Corporation
4)Lambert Enterprises
5)Koninklijke Philips
7)Hilux Autoelectric
10)Peterson Manufacturing
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