Press release
Tail Light Holder Market to be at Forefront by 2026
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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 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.
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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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