Global Automotive High-Mount Stop Lamp Market 2017-2021

Overview of the global automotive high-mount stop lamp market

Research analysis on the global automotive high-mount stop lamp (HMSL) market identifies that the HMSL as a mandatory safety equipment will be one of the major factors that will have a positive impact on the growth of the market. HMSL is a safety device that provides a warning to the driver with the lesser view of the vehicle's right and left stop lamps that is blocked by another vehicle. In addition, these HMSL devices offers stop signal in the case of stop light malfunctioning. Rise in road safety concerns across the world have resulted in various developed economies like the US, New Zealand, and Australia making it mandatory to install HMSL in both passenger cars (PCs) and commercial vehicles (CVs). Also, the increase in disposable income and lower fuel prices in developing economies have increased the sales of automobiles giving rise to automotive manufactures to raise the increase the need for safety features of the automobile. This will help to drive the demand for HMSL during the forecast period. Technavio’s market research analysts predict that this market will post a revenue of more than USD 2.8 billion by 2021.

The rising utilization of OLED in the rear lights is one of the key trends that will gain traction in the automotive HMSL market. OLEDs can produce light in a thin layer that provides new opportunities for better designs from the automotive manufacturers. Also, OLEDs are a flat light source that does not cast any shadow and needs no reflectors, light guides, or similar optics. Due to the extremely lightweight and very flat characteristics of OLEDs, it is largely flexible which can be shaped and mounted on flexible carriers. These advantages will drive the adoption of OLEDs in the high-mount stop lamps in the automotive industry.

Competitive landscape and key vendors  

The automotive HMSL market consists of limited number of large players along with regional, local players operating in this market. However, as global players are expanding their presence, regional vendors are finding it hard to compete with them based on better technology, quality, price, product features, and design. The competitive environment in this market is likely to increase with the rise in demand for PCs and LCVs.

The leading vendors in the market are –

• HELLA
• KOITO MANUFACTURING
• Magneti Marelli
• OSRAM

The other prominent vendors in the market are Stanley Electric, Brown & Watson International, Dialight, and Truck-Lite.

Segmentation by application and analysis of the automotive HMSL market

• Passenger cars
• Light commercial vehicles

During 2016, the passenger cars segment accounted for the major shares of the market. Factors such as the growing demand for passenger cars in the developing economies, such as China, India, Japan, and South Korea and increased initiatives to raise the safety measures during a commute will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the automotive HMSL market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the automotive HMSL market throughout the forecast period. The increasing demand for PCs and LCVs in the developing economies, such as China and India and the rise of rear-collision accidents every year will drive the market growth in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive high-mount stop lamp market?
• What are the key market trends impacting the growth of the global automotive high-mount stop lamp market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive high-mount stop lamp market?
• What are the market opportunities and threats faced by the vendors in the global automotive high-mount stop lamp market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global automotive high-mount stop lamp market?

Technavio also offers customization on reports based on specific client requirement.