Market Overview:
The global third brake light market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for safety features in vehicles, rising awareness about road safety, and growing demand for LED brake lights. The global third brake light market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into gas brake lights and LED brake lights. The gas brake light segment is expected to account for a larger share of the global third brake light market than LED brake lights during the forecast period owing to their low cost and easy installation. However, LED brakes are gaining popularity due to their superior performance as compared with gas brakes. On the basis of application,the market is divided into OEMs and aftermarket segments.
Product Definition:
The third brake light is a safety feature on a car that is usually located in the back window. It is used as an additional warning signal to drivers behind the vehicle.
Gas Brake Light:
The gas brake light is a device that emits an orange or red flame when the brakes are applied. It is usually located on the rear of the vehicle, but can be found on some models positioned in front of the rear wheel as well. The primary function of this device is to alert other road users that you are approaching and also avoid accidents by providing an additional visual signal to take action.
LED Brake Light:
The LED brake light is a type of lighting device used to indicate the position of the vehicle's brake pads during night time. It is an innovative and effective solution that helps in avoiding accidents caused by failure of conventional lights. The modern vehicles are equipped with numerous sensors, which help in providing adequate warning to the driver when applied brakes are not enough to stop the vehicle, or if any other obstacle is detected from behind.
Application Insights:
OEMs held the largest market share of over 70% in 2017. OEMs use these products to meet the safety and performance requirements of vehicles, which are manufactured under a set of specifications laid down by a vehicle¢â‚¬â„¢s manufacturer. These lights are designed and approved by the original equipment manufacturers (OEMs) to be used on their respective vehicles. The aftermarket segment is expected to expand at a CAGR of XX% from 2018 to 2030 owing uponbrake light failure in various types within vehicles that occur due to accidents or other incidents, there is an increased demand for replacement parts that can help repair or restore normal functioning of brake lights on cars and trucks.
The application segments analyzed in this study include passenger cars, light commercial Vehicles (LCVs), heavy commercial Vehicles (HCVs), buses & coaches, emergency service vehicles including police patrol cars.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% in 2017 owing to high demand from countries such as China, India, Japan, and South Korea. Increasing automobile production coupled with stringent government regulations regarding vehicle safety is anticipated to drive regional growth over the forecast period.
The Asia Pacific was followed by Europe which accounted for a share of more than 20% in 2017 owing to growing automotive industry across European countries including Germany, France, Italy and Spain among others.
Growth Factors:
- Increasing demand for safety and security features in vehicles
- Stringent government regulations for vehicle safety
- Growing awareness about the benefits of third brake lights among consumers
- Technological advancements in third brake light products
- Rising demand from emerging markets
Scope Of The Report
Report Attributes
Report Details
Report Title
Third Brake Lights Market Research Report
By Type
Gas Brake Light, LED Brake Light
By Application
OEMs, Aftermarket
By Companies
Dorman, Anzo, Koito, Magneti Marelli, Valeo, Hella, Stanley Electric, Ichikoh, ZKW Group, SL Corporation, Varroc, TYC, DEPO, Xingyu, Hyundai IHL
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Third Brake Lights Market Report Segments:
The global Third Brake Lights market is segmented on the basis of:
Types
Gas Brake Light, LED Brake Light
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
OEMs, Aftermarket
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Dorman
- Anzo
- Koito
- Magneti Marelli
- Valeo
- Hella
- Stanley Electric
- Ichikoh
- ZKW Group
- SL Corporation
- Varroc
- TYC
- DEPO
- Xingyu
- Hyundai IHL
Highlights of The Third Brake Lights Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Gas Brake Light
- LED Brake Light
- By Application:
- OEMs
- Aftermarket
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Third Brake Lights Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Third brake lights are a warning light on the rear of a vehicle that indicates to other drivers that the vehicle has stopped.
Some of the major players in the third brake lights market are Dorman, Anzo, Koito, Magneti Marelli, Valeo, Hella, Stanley Electric, Ichikoh, ZKW Group, SL Corporation, Varroc, TYC, DEPO, Xingyu, Hyundai IHL.
The third brake lights market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Third Brake Lights Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Third Brake Lights Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Third Brake Lights Market - Supply Chain
4.5. Global Third Brake Lights Market Forecast
4.5.1. Third Brake Lights Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Third Brake Lights Market Size (000 Units) and Y-o-Y Growth
4.5.3. Third Brake Lights Market Absolute $ Opportunity
5. Global Third Brake Lights Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Third Brake Lights Market Size and Volume Forecast by Type
5.3.1. Gas Brake Light
5.3.2. LED Brake Light
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Third Brake Lights Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Third Brake Lights Market Size and Volume Forecast by Application
6.3.1. OEMs
6.3.2. Aftermarket
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Third Brake Lights Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Third Brake Lights Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Third Brake Lights Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Third Brake Lights Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Third Brake Lights Demand Share Forecast, 2019-2026
9. North America Third Brake Lights Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Third Brake Lights Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Third Brake Lights Market Size and Volume Forecast by Application
9.4.1. OEMs
9.4.2. Aftermarket
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Third Brake Lights Market Size and Volume Forecast by Type
9.7.1. Gas Brake Light
9.7.2. LED Brake Light
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Third Brake Lights Demand Share Forecast, 2019-2026
10. Latin America Third Brake Lights Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Third Brake Lights Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Third Brake Lights Market Size and Volume Forecast by Application
10.4.1. OEMs
10.4.2. Aftermarket
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Third Brake Lights Market Size and Volume Forecast by Type
10.7.1. Gas Brake Light
10.7.2. LED Brake Light
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Third Brake Lights Demand Share Forecast, 2019-2026
11. Europe Third Brake Lights Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Third Brake Lights Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Third Brake Lights Market Size and Volume Forecast by Application
11.4.1. OEMs
11.4.2. Aftermarket
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Third Brake Lights Market Size and Volume Forecast by Type
11.7.1. Gas Brake Light
11.7.2. LED Brake Light
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Third Brake Lights Demand Share, 2019-2026
12. Asia Pacific Third Brake Lights Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Third Brake Lights Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Third Brake Lights Market Size and Volume Forecast by Application
12.4.1. OEMs
12.4.2. Aftermarket
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Third Brake Lights Market Size and Volume Forecast by Type
12.7.1. Gas Brake Light
12.7.2. LED Brake Light
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Third Brake Lights Demand Share, 2019-2026
13. Middle East & Africa Third Brake Lights Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Third Brake Lights Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Third Brake Lights Market Size and Volume Forecast by Application
13.4.1. OEMs
13.4.2. Aftermarket
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Third Brake Lights Market Size and Volume Forecast by Type
13.7.1. Gas Brake Light
13.7.2. LED Brake Light
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Third Brake Lights Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Third Brake Lights Market: Market Share Analysis
14.2. Third Brake Lights Distributors and Customers
14.3. Third Brake Lights Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Dorman
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Anzo
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Koito
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Magneti Marelli
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Valeo
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Hella
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Stanley Electric
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Ichikoh
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. ZKW Group
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. SL Corporation
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Varroc
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. TYC
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. DEPO
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Xingyu
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Hyundai IHL
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
