The centre high mount stop lamps market is expected to record a CAGR of 4.5% during the forecast period 2022-2032, up from US$ 3.25 Billion in the year 2022 to reach a valuation of US$ 5.27 Billion by 2032.
| Report Attributes | Details |
| Center High Mount Stop Lamps Market CAGR | 4.5% |
| Center High Mount Stop Lamps Market Value (2022) | US$ 3.25 Billion |
| Center High Mount Stop Lamps Market Value (2032) | US$ 5.27 Billion |
The centre high mount stop lamps market is anticipated to show promising growth prospects in the forecasted period.
Strict government regulations and standards pertaining to safety on the road are projected to fillip the sales of centre high mounted stop lamps over the coming span of years. Furthermore, the growing automotive vehicle fleet is anticipated to accelerate the installation of Centre High Mounted Stop Lamps in the coming years.
Centre High Mount Stop Lamps makers are offering the product in various shapes and sizes to cater to each customer's demand and make a strong customer base. Furthermore, numerous models on the global market are rolled out by manufacturers with extra features like chrome finishes, cargo lights, or platinum smoked lenses. These additional features also work as catalysts in the global centre high mount stop lamp over the stipulated time period.
Counterfeit products and lacking the installation process for CHMSL are some of the headwinds in the global Centre High Mount Stop Lamps market.
Various lighting manufacturers are using heavy-duty housings made of durable plastics or chrome to make sure that these lights will be able to work efficiently in harsh conditions or in poor weather. Further, LED type High Mount Stop Lights are a bubbling uptrend in the global market because these lights have many benefits such as being small, using less energy, requiring less maintenance, and being brighter than their counterparts.
The Asia Pacific region holds a disproportionate share of the Centre High Mount Stop Lamps segment market, thanks to its large on-road fleet of vehicles. China and India, and other developing countries are expected to be lucrative markets due to the increasing installation of centre high-mounted stop lamps as a result of standardized government lighting.
Traditionally, North America has had a strong command since the product's inception, where regional the government already imposed stringent regulations on the installation of Centre High Mount Stop Lamps. Although the regional aftermarket segment also holds a considerable share, most people prefer to use continuously old vehicles compared to new vehicles.
Europe is the hub for automotive. Therefore, Europe will have a high weight on the Centre High Mount Stop Lamps market in the future. The Middle East & Africa is projected to grow with a sluggish growth rate compared to other region owing to less production of vehicles; although SUV has plenty of share in the region, thus the region is expected to foresee a high installation of high demand for Centre High Mount Stop Lamps for SUV over the stipulated time period.
CHMSL was enshrined in FMVSS 108 that was released in 1983, and it was also noted that vehicle manufacturers must adhere to the regulations.
As a result, a study by the National Highway Traffic Safety Administration (NHTSA) found that 67% of all rear-end accidents are caused by dim backlights. Accordingly, OEMs installing high-mounted stop lamps on their vehicles are expected to generate profitable growth opportunities over the next few decades. Due to this, the Cadillac ATS and CTS have high-mount stop lamps with spoilers installed in the centre, which increases their aerodynamic performance.
Examples of some of the market participants in the global centre high mount stop lamps market identified across the value chain include Hella KGaA Hueck & Co., Grote Industries, Inc., North American Lighting, Inc., OSRAM GmbH, Magneti Marelli S.p.A., Altair Engineering, Inc., Crown Automotive Sales Co. Inc., Excellence Optoelectronics Inc., ICHIKOH INDUSTRIES, LTD., FLEX-N-GATE CORPORATION.
| Report Attribute | Details |
| Growth rate | CAGR of 4.5% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 – 2020 |
| Forecast period | 2022 – 2032 |
| Quantitative units | Revenue in US$ million/billion and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments covered | Vehicle type, Installation type, Sales Channel, & Region |
| Regional scope | North America (U.S., Canada); Latin America (Mexico, Brazil); Europe (Germany, Italy, France, U.K, Spain, Russia); East Asia (China, Japan, South Korea); South Asia (India, ASEAN); Oceania (Australia, New Zealand); Middle East and Africa (GCC Countries, South Africa, Northern Africa) |
| Country scope | U.S., Canada, Mexico, Brazil, Germany, Italy, France, U.K, Spain, Russia, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC Countries, South Africa, Northern Africa |
| Key companies profiled | Hella KGaA Hueck & Co., Grote Industries, Inc., North American Lighting, Inc., OSRAM GmbH, Magneti Marelli S.p.A., Altair Engineering, Inc., Crown Automotive Sales Co. Inc., Excellence Optoelectronics Inc., ICHIKOH INDUSTRIES, LTD., FLEX-N-GATE CORPORATION |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
By vehicle type:
By Installation type:
By Sales Channel:
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The centre high mount stop lamps market is expected to record a CAGR of 4.5% during the forecast period 2022-2032, up from US$ 3.25 Billion in the year 2022 to reach a valuation of US$ 5.27 Billion by 2032.
Key players holding substantial market share include Hella KGaA Hueck & Co., Grote Industries, Inc., North American Lighting, Inc., OSRAM GmbH, Magneti Marelli S.p.A., Altair Engineering, Inc., Crown Automotive Sales Co. Inc., Excellence Optoelectronics Inc., ICHIKOH INDUSTRIES, LTD., and FLEX-N-GATE CORPORATION.
As per the analysis, the centre high mount stop lamps market share is likely to be US$ 5.27 Billion by 2032.
Over the course of the next few years, government regulations and standards pertaining to safety on the road are expected to propel sales of centre high mounted stop lamps market.
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Centre High Mount Stop Lamps Market
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