Laser Headlight Market Analysis
The global laser headlight market
will grow at a 30.5% CAGR during the forecast period, states the latest Market
Research Future (MRFR) analysis. Laser headlights, put simply, are automotive
components that are used to light the road surface for better safety and also
avoid the risk of accidents.
Various factors are
fuelling the global laser headlight market growth. As per the recent MRFR
market estimates, such factors include the growing adoption of innovative
safety features in passenger cars that is increasing the need for automotive
laser headlights, increasing number of incidents across the globe, increasing
sales of luxury cars which are built with advanced lighting systems, increasing
awareness about energy-efficient lighting systems, the inclination for comfort
and safety features, rise in the sale and production of cars worldwide,
favorable government initiatives to improve safety attributes, fuel efficiency
of cars that prompt manufacturers to integrate such systems that will ensure
safety and comply with the regulations, rise in accidents especially at night,
increasing usage of sensors due to technological advancements, and demand for safer
and compact vehicles.
On the flip side, high
price, less accessibility, impact of the COVID-19 pandemic, and less awareness
regarding technology may limit the global laser headlight market growth in the
forecast period.
Key Players
Eminent players profiled in the global laser
headlight market report include Koninklijke Philips N.V. (Netherlands), Palomar
Technologies (US), KOITO MANUFACTURING CO., LTD (Japan), ZKW Group (Germany),
Robert Bosch (Germany), Hella KGaA Hueck & Co (Germany), SLD Laser
(Germany), Marelli Holdings Co, Ltd, (Italy),and Valeo (US), among
others.
Market Segmentation
The MRFR report throws
light on an inclusive segmental analysis of the global laser headlight market
based on sales channel, power type, technology type, and vehicle type.
·
By vehicle type, this market has
been bifurcated into commercial and passenger vehicles. Among these, the
commercial vehicle segment will lead the market over the forecast period at a
high CAGR.
·
By power type, the market is
bifurcated into 60W, 40W, as well as 35W. Among these, the 35W power type
segment will dominate the market over the forecast period at a significant
CAGR.
·
By technology, the market is
bifurcated into conventional & intelligent. Among these, intelligent technology
segment will spearhead the market over the forecast period.
·
By sales channel type, the market
is bifurcated into aftermarket & OEM. Among these, the OEM sales channel
type will have the lions share in the market over the forecast period.
Regional Analysis
By region, the global
laser headlight market covers the recent trends and growth opportunity across
Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW).
Among these, Europe will reign the market over the forecast period. The region
being the leader in automotive technologies, rising technological developments,
adoption of laser headlights, continuous rise in production of cars, the
presence of many industry players, many existing players having a good market
share, strong customer base especially for luxury cars, increasing investments
by key players, the presence of emerging economies worldwide, the presence of
well-established automobile manufacturers in the developed parts of the
country, and increasing technological developments are adding to the growth of
the market in the region.
In the Asia Pacific
region, the global laser headlight
market will have admirable growth over the forecast period. Consistent increase
in the production of cars, the presence of several leading automotive
industries in Japan, India, and China, the presence of emerging economies which
offer lucrative opportunities to the auto sector, huge base of younger
population having high purchasing power especially in Japan, China, and India
are fuelling market growth in the region.
In North America, the
market will have favorable growth over the forecast period for the region being
a pioneer especially of automotive technologies, increasing technological
advances, as well as major acceptance from end customers are fueling market
growth in the region.
In Rest of the World, the
market will have stable growth in the forecast period.
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