The global automotive laser headlight market size is expected to reach around 339.7 Bn by 2026 and growing at a CAGR of around 67.9% from forecast period 2019 to 2026.
Laser headlights are the automotive components used for lighting the road surface to increase safety, and also to avoid risk of accidents. Laser headlights are an innovative technology used in the automobiles, where laser beams not actually shot on the road instead lasers fires beams on the mirrors incorporated into the headlight system, and later the mirror focuses the beams into a yellow phosphorous filled lens which eventually emits high intensity white light. The laser headlight concept was initially used by BMW and Audi in the year 2014. The laser headlights were initially used only in premium cars in Europe only. BMW used laser headlights for its model i8 priced $136,000 which uses three blue laser diodes per headlight. In addition to this, Audi used a laser headlight concept in its model R8 LMX, 2014 prices $289,000 which incorporated four blue laser diodes for a single headlight, along with the combination of LEDs. The use of headlights in the above models had increased their prices to $8,000 to $12,000 for a single car. Furthermore, Audi A7 later started inculcating laser headlights from the year 2017. According to BMW estimates, laser lights have an illuminating power of 1000 times more than LED, which makes it a wow factor of bulb technologies present till date. Additionally, these use less energy to operate and are much smaller than the conventional lighting systems.
On the basis of vehicle, the global automobile laser headlights market was segmented into passenger vehicles and commercial vehicles. The passenger vehicle includes small cars, compact cars, mid-sized cars, luxury cars, SUVs, and crossovers. On the basis of the sales channel, the automotive laser headlight market was segmented into OEM and aftermarket.
On the flip side, the laser headlights are not efficient in the regions, which have adverse environmental conditions including continuous rainfall, fog, and snowfall. Additionally, the high cost associated with the laser headlights increases the price of the vehicle after is also an important factor anticipated to hamper the growth over the forecast period. Whereas, the technological advancements associated with the components used in the automotive sector are likely to create potential opportunities during the forecast period.
The global automotive laser headlight market is primarily gaining pace owing to the rising awareness about the efficient lighting systems. The increasing demand for luxury vehicles owing to the increasing disposable income in emerging economies is also favoring the market value. Additionally, the manufacturers of luxury vehicles are using advanced lighting systems, comfort, and safety features stimulating the market value. In addition to these, the laser headlights are also gaining positive growth due to a rapidly increasing number of accidents across the globe, which are pushing manufacturers to incorporate more efficient lighting systems in vehicles. The respective governments are also introducing stringent rules and regulations for enhancing road safety. Apart from these, the laser headlights offer high-intensity light which increases visibility range during driving in the dark is further supporting the growth.
The market research study on “Automotive Laser Headlight Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global automotive laser headlight market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global automotive laser headlight market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global automotive laser headlight market size of segment markets by product type, application, and geography along with the information on companies operating in the market. The automotive laser headlight market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
On the basis of region, Europe is leading the global automotive laser headlights market owing to the presence of major players such as OSRAM GmbH and Valeo S.A. In addition, the existing players of the region held the substantial share in the global market. Moreover, the region is experiencing a major growth owing to the presence of strong customer base for luxury vehicles. The region is also expected to maintain its dominance over the forecast period. Moreover, the emerging economies across the globe are also anticipated to create potential demand over the forecast period owing to the increasing investment by major players in the emerging markets.
The players profiled in the global automobile laser headlights market report are OSRAM GmbH, Robert Bosch GmbH, Valeo S.A., SORAALASER, and ZKW Group among others. The key players of the industry are involved in research & development activities for providing more advanced and energy-efficient solutions to the customers and also for the expansion of their product portfolio. The companies are also involved in strategic collaborations for strengthening their foothold in the existing and new markets.
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