New York, US, Oct. 28, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Laser Headlight Market Research Report: Information by Technology Type, Vehicle Type, Sales Channel, Power Type, and Region - Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 18.64 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 30% during the assessment timeframe.
Laser Headlight Market Overview:
A laser beam refers to a light that activates a gas, which then glows bright white, emitting intense light. Laser lights have the power that they are much smaller and can brighten the road much further ahead. The global market for laser headlights has recorded massive expansion in the last few years, given the factors such as the rapid development of the automotive sector and technological developments.
Laser Headlight Market Competitive Analysis
The catalog for crucial participants across the global Laser Headlight Market includes players such as:
- Osram Licht AG (Germany)
- Robert Bosch (Germany)
- Hella KGaA Hueck & Co (Germany)
- SLD Laser (Germany)
- KOITO MANUFACTURING CO., LTD (Japan)
- Valeo (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- ZKW Group (Germany)
- Marelli Holdings Co, Ltd (Italy)
- Palomar Technologies (US)
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Laser Headlight Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 18.64 Billion |
| Growth Rate | CAGR of 30% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Increasingly rising number of incidents worldwide |
| Key Market Drivers | · Increasing technological developments · Adoption of laser headlights |
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Laser Headlight Market USP Covered
Laser Headlight Market Drivers
The global Laser Headlight Market has recorded massive growth in the last few years. The main parameter supporting the growth of the market is rapid urbanization. Furthermore, the factors such as demand for smart cities around the world, usage of passenger cars & light commercial vehicles, innovative safety features, investments in research & development activities, growing use of sensors, and integration of advanced safety systems are also likely to boost the growth of the market over the coming years.
Laser Headlight Market Restraints
On the other hand, the high cost of these lasers is likely to restrict the market's growth.
COVID-19 Impact
The world has witnessed several changes in recent times, given the arrival of the global health crisis in the form of COVID-19, which ended up affecting most of the industry across the globe. Just like all the market areas, the global Laser Headlight Market also witnessed several unexpected challenges during the pandemic. On the other hand, with all the industrial and financial activities returning to normal, the global market for laser headlights is anticipated to overgrow over the coming years.
Laser Headlight Market Segment Analysis
Among all the vehicle types, the passenger vehicle segment is anticipated to hold the top position across the global market for laser headlights over the review era. The central aspect supporting the segment's growth is the high production and sales of passenger vehicles globally. The constant rise in demand for premium and luxury cars and fast growth in battery-powered vehicles will likely boost the segment's growth over the review era. Furthermore, factors such as the implementation of smart and high-end technology in their car series and the increase in purchasing power and Gross Domestic Product (GDP) across developing nations are also likely to catalyze the segment's growth over the coming years. On the other hand, the commercial vehicle segment is anticipated to show a maximum growth rate over the coming years. the growth of the segment is ascribed to the factors like rising demand for logistics vehicles & recreational vans, significant growth in the tourism & travel industry, deployment of automation and advanced safety features, and growth in e-commerce & retail sectors.
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Among all the power types, the 35W segment will likely dominate the global laser headlight market during the review era.
Among all the technology types, the intelligent segment will likely secure the top spot across the global market for laser headlights during the assessment timeframe. The growing demand for intelligent and innovative technology is the main parameter supporting the segment's growth. Furthermore, factors such as implementing the Internet of Things (IoT) & sensors, escalating demand for electric and hybrid cars, and rising autonomous vehicles will likely boost the segment's growth over the coming years.
Among all the sales channels, the OEM segment is anticipated to hold the top position across the global market of laser headlights over the forecasted era.
Laser Headlight Market Regional Analysis
The global Laser Headlight Market is analyzed across five major parts: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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According to the research reports by MRFR, the Asia-Pacific region is anticipated to hold the top position across the global market for laser headlights over the review era. The constant increase in vehicle production across the region is considered the main factor is supporting the regional market's growth. Furthermore, the high penetration of smart & intelligent automotive electronics is another crucial parameter supporting the regional market's growth. Moreover, the high consumer base for the automotive industry, particularly in China and India, is also likely to motivate the automakers to deploy smart and attractive lighting technologies in their deliverables to attract more customers, which in turn is anticipated to catalyze the regional market's growth over the assessment era.
The laser headlight market for the European region is anticipated to record massive growth over the coming years. the growing technological developments coupled with the adoption of laser headlights are considered to be the prime aspects supporting the growth of the regional market. Furthermore, the substantial existence of prominent market players such as OSRAM GmbH and Valeo S.A., along with the strong consumer base for luxury & premium cars, is also projected to catalyze the growth of the regional market over the forecasted era.
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