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The automotive laser headlight system market share is expected to increase by USD 8.48 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 39%.
This automotive laser headlight system market research report will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive laser headlight system market segmentations by end-user (passenger cars and motorcycles) and geography (Europe, APAC, North America, MEA, and South America). The automotive laser headlight system market report also offers information on several market vendors, including Arkema SA, Audi AG, BMW AG, Guangzhou Sanvi Electronics Co. Ltd., HELLA GmbH and Co. KGaA, HORPOL J.I.A.T. Horeczy Sp. J., Infineon Technologies AG, Koito Manufacturing Co. Ltd., Koninklijke Philips NV, and Marelli Holdings Co. Ltd. among others.
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The precise and targeted illumination is notably driving the automotive laser headlight system market growth, although factors such as high price of automotive laser headlight systems may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive laser headlight system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Laser Headlight System Market Driver
Incorporation of energy-efficient solutions in automobiles is a key driver that will suppport the global automotive laser headlight system market growth. Governments of most countries are promoting the use of energy-efficient vehicles to curb emissions and fuel consumption. Low power consumption by headlights reduces battery drain, ensuring longer service intervals for consumers. Emerging economies such as India are witnessing the implementation of stringent emission regulations, which is promoting the production of energy-efficient vehicles. Most of the prominent OEMs are investing heavily in electric vehicles. Laser diodes are ideal to be used in EVs as they consume some of the least amounts of energy (other than the cooling power required) to operate. This allows their use without any significant impact on the charging cycles of EVs. Hence, the growing adoption of EVs across the world will act as a crucial factor for the rising demand for automotive laser headlight systems.
Key Automotive Laser Headlight System Market Trend
Increase in R&D spending on headlight technology is a key trend positively impacting the global automotive laser headlight system market growth. The automotive industry has witnessed several innovative products in the lighting segment since the adoption of incandescent lights. There is no significant technological difference between LEDs and OLEDs. OLEDs are the advanced versions of LEDs and are more flexible, energy-efficient, and thin. They can emit different colors compared with LEDs. They can be used as signal lights, taillights, and interior lights in vehicles. Audi is the frontrunner in the adoption of LED lighting technology. The vendors in the market have increased their investment in R&D of technologies such as OLED and laser lighting panels. They are motivated to invest in R&D to develop technologies for cost-effective production, considering the significant potential of the market. Moreover, vendors are developing technology standards for every product through an effective R&D process.
Key Automotive Laser Headlight System Market Challenge
High price of automotive laser headlight systems will be a major factor that will negatively impact the global automotive laser headlight system market growth. The cost of this technology will remain a concern for the automotive industry and customers during the forecast period. Hence, unless the price is lowered to a reasonable figure, it becomes difficult to attract a customer base in APAC and South America, where income inequality is quite prevalent. In addition, laser technology is gaining traction in the automotive lighting segment, and only a few motorcycle OEMs are developing related technologies. The cost of this technology remains a concern for automakers and customers alike. Therefore, it will be difficult to incorporate the same in the motorcycles segment unless the price is lowered considerably. Higher volumetric growth is expected to reduce the costs.
This automotive laser headlight system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automotive laser headlight system market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive laser headlight system market during the forecast period.
The report analyzes the global automotive components and accessories market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive laser headlight system market encompasses successful business strategies deployed by the key vendors. The automotive laser headlight system market is concentrated and the vendors are deploying growth strategies such as R&D to compete in the market.
Arkema SA - The company offers various automotive laser headlight systems such as car headlights, taillights, and windows.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive laser headlight system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive laser headlight system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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55% of the market's growth will originate from Europe during the forecast period. Germany is the key market for automotive laser headlight systems in Europe. Market growth in this region will be faster than the growth of the market in South America
Continuous technological advances contribute to the dynamism of persistently developing automotive lighting systems, which will facilitate the automotive laser headlight system market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic affected Europe's automotive industry in 2020. The European Automobile Manufacturers' Association (ACEA) forecasted a 25% decline in passenger car registrations in the European Union, falling from 12.8 million in 2019 to just 9.6 million units in 2020. The demand for automotive laser headlight systems also declined due to a decline in sales and registrations of passenger cars in Europe in 2020. The resumption of automotive manufacturing activities in European countries such as Germany, Italy, and France after the lifting of lockdowns in the second half of 2020 resulted in a rapid increase in the sales of automotive components, including automotive laser headlight systems. It is estimated that the regional market in focus will witness a V-shaped recovery during the forecast period.
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The automotive laser headlight system market share growth by the passenger car segment will be significant during the forecast period. The laser headlight systems are currently banned in the US. The laser headlight technology is expected to find its way in the US during the forecast period, which will support the segment growth in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive laser headlight system market size and actionable market insights on post COVID-19 impact on each segment.
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Automotive Laser Headlight System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 39% |
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Market growth 2021-2025 |
$ 8.48 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
26.47 |
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Regional analysis |
Europe, APAC, North America, MEA, and South America |
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Performing market contribution |
Europe at 55% |
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Key consumer countries |
Germany, China, UK, Italy, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Arkema SA, Audi AG, BMW AG, Guangzhou Sanvi Electronics Co. Ltd., HELLA GmbH and Co. KGaA, HORPOL J.I.A.T. Horeczy Sp. J., Infineon Technologies AG, Koito Manufacturing Co. Ltd., Koninklijke Philips NV, and Marelli Holdings Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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