Automotive Laser Light Market: Global Industry Analysis And Forecast (2024-2030)

Automotive Laser Light Market was valued at USD 30.94 Bn. in 2023, and it is expected to reach USD 44.71 Billion by 2030, exhibiting a CAGR of 5.4 % during the forecast period (2024-2030)

Automotive Laser Light Market Overview:

Lightning-fast changes are being made to automobile lighting. LED headlights were only available as OEM components for automobile owners in the most recent few years. Only a few automakers still sell LED car lights, and they are often ordered as an option rather than being included as part of the vehicle's basic illumination. When it first began, automotive lighting technology was a crude and inexpensive way to provide lighting inside and outside of cars. In the beginning, incandescent bulbs were used, which were heavy, hot, and required a lot of battery power. Then a change occurred, and manufacturers began utilising LED, HID, and Xenon technologies for illumination.Automotive Laser Light MarketTo know about the Research Methodology:-Request Free Sample Report

Automotive Laser Light Market Dynamics

Market Growth Drivers: The automotive laser lighting market is primarily driven by the manufacturing of automobiles, but other factors such as the dominance of LED and other types of lighting in the market are also contributing to the growth of this technology in vehicles. Since the automobile laser illumination business is still in its infancy, it has just a single-digit penetration rate in the present market environment. Such lighting systems are factory installed in several high-end flagship cars produced by different automakers. As a result, the market for automotive laser illumination is seeing an increase in sales income. Due to rising customizing activities, aftermarket alternatives are also projected to grow in the forecast period, which will help the vehicle laser lighting market to grow. Electric car production and use have never received as much attention as they do now. Since automobile laser illumination systems use less electricity than LED systems do, electric car makers are likely to be interested in incorporating it into their vehicles. Due to the high cost of raw materials, the complexity of the systems, and the fact that the automotive laser lighting industry is still in its early phases of growth, the players who operate in it primarily belong to the organized category. Since LED lights use less electricity and have a longer lifespan than halogen and HID lights, car manufacturers are very interested in incorporating them into their vehicles. Additionally, LED lights are superior to all other lighting technologies since they are strong and durable and feature high-quality light-emitting diodes. New lighting technologies are being developed by the automakers, who are concentrating on the main lighting fixtures like headlights. To stay ahead of the competitors in the market, they are forming alliances. A key element in creating a secure environment for nighttime driving is the use of headlights. For example, Volkswagen and Hella collaborated to create the IQ.LIGHT LED headlights. The IQ.LIGHT-LED Matrix Headlamps with 256 LEDs are used on the new Touareg SUV in the premium segment.

Trends and Opportunities:

Increase in R&D spending on headlight technology: Since the introduction of incandescent lights, the automobile industry has experienced the introduction of several cutting-edge lighting solutions. The technical differences between LEDs and OLEDs are negligible. OLEDs are more flexible, energy-efficient, and thin versions of LEDs that have improved technology. In contrast to LEDs, they may emit a variety of colours. They can be used in automobiles as interior lights, taillights, and signal lights. When it comes to the deployment of LED lighting, Audi is at the forefront. The market's suppliers have boosted their spending on R&D for innovations like OLED and laser lighting panels. Given the huge market potential, they are driven to make investments in R&D to create technologies for low-cost production. Additionally, companies are creating technological standards for each product via an effective R&D process. There is rising demand for luxurious and comfortable cabin amenities The car industry is now experiencing a technological revolution that is fusing new technology and traditional vehicle production. In response to the rising popularity of electric vehicles, manufacturers of automotive lighting are developing new lighting technologies to replace antiquated conventional lights. Electric vehicle manufacturers are releasing new automobile models with the best interiors. Lucid Motors, for instance, unveiled Lucid Air in September 2020. This sophisticated electric vehicle is based on Lucid's original Space Concept concept and has a full-size luxury-class interior. Future advancements in interior lighting will mostly be motivated by needs for safety, communication, comfort, and style. Some of the newest lighting technologies include light projections, smart LEDs, micro-LEDs, smart functional surfaces, laser-based lighting, guiding materials for 3D light patterns on-demand, and area backlighting with hidden-until-lit effects. Cabin lighting is becoming more common. They mostly consist of reading and dashboard lights. Reading lamps, ambient interior lighting systems, and roof modules with improved light guiding technology are some examples of interior lights. Adaptive lighting systems are also expanding positively, albeit their needs are still far lower than those of LED lights. Market Growth Restraints: On the other hand, the market growth for automotive laser light systems may be hampered by the complexity and high cost of the systems. Additionally, during the forecast period, the market for automotive laser light might be hampered by LED lighting's dominant market share.

Automotive Laser Light Market Segment Analysis

In the global automotive laser light market, passenger vehicles accounted for a sizeable market value share in 2023 and are expected to grow significantly throughout the forecast period. High production and sales of passenger automobiles globally are the main causes of the segment's growth. According to OICA, over 75% of the world's vehicle output was made up of passenger cars. The main factors driving up passenger car production globally include rising demand for high-end and luxury automobiles as well as the quick rise of battery-powered vehicles. The market for automotive laser lights in passenger vehicles is growing as a result of increased purchasing power and Gross Domestic Product (GDP) in emerging countries, which has motivated automakers to include advanced technology in their car models. On the other hand, commercial vehicles saw profitable growth over the forecast period thanks to a rise in demand for logistics vehicles and leisure vans. The need for commercial transportation has grown significantly as a result of the notable rise in the e-commerce and retail industries. Additionally, the commercial vehicle makers have been driven by the tourism and travel industry's rapid expansion to include automation and cutting-edge safety features in the vehicle, which is anticipated to drive the commercial vehicle segment's growth during the forecast period. According to technology, intelligent laser lights accounted for the largest revenue share in the automotive laser light market in 2023 and are expected to grow quickly over the forecast period. This is a result of the growing need for advanced technologies. A further factor that substantially contributes to the market's growth is the rising demand for autonomous vehicles, coupled with electric and hybrid automobiles. Other significant factors driving the demand for intelligent laser lights in the automotive industry are the implementation of the Internet of Things (IoT) and sensors to help drivers while driving and improve safety features to prevent accidents.

Automotive Laser Light Market Regional Insights

Automobile Laser Lighting market in North America and Europe will see increasing installation rates due to increased demand for luxury vehicles, but this may not be the case in the Asia Pacific, where buyers choose low-end vehicles with simple amenities. However, it is anticipated that during the first half of the forecast period, the automobile Laser Lights market in the aforementioned areas would expand slowly before picking up during the second half. The success of the automotive laser light market in developed regions will determine the market in South America and other developing regions. As a result, once the market in developed regions reaches maturity, the market in these regions is expected to grow during the forecast period. Thanks to the presence of significant manufacturers like OSRAM GmbH and Valeo S.A., Europe is now leading the world market for automotive laser lights on a regional basis. Additionally, the region's established firms commanded a sizable portion of the global market. Additionally, the region is growing significantly as a result of the substantial demand for luxury cars in the region. Throughout the forecast, the region is also anticipated to continue to dominate. Due to the increased investment by major companies in emerging countries, it is also projected that the developing markets throughout the world would generate potential demand over the forecast period.

Automotive Laser Light Market Scope: Inquire before buying

Automotive Laser Light Market
Report Coverage Details
Base Year: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: US $ 30.94 Bn.
Forecast Period 2024 to 2030 CAGR: 5.4% Market Size in 2030: US $ 44.71 Bn.
Segments Covered: by Vehicle Type Passenger Cars Commercial Vehicles
by Technology Intelligent Conventional
by Product Type Breathable Cover Non-Breathable Cover

Automotive Laser Light Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Automotive Laser Light Market Key Players

1. Koito Manufacturing Ltd 2. Valeo Group 3. Hella KGaA Hueck & Co. 4. Magneti Marelli S.p.A 5. OSRAM 6. SORAALASER 7. ZKW Group 8. CMS laser 9. Audi AG 10. BMW Group 11. Zizala Lichtsysteme 12. SLD Laser 13. Robert Bosch GmbH 14. Valeo S.A. 15. LASER Component. 16. Palomar Technologies 17. Koito manufacturing Co. Ltd 18. Marelli Holdings Co. Ltd. 19. Koninklijke Philips N.V. 20. GUANGZHOU LEDO ELECTRONIC CO., LIMITED Frequently Asked Questions: 1] What segments are covered in the Global Automotive Laser Light Market report? Ans. The segments covered in the Automotive Laser Light Market report are based on Type, Vehicle Type, and Region. 2] Which region is expected to hold the highest share in the Global Automotive Laser Light Market? Ans. The North America region is expected to hold the highest share in the Automotive Laser Light Market. 3] What is the market size of the Global Automotive Laser Light Market by 2030? Ans. The market size of the Automotive Laser Light Market by 2030 is expected to reach USD 44.71 Bn. 4] What is the forecast period for the Global Automotive Laser Light Market? Ans. The forecast period for the Automotive Laser Light Market is 2024-2030 5] What was the market size of the Global Automotive Laser Light Market in 2023? Ans. The market size of the Automotive Laser Light Market in 2023 was valued at USD 30.94 Bn.
1. Global Automotive Laser Light Market: Research Methodology 2. Global Automotive Laser Light Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Automotive Laser Light Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Automotive Laser Light Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Automotive Laser Light Market Segmentation 4.1 Global Automotive Laser Light Market, by Vehicle Type (2023-2030) • Passenger Cars • Commercial Vehicles 4.2 Global Automotive Laser Light Market, by Technology (2023-2030) • Intelligent • Conventional 4.3 Global Automotive Laser Light Market, by Product Type (2023-2030) • Breathable Cover • Non-Breathable Cover 5. North America Automotive Laser Light Market(2023-2030) 5.1 North America Automotive Laser Light Market, by Vehicle Type (2023-2030) • Passenger Cars • Commercial Vehicles 5.2 North America Automotive Laser Light Market, by Technology (2023-2030) • Intelligent • Conventional 5.3 North America Automotive Laser Light Market, by Product Type (2023-2030) • Breathable Cover • Non-Breathable Cover 5.4 North America Automotive Laser Light Market, by Country (2023-2030) • United States • Canada • Mexico 6. Europe Automotive Laser Light Market (2023-2030) 6.1. European Automotive Laser Light Market, by Vehicle Type (2023-2030) 6.2. European Automotive Laser Light Market, by Technology (2023-2030) 6.3. European Automotive Laser Light Market, by Product Type (2023-2030) 6.4. European Automotive Laser Light Market, by Country (2023-2030) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Automotive Laser Light Market (2023-2030) 7.1. Asia Pacific Automotive Laser Light Market, by Vehicle Type (2023-2030) 7.2. Asia Pacific Automotive Laser Light Market, by Technology (2023-2030) 7.3. Asia Pacific Automotive Laser Light Market, by Product Type (2023-2030) 7.4. Asia Pacific Automotive Laser Light Market, by Country (2023-2030) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Automotive Laser Light Market (2023-2030) 8.1 Middle East and Africa Automotive Laser Light Market, by Vehicle Type (2023-2030) 8.2. Middle East and Africa Automotive Laser Light Market, by Technology (2023-2030) 8.3. Middle East and Africa Automotive Laser Light Market, by Product Type (2023-2030) 8.4. Middle East and Africa Automotive Laser Light Market, by Country (2023-2030) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Automotive Laser Light Market (2023-2030) 9.1. South America Automotive Laser Light Market, by Vehicle Type (2023-2030) 9.2. South America Automotive Laser Light Market, by Technology (2023-2030) 9.3. South America Automotive Laser Light Market, by Product Type (2023-2030) 9.4 South America Automotive Laser Light Market, by Country (2023-2030) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Koito Manufacturing Ltd 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Valeo Group 10.3 Hella KGaA Hueck & Co. 10.4 Magneti Marelli S.p.A 10.5 OSRAM 10.6 SORAALASER 10.7 ZKW Group 10.8 CMS laser 10.9 Audi AG 10.10 BMW Group 10.11 Zizala Lichtsysteme 10.12 SLD Laser 10.13 Robert Bosch GmbH 10.14 Valeo S.A. 10.15 LASER Component. 10.16 Palomar Technologies 10.17 Koito manufacturing Co. Ltd 10.18 Marelli Holdings Co. Ltd. 10.19 Koninklijke Philips N.V. 10.20 GUANGZHOU LEDO ELECTRONIC CO., LIMITED