LONDON—The global automotive laser headlight systems market is expected grow at a CAGR of appproximately 267% during the period 2016-2020, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global automotive laser headlight system market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top vendors in the market. Additionally, the report discusses the major drivers influencing market growth and summarizes the challenges faced by vendors and the market as a whole.

The high energy efficiency of laser headlights is also expected to be a driving factor for the widespread adoption of such devices in the luxury electric vehicle (EV) segment. Governments in countries like China and the UK offer significant incentives to buyers of EVs and Technavio expects this to be a major driver for laser headlight sales in these geographies.

“The global automotive laser headlight systems market may be favorably impacted by the twin drivers of higher headlight range and precise illumination. The fact that laser headlights provide the longest service lives among all headlight technologies used today is also an upside in this market,” says Siddharth Jaiswal, a lead automotive electronics research expert from Technavio.

Technavio’s automotive research analysts segment the global automotive laser headlight systems market into the following regions:

  • Europe
  • China
  • America
  • ROW

Europe: market to grow at an impressive CAGR of over 405%

The automotive laser headlight systems market in Europe is expected to grow at an impressive CAGR of over 405%. However, the market is expected to stay in a stagnating phase until the end of 2016 due to the limited number of car models that currently support laser headlights. However, the market is expected to grow at a rapid rate from 2017 onwards as five new car models are expected to become available with laser headlight systems. The EU passenger car sales in 2016 have been quite encouraging for the market, with passenger car sales rising by over 9% YoY. All the top five European markets have posted robust sales numbers. Intra-band movement between optional to standard bands is expected to be the primary growth driver for laser headlights after 2019, until new car models are added to the portfolio.

China: largest automotive market in the world

China is the largest automotive market in the world accounting for 24.9 million units, which is over 27% of the global automotive sales in 2014. China’s massive population along with strong economic growth is the driving factor for the rapidly growing automotive market. Apart from a strong domestic market, China remains an export hub for the automotive industry with most international OEMs and tire suppliers having off-shore manufacturing facilities in China.

As a result of the strong growth in the automotive electronics industry in China, the automotive laser headlight systems demand is expected to register steady growth. China is a manufacturing hub for most of the electronic components in the world, and this has facilitated a well-established market and supply chain for automotive components (including consumer and automotive electronics) in the country.

America: largest market for automotive laser headlight systems

The US is currently the largest market for automotive laser headlight systems. This is due to multiple factors, including the fact the US is the second-largest passenger car market in the world after China, and the fact that the US is the world's largest economy.

Moreover, the US has the largest number of billionaires in the world. This is an indicator of the relative affluence of the US population and its ability to afford luxury cars, wherein the laser headlight systems are currently available as an offering.

ROW: Japan, Canada and Russia to be the biggest markets in this region

Japan is the third-largest automobile market in terms of both sales and production. It is one of the mature economies in APAC with a vibrant automotive, automotive electronics, and EVs market with a developed supply ecosystem which indicates high potential for the adoption of new technology offerings.

Canada is termed as the luxury utility nation by Canadians and luxury vehicle manufacturers worldwide. Almost all the growth in the Canadian luxury market since 2005 has been in the utility vehicles space. The Lincoln MKC, BMW X1, Infiniti QX50, and Mercedes-Benz’ GLA-Class are the most popular luxury SUVs sold in Canada. In order to meet this growing consumer appetite for SUVs, car manufacturers have been rolling out more and more new luxury utilities.

“The impact of this growth in luxury car sales in Russia too, is expected to be positive on the laser headlights space, with wider luxury sales driving a proportionate rise in the sales of laser headlights,” says Siddharth.

The top vendors in the global automotive laser headlight systems market highlighted in the report are:

  • BMW
  • Audi
  • Osram
  • ZKW
  • Soraa

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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