The global automobile laser lights market is anticipated to grow at a significant CAGR of 8.2% during the forecast period (2022-2028). The global automobile laser lights market is growing due to the rising demand for vehicle production. Laser lights have more efficiency than LED lights with high visibility range and compact size. The rise in passenger safety awareness globally is also boosting the demand for automobile laser lights. The rising road accident cases globally due to increasing traffic flow at night and the awareness to have a clear vision while driving at night are also boosting the growth of the market. The rising government initiatives and road safety regulations to minimize the rate of road accidents are expected to propel the growth of the market. Additionally, the increasing technological advancement in vehicles along with rising disposable incomes in emerging economic countries is generating new opportunities for the market growth.
The Asia-Pacific region is anticipated to hold the major share in the global automobile laser lights market. The Asia-Pacific region is the major producer of automotive vehicles globally. China and India are the contributing nations in this regional market owing to the highest sales of automotive vehicles in this region.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-
- In January 2021, KYOCERA SLD Laser, Inc. announced the launch of dual emission white light and infrared “LaserLight” source for automotive and consumer lighting, night vision illumination, precision long-range sensing beyond 250 meters, and high-speed Wi-Fi communications faster than 20 gigabits per second.
- In June 2020, Corning Inc. announced its collaboration with Innolux Corp. for design and manufacturing opportunities of Corning Laser Technologies with a full automation system for its high-end auto display panel manufacturing process, enabling superior design flexibility, improved cutting accuracy, and manufacturing excellence of glass sensor panels for automotive applications.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- ZKW, LASER COMPONENTS, KOITO MANUFACTURING CO., LTD., HELLA GmbH & Co. KGaA, and Robert Bosch GmbH, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Automobile Laser Lights Market Report by Segment
By Type
- Halogen
- Xenon
- LED
- Other
By Application
- Passenger Vehicles
- Commercial Vehicles
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