Global Automotive Laser Headlight market accounted for $1.89 billion in 2019

Global Automotive Laser Headlight market accounted for $1.89 billion in 2019 and is expected to reach $15.40 billion by 2027 growing at a CAGR of 30.0% during the forecast period.

Laser headlights are the automotive components used for lighting the road surface to increase safety, and also to avoid risk of accidents. Laser headlights are an innovative technology used in the automobiles, where laser beams not actually shot on the road instead lasers fires beams on the mirrors incorporated into the headlight system, and later the mirror focuses the beams into a yellow phosphorous filled lens which eventually emits high intensity white light.

Based on vehicle type, the passenger vehicles segment is likely to have a huge demand due to the rise in the production of passenger vehicles across the globe. Rise in penetration of advanced safety features in passenger vehicles is estimated to further boost the automotive laser headlight market across the globe. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the presence of prominent automotive industries in China, Japan, and India that leads to consistent rise in vehicle production.

Growing sales of luxury vehicles equipped with advanced lighting systems, inclination towards comfort and safety features and rising awareness on energy-efficient lighting systems are the major factors driving the market growth. However, high cost of automotive laser headlight is restraining the market growth.