LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global motorcycle headlight market to grow at a CAGR of close to 6% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the growing popularity of laser headlights as one of the key emerging trends in the global motorcycle headlight market. The need for better range and efficient power consumption have led to the development of laser headlight technology for automobiles. The technology is expected to be introduced in motorcycles during the forecast period. The greater performance and a broader scope of the laser technology are being considered by the automotive OEM that are looking for product differentiation. The laser technology is expected to play a crucial role in collision avoidance systems.
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In this report, Technavio analysts highlight the increasing adoption of new headlights technologies in the automotive segment as a key factor contributing to the growth of the global motorcycle headlight market:
Increasing adoption of new headlights technologies in the automotive segment
Economies of scale play a significant role in leveraging the adoption of advanced technologies across all segments. For example, the adoption of smartphones across the world increased significantly in the last 4-5 years due to the reduced price. This price reduction was propelled by the advantage of economies of scale to the manufacturers. The cost of hardware remains a primary consideration for automotive OEMs and suppliers. By considering the wider applications areas, the OEMs can adopt new technology in a cost-effective manner; this helps them to attain economies of scale, thereby reducing the cost.
According to a senior analyst at Technavio for automotive electronics, “Many innovative technologies are being introduced by the players to improve safety and performance making the automotive lighting market highly competitive. Major drivers for the market growth are the increased focus on vehicle safety and the rising demand for better road lighting by customers. The increasing adoption of LED and laser lights and emphasis on vehicle styling, especially in luxury vehicles, are the key factors driving the adoption of lighting in the passenger car variants.”
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Global motorcycle headlight market segmentation
This market research report segments the global motorcycle headlight market into the following technologies (halogen and LED) and key regions (the Americas, APAC, and EMEA).
Of the two major technologies, the halogen segment held the largest market share in 2017, accounting for nearly 64% of the market. The market share for this technology is expected to witness a massive decline nearly 20% by 2022. The fastest growing technology is LED, which will account for nearly 25% of the total market share by 2022.
APAC was the leading region for the global motorcycle headlight market in 2017, accounting for a market share of nearly 92%. By 2022, EMEA is expected to register the highest growth rate.
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