Global automotive head-up display market is expected to growat a CAGR of 23.4% during the forecast period (2022-2030). The major drivers for automotive head-up display market are rapid rise in automotive industry, increase in demand of connected vehicles, and increase in awareness about passenger safety. However, the head-up displays in the automotive sector are considered as a promising technology to ensure passenger and vehicle safety since they provide access to information safely without distracting the attention of the driver.
Combiner head up display in automotive head-up display system market is expected to grow at highest CAGR of 24% in the forecast period. Many OEM automotive manufacturers such as BMW (Germany), Mazda (Japan), Toyota (Japan), Volvo (Sweden), Audi AG (Germany) etc. have shown interest in combiner head up display market and already offer these systems in their vehicles owing benefits offered by these systems such as navigation assistance, batter/fuel information, cell phone connectivity and notifications etc. that has become standard technological advancement in automobile industry.
Passenger cars is both dominating and fastest growing vehicle type segment within the global automotive head-up display market. Passenger cars accounts for 65.43% market share in terms of revenue in 2020 and is expected to hold 67% of the market share by 2030. Global passenger cars market is projected to rise at a CAGR of 23.6% during the forecast period 2022-2030. The dominance and fastest growth rate of passenger cars vehicle type segment is attributed to the fact that there’s notable sales of passenger cars globally which is expected to boost the adoption of head-up display in passenger cars and thereby, drive the global automotive head-up display market growth by passenger cars segment.
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Battery Electric Vehicle head-up display system market is expected to grow at the highest CAGR of 25.3% in the forecast period. Global Battery Electric Vehicle (BEV) market is driven by increasing sales of battery electric vehicles and adoption of HUD amongst battery electric vehicle manufacturers. The rise in sales of electric vehicles have been primarily observed in the U.S. representing about over 35% of the share remains as the largest driver. Some of the major BEV manufacturers includes Renault-Nissan (Netherlands), Mitsubishi (Japan), Chevrolet (U.S.), Tesla (U.S.), Toyota (Japan), Ford (U.S.), BMW (Germany) and Volkswagen (Germany). These companies are increasingly incorporating automotive HUD systems in their newer vehicles. For instance, as per company’s website, Volkswagen is to unveil 30 new car models and manufacture 2-3 million electric cars by 2025. Furthermore, BMW and Toyota have also adopted HUD systems in their hybrid vehicles and is expected to incorporate it in electric vehicles. This is expected to promote market growth of automotive HUD in battery electric vehicles during the forecast period.
Asia Pacific automotive head-up display system market is expected to grow at a highest CAGR of 24.1% in forecast period. Asia Pacific is expected to be the most lucrative region for automotive head-up display system market as Asia Pacific is a global leader in terms of production and export of vehicles globally. Japan automotive head-up display system market is expected to grow at a highest CAGR of 24.6% in forecast period. Japan automotive head-up display market is mainly driven owing escalating number of passenger and commercial vehicles along with initiatives taken by the country based multinational private organizations which is further fueling the growth of head-up display market in the country.
Germany automotive head-up display system market is expected to grow at a CAGR of 23.9% in the forecast period. Germany automotive head-up display market is mainly driven by favorable government regulations related to distracted driving and growing adoption of HUD systems in Germany. Furthermore, Germany is considered as car manufacturer hub globally, rising adoption of new vehicle technologies by German car manufacturers companies would augment the growth of automotive head-up display market in region. Companies such as BMW and Mercedes Benz are adopting HUD systems in their cars that is creating lucrative growth opportunities for the growth of the market during the forecast period.
Product launch is the primary strategy adopted by companies in global automotive head-up display system market. New and advanced products help to improve company’s market visibility while competing effectively with key competitors in the market. Partnership and collaboration is the secondary strategy adopted by companies in global automotive head-up display system market. Strategic partnership allows the companies to share their resources to serve their respective self-interest. The partnership also helps to share economic burden and helps to provide better services to consumers. Top companies in the market include Nippon Seiki, Robert Bosch, Visteon Corp, Denso and Continental AG
KEY MARKET MOVEMENTS
Global automotive head-up display market is expected to growat a CAGR of 23.4% during the forecast period (2022-2030).
Combiner head up display in automotive head-up display system market is expected to grow at highest CAGR of 24% in the forecast period.
Passenger cars accounts for 65.43% market share in terms of revenue in 2020 and is expected to hold 67% of the market share by 2030.
Global passenger cars market is projected to rise at a CAGR of 23.6% during the forecast period 2022-2030.
Battery Electric Vehicle head-up display system market is expected to grow at the highest CAGR of 25.3% in the forecast period.
Asia Pacific automotive head-up display system market is expected to grow at a highest CAGR of 24.1% in forecast period.
Germany automotive head-up display system market is expected to grow at a CAGR of 23.9% in the forecast period.
Product launch is the primary strategy adopted by companies in global automotive head-up display system market.
