Head-up Display Market is expected to grow from USD 2.10 billion in 2021 to USD 12.95 billion by 2029, at a CAGR of 26.3% during the forecast period 2022-2029 : Greyviews

Pune India, May 19, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the head-up display market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the head-up display market is present across various countries in the above-mentioned regions.

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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the omponent, type, application, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

Global Head-up Display Market Size by Component (Video generators, Projectors/Projection Units, Display units, Software, and Other), Type (Conventional head-up display and Augmented Reality (AR)-based head-up display), Application (Aviation and Automotive), Regions, Segmentation, and forecast till 2029.  

The significant players operating in the global head-up display market are BAE Systems, Continental AG, Denso Corporation, Elbit Systems Ltd., Nippon Seiki Co., Ltd., Panasonic Corporation, Rockwell Collins, STMicroelectronics, Texas Instruments Incorporated, and Visteon Corporation among others. To achieve a substantial market share in the worldwide head-up display market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, BAE Systems is one of the most significant manufacturers and distributors present in the global head-up display market.

Head-up display solutions were originally designed to enable pilots to have access to relevant information with no need to look down at their instrument panel, hence reducing the distraction. It provide pilots with flight data symbology on a transparent combiner glass while allowing them to observe the out-the-window view. On the other hand, the HUD in car enables drivers to get the important information such as warning signals, speed, and indicator arrows for navigation with no need to look down to the secondary display or the instrument cluster.

Increased purchasing power, increased population, and the rising standard of living all over the globe has driven sales of automobiles. This growth in sales of automobiles is fuelling demand for head-up display which is a transparent display mounted on to the dashboard of the cars.  In addition, several automobile manufacturers are offering head-up displays according to the driver's choice of the car's operational parameters in a format that's easy to read and see.

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Scope of Head-up display Market Report

Segmentation Analysis

Projectors/projection units segment is expected to be the fastest growing segment in 2021.

The component offering segment includes video generators, projectors/projection units, display units, software, and other. The projectors/projection units segment is expected to witness considerable growth rate during the forecast period. In the head-up display unit, the need for a projector to display useful information directly into the driver's view, either on a transparent head-up unit or the windshield primarily drives demand for projectors/projection units.

Augmented reality (AR)-based head-up display segment is expected to be the fastest growing segment in 2021.

The type segment includes conventional head-up display and augmented reality (AR)-based head-up display. Augmented reality (AR)-based head-up display segment is expected to witness highest CAGR during the forecast period. The deployment of AR-based head-up display units by luxury cars and commercial vehicles to improve sales has primarily driven growth of this segment. For instance, the 2022 Mercedes-Benz EQS comprises of an augmented-reality (AR) navigation system and color head-up display.

Aviation segment is expected to be the fastest growing segment in 2021.

The application segment includes aviation and automotive. Aviation segment is expected to anticipate to witness highest growth rate during the forecast period. In Aviation sector, the HUD provides a pilot with seamless view of critical flight information, projected directly in the line of sight of pilot. The emergence of innovative lightweight head-up displays in aviation sector is expected to create lucrative growth opportunities for this segment. For instance, in May 2022, BAE Systems, a British multinational arms, security, and aerospace company launched a new lightweight, compact Head-Up Display (HUD) for use in military and commercial aircraft.

Regional Analysis                                                               

The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the head-up display include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.

Europe region witnessed a major share. Growth of this region is mainly driven by the fact that Europe is considered as the leading premium/luxury car-manufacturing region. However, Asia-Pacific is expected to witness highest growth rate during the forecast period. The number of factors such as growing investments in the defense and aviation sector along with the increased sales of semi-autonomous vehicles in the region has driven growth of the Asia-Pacific head-up display market.

Country Analysis

Germany

Germany is one of the leading nations in the mechanical engineering, manufacturing, automotive, and electrical industries. In addition, the country is Europe's major automotive market, with over 25% of all passenger cars manufactured and about 20% of all new car registrations. Hence, demand for head-up display solutions in Germany drives growth of the market.

Germany head-up display market size was valued at USD 0.17 billion in 2021, at a CAGR of 25.67% from 2022 to 2029.

China

China head-up display market size was valued at USD 0.14 billion in 2021 and is expected to reach USD 0.77 billion by 2029, at a CAGR of 24.4% from 2022 to 2029. Rising disposable income in China has favored demand for semi-autonomous vehicles. In addition, the military and aviation sector in the country is seeing considerable investment. For instance, according to estimates presented to the National People's Congress, the country will spend $229.47 billion on defense in 2022. Aforementioned factors are fueling growth of the China head-up display market.

Moreover, China is the world's largest light vehicle manufacturer. In addition, the country has seen a growing demand for luxury electric cars in recent years as it is a vastly populous nation and attracts significant investments from worldwide carmakers. This factor has further contributed to the growth of the China head-up display market.

India                                                                                         

India head-up display market size was valued at USD 0.09 billion in 2021 and is expected to reach USD 0.59 billion by 2029, at a CAGR of 26.4% from 2022 to 2029. India is one of the strongest growing economies in Asia. In addition, the automotive industry in this country worth more than $100 billion and contributes 8% of the country's total export and accounts for 2.3% of GDP of the country.  Growth of the automotive sector has primarily driven demand for head-up displays.

Covid-19 Impact                                                

Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, automobile, etc. The demand for head-up display has decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the manufacturing facilities of head-up display were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for head-up display significantly decreased.

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