Mechanical LiDAR market is projected to grow at a CAGR of 45.78% during the forecast period, reaching a total market size of US$7,574.932 million in 2024 from US$789.233 million in 2018. Mechanical LiDAR covers a significant market share of the LiDAR on account of being the earliest type of LiDAR. It has a motor that rotates the LiDAR and provides a wide (3600) field of view.
The market of mechanical LiDAR is driven by the growing demand for enhanced reliability. However, the high price and heavyweight of mechanical LiDAR may hamper the growth of the market. The presence of substitutes such as flash LiDAR and other solid-state LiDARs may restrain the growth of the market. Geographically, North America will have a significant market share on account of the progression towards autonomous vehicle technology in commercial cars, robust technology and early adoption of technology.
The “Mechanical LiDAR Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by component, application, and geography.
The mechanical LiDAR market has been segmented based on component, applications, and geography. By component, the market has been segmented into transmitter and receiver. By application, the market has been classified into automotive, surveillance, and robotics.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the mechanical LiDAR market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the mechanical LiDAR market.
|Market size value in 2018||US$789.233 million|
|Market size value in 2024||US$7,574.932 million|
|Growth Rate||CAGR of 45.78% from 2018 to 2024|
|Forecast Unit (Value)||USD Million|
|Segments covered||Component, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Luminar Technologies Inc., LeiShen Intelligent System Co., Hesai Technology, Beijing SureStar Technology Co. Ltd., RoboSense, Velodyne Lidar, Inc., Quanergy Systems, Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the mechanical LiDAR market size by 2024?
A1. Mechanical LiDAR Market is projected to reach a market size of US$7,574.932 million in 2024.
Q2. What is the size of the global mechanical LiDAR market?
A2. The global mechanical LiDAR market was valued at US$789.233 million in 2018.
Q3. What are the growth prospects for the mechanical LiDAR market?
A3. The mechanical LiDAR market is projected to grow at a CAGR of 45.78% over the forecast period.
Q4. How is the global mechanical LiDAR market segmented?
A4. The mechanical LiDAR market has been segmented based on components, applications, and geography.
Q5. What factors are anticipated to drive the mechanical LiDAR market growth?
A5. The market of mechanical LiDAR is driven by the growing demand for enhanced reliability.
LeiShen Intelligent System Co.
Beijing SureStar Technology Co. Ltd.
Velodyne Lidar, Inc.
Quanergy Systems, Inc.
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