Mechanical LiDAR Market Size, Share, Opportunities, And Trends By Component (Transmitter, Receiver), By Application (Automotive, Surveillance, Robotics), And By Geography – Forecast From 2024 To 2029

Mechanical LiDAR Market is projected to grow at a CAGR of 45.90% during the forecast period, reaching a total market size of US$49,921.511 million in 2029 from US$3,547.326 million in 2022.

Mechanical LiDAR uses LiDAR technology, in other words, it is called (Light Detection and Ranging) as this laser technology is human-friendly and safe for the human eyes, where it is used to calculate the distance of objects from a particular point. The LiDAR technology is incorporated into the automobile industry. The normal LiDAR sensors exhibit pulsed light rays into the surrounding area. The emitted pulse waves strike back from the surroundings to the sensors again. The sensors used in cars will calculate the distance after each strike from the sensors to its surrounding area.

The LiDAR technology is used in various industries due to its significant features to capture and calculate the object distance found. In the present scenario, the LiDAR technology is used as a key development in remote cars or connected vehicles to navigate the vehicles on the road. Increased demand for self-driving vehicles, the growing prevalence of robotics in industrial spaces, and increased construction activity and surveys are driving the mechanical LiDAR market growth.

Market Drivers

• Increased demand for self-driving vehicles propels the mechanical LiDAR market growth.

The autonomous vehicles demand is a major key driver for the mechanical LiDAR market growth around the world. These self-driving cars mostly rely on these types of advanced sensors to travel through the complex route safely. The implementation of LiDAR technology in these remote vehicles enhances safety as they are capable of capturing objects at a distance for safe driving and identifying obstacles on the road to navigate the vehicle smoothly. The unique feature of LiDAR technology is that it predicts the outcomes at range distances calculates the circumstances and provides the appropriate solution.

The features like long-range object detection through light and 3D mapping enhance mechanical LiDAR technology further developments which provide a safe environment for autonomous vehicles in the future. The laser pulses are the light waves used by LiDAR technology to accurately predict the object and the surroundings as these lasers are capable of traveling at a distance to hit the object and strike it back.

• Growing demand for robotics in industrial space drives the LiDAR market growth.

The LiDAR technology is not only used in the automobile sector but also used in industries for various operations by incorporating LiDAR technology the robots in industries are capable of handling day-to-day operations. These robotics are used in warehouses, logistics places, and factories as these places are most vulnerable in running complex works where these robots and the implementation of LiDAR will help them to complete their task effectively.  

For example, the robot in the warehouse is a place where a variety of products are stored these robots help the warehouse place by placing the appropriate products in their place which will be helpful during shipments of the products. Incorporating LiDAR technology helps the robot to analyse its surroundings by feeding 3D visuals and an obstacle avoidance system. This 3D mapping allows the robots to not only help in feeding visuals but also enhance spatial relationships. The industrial automation increases the mechanical LiDAR technology and plays an important role in upcoming brilliant robots.

• Increased construction activity and survey enhances mechanical LiDAR market growth.

The LiDAR technology is not only restricted to a certain sector, but it can be widely used based on the requirement. The construction and survey of different lands are driving the mechanical LiDAR market. The innovative survey applications are efficient in feeding 3D visuals which makes the operations in different terrain easy. These 3D visuals are so powerful that they create intricate and complex designs to provide accurate insights into the field of construction and agricultural fields.

The LiDAR technology uses pulse laser waves to infuse deep-down areas to provide 3D imaging as it creates highly absolute visuals of terrain consisting of variations in elevation details. These benefit the construction and survey people to get a comprehensive coverage of the environment where the development is planned. These factors help the construction development of a significant foundation that enables LiDAR market growth.

North America is anticipated to grow

North America is projected to account for a significant share of the mechanical LiDAR market due to various factors. The region is well-versed in its automotive manufacturing sector where self-driving cars are a popular choice in the region due to the evolution in the upgradation of autonomous vehicles as these automobile companies depend on mechanical LiDAR technology to build a car due to its capabilities of detecting objects from a distance using pulse wave laser light. The presence of big manufacturing and warehouses drives mechanical LiDAR in the regions of America and Canada where most warehouse and manufacturing plants automated their task by robots there is growing automation, and the use of robots will drive the mechanical LiDAR market in the region.

Market Challenges

• Size and dimensions curb the mechanical LiDAR market growth.

The traditionally designed and produced LiDAR are heavy in weight and have larger dimensions which are not appropriate for coordinating them with small robots and vehicles. These factors slow down the adoption of LiDAR in some of the areas.

• Delicate towards rough environments may hinder the mechanical LiDAR market growth

Mechanical LiDAR is a delegate in nature where in rough natural conditions like fog, smoke, and rain. The system generates 3D visuals through pulse waves which will be disturbed and may not provide an accurate output.

Key Developments

• In December 2023: Robosense a renowned player in LiDAR technology introduced the M series LiDAR technology specifically for the automotive industries. This series of LiDAR technology enables self-driving relentlessly and smoothly by keeping safety as a key point in production. 
• In June 2023: Lumotive partnered with Hokuyo to manufacture next-generation 3D LiDAR technology. The partnership will enhance the innovative landscape to incorporate the technology in robots for industrial space.  

Company Products

Pandar 64: the product offered by Hesai Technology is a long-distance mechanical LiDAR that provides 3D imaging solutions. The product has features like accurate long-range calculation with high-resolution image feeding. The Pandar 64 is designed for Logistics and self-driving cars.

Segmentation

• By Component
  • Transmitter
  • Receiver
• By Application
  • Automotive
  • Surveillance
  • Robotics
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others