Press release
Global Automotive Emergency Braking Market by Vehicle Type, Technology and Geography - Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023
The global automotive emergency braking market is expected to witness significant growth in the coming years, owing to rising customer demand for safety features and technology in automobiles and increasing government mandates and regulations for the incorporation of the emergency braking system in automobiles. The increasing demand for premium vehicles is also anticipated to benefit the market during the forecast period.Request for Sample Copy of Research Report At: https://www.psmarketresearch.com/market-analysis/automotive-emergency-braking-market/report-sample
Based on vehicle type, the market is categorized into passenger cars and commercial vehicles. During the forecast period, the passenger car category, especially premium luxury cars, is expected to dominate the automotive emergency braking market. The increasing production of passenger cars and rising income levels are major factors fueling the demand for the emergency braking system.
Based on technology, the industry is categorized into dynamic brake support (DBS) and forward collision warning (FCW). During the forecast period, the FCW technology is expected to lead the automotive emergency braking market. Since the intensity of collision is high in the forward direction, owing to high vehicle speed in that direction, there is a growing need to equip vehicles with the emergency braking technology.
Government mandates regarding the installation of safety-related systems in automobiles is the key driver for the automotive emergency braking market. For instance, in March 2016, the U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety announced an agreement with 20 automakers, constituting more than 99% of the U.S auto industry, to incorporate the emergency braking system in all new cars by 2022.
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High installation cost of the automotive emergency braking system, as compared to the conventional braking system, is one of the major factors restraining the growth of the automotive emergency braking industry. The inclusion of this system in vehicles increases the price of the vehicle by $500–$1000. The cost associated with R&D as well as the requirement of superior sensors, processors, and controllers increases the upfront cost of the system—another factor refraining small-scale automotive manufacturers from investing in the system.
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Automotive Emergency Braking Market Competitive Landscape
The global automotive emergency braking industry is consolidated, with few established players operating in the industry. Technological barriers and high R&D costs pose a challenge to the new players entering the market. Some of the major players in the automotive emergency braking market are Continental AG, Autoliv Inc., DENSO Corporation, Tesla Inc., Magna International Inc., and Robert Bosch GmbH.
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