Automotive Speed Limiter Market to Benefit from Continental AG and GRL Engineers strategies, says Fortune Business Insights(TM)

The increasing adoption of speed limiters for commercial vehicles is a key factor predicted to augment healthy growth of the market, states Fortune Business Insights in a report, titled "Automotive Speed Limiter Market Size, Share & Industry Analysis, By Type (Adjustable Speed Limiter, Intelligent Speed Limiter), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle) Others and Regional Forecast, 2019-2026" the growing inclination of consumers towards fuel-efficient vehicles can enable speedy expansion of the automotive speed limiter market during the forecast period.

The automotive speed limiter market report executes a PESTEL study and SWOT analysis to reveal the stability, restrictions, openings, and threats in the market. Combined with the market analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the market, and all articulated with geographical and merchandise segments. Moreover, it also shows different procedures and strategies, benefactors and dealers working in the automotive speed limiter market size, explores components convincing market development, generation patterns, and following systems. Additionally, the figures and topics covered in this report are both all-inclusive and reliable for the readers.

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List of the major companies that are present in the Automotive Speed Limiter Market include
o Continental AG
o GRL Engineers
o Pinnacle Systems Ltd
o Rosmerta Technologies Limited
o MicroAutotech
o Pricol Limited among the other players.

Rising Road Accidents to Create Demand for Automotive Speed Limiter

The rising cases of road accidents can be one of the crucial factors in boosting the growth of the automotive speed limiter market during the forecast period. The growing government initiatives regarding road safety is also likely to propel healthy growth of the market in the forthcoming years. As per the World Health Organization, approximately 1.35 million people die each year as a result of road traffic crashes. The stats also state, 93% of the world's fatalities on the roads occur in low- and middle-income countries, even though these countries have approximately 60% of the world's vehicles.

The implementation of strict norms and policies by international organizations for automobiles is expected to boost the automotive speed limiter sales during the forecast period. Furthermore, the growing R&D for the development of innovative speed limiters is predicted to create growth opportunities for the market. In addition, the agenda of government towards sustainable road development and prevention of road accidents is expected to accelerate the automotive speed limiter market trends. Besides, the change in consumer's preference and inclination towards safe driving is predicted to fuel demand for automotive speed limiter, which in turn will augment market growth.

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Launch of New Concepts for Aquaplaning Situations by Continental to Facilitate Growth

Continental AG, a German automotive manufacturing company specializing in brake systems, interior electronics, automotive safety, powertrain and chassis components, tachographs, tires and other automotive parts unveiled new concepts to aid drivers with and prevent them from imminent risk of aquaplaning. These concepts are predicted to have a positive impact on the market owing to the solutions offered by the company. Moreover, The National Transport and Safety Authority (NTSA) implemented a rule for Public Service Vehicle (PSV) operators to fit their vehicles with speed governors that relay data in real-time to its database, in a move aimed at taming road accidents.

Presence of Major Players to Aid Growth in Asia Pacific

Geographically, the speed limiter market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific is predicted to dominate the global speed limiter market owing to the presence of key manufacturers. The increasing adoption of advanced technology in the region is predicted to boost the automotive speed limiter market revenue in Asia Pacific. Europe is expected to hold the second-largest position in the market owing to the stringent regulations by the government to curb emissions.

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This release was published on openPR.