Commercial Vehicle & Off-Highway Radar Market is Growing at a CAGR of 27.4%.

The Commercial Vehicle & Off-Highway Radar Market is estimated to be $153 million in 2020 and is projected to reach $831 million by 2027, at a CAGR of 27.4% during the forecast period.

High demand for vehicles with ADAS features to increase safety on the road, reduce collisions, and decrease fuel consumption has pushed for the adoption of commercial vehicle and off-highway radars.

Top Players:

1. Robert Bosch (Germany)
2. Continental (Germany)
3. Aptiv (Ireland)
4. Denso Corporation (Japan)
5. Infineon Technologies (Germany)
6. NXP Semiconductors (Netherlands)
7. Analog Devices (US)
8. HELLA (Germany)
9. Valeo (France)
10. Texas Instruments (US)
11. ZF (Germany)
12. Magna International (Canada).

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The off-highway vehicle segment is expected to have the fastest-growing market in the Asia-Pacific region, by vehicle type, during the forecast period.

As off-highway vehicles work alongside in construction and mining sites, BSD can alert the driver about the presence of a pedestrian/worker, which is of more importance in off-highway vehicles than commercial vehicles. Off-highway vehicles encounter different terrains that have no lanes, no marking, and improper visibility. The radar system is capable of performing in bad weather/ lighting conditions, which match the working conditions of off-highway vehicles. The Asia Pacific is the fastest market for off-highway vehicle radars due to maximum infrastructure projects initiated by governments in the region.

The commercial vehicle is expected to have the largest market share in the commercial vehicle & off-highway radar market, by vehicle type, during the forecast period.

Radar is much more cost-effective compared to other technology such as LiDAR without compromising on significant features. This has enabled its full application across the globe. To tackle speed, distance, direction, and angle of arrival, radars detect moving objects and measure speed which helps in lane maintenance and avoids accidents. Companies are launching and shifting towards ADAS features in commercial vehicles. For instance, in 2017, Volvo Trucks launched its new VNL series of semi-trucks. The truck is equipped with Advanced Driver Assist Systems (ADAS), which includes forward-collision warning, adaptive cruise control, lane departure warning, and automatic emergency braking.

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Europe is expected to account for the second-largest market size during the forecast period.

The European region is expected to be the second-largest market during the forecast period. Europe has been at the forefront to improve the safety of commercial vehicles, for which the EU institutions have announced their plans to mandate vehicles with safety features by 2022. Many of the automotive OEMs in this region have equipped their vehicles with ADAS features as a standard. The trend of adoption of vehicles with advanced safety features in Europe is expected to continue during the forecast period which is also another key factor fuelling the growth of the commercial vehicle & off-highway radar market during the forecast period. However, due to the global wave of CONVID-19, Europe, and other regions as well will have a direct impact on the auto industry. The impact has started with the recent shutdown and halt of companies like Ford, Nissan, and Vauxhall to close plants due to falling sales and lack of parts. This will be causing an economic slowdown in Europe for time being.

Recent Developments:

* In December 2019, Continental announced the launch of the 5th generation automotive radar in 2019. The new detector has higher capacity, and it is also based on a scalable modular principle, which, with its graduated function scopes and flexibly, supports vehicle manufacturers’ different requirements and electrical-electronic (E/E) architectures.

* In August 2017, Denso Corporation developed a 24-GHz submillimeter-wave rear and sided radar sensor to help enhance vehicle safety systems. The sensor was used in the 2018 Toyota Camry. It is built into the rear bumper of the vehicle to detect other vehicles likely to enter the driver’s blind spot from the rear and side, as well as vehicles approaching from the rear on the left and right when reversing.

* In March 2018, Analog Devices, Inc. (ADI) acquired Symeo GmbH, a company that specializes in RADAR hardware and software for emerging autonomous automotive and industrial applications. With this acquisition, ADI now delivers more comprehensive and compelling radar solutions.

* In November 2019, Denso partnered with Metawave to accelerate the development of smart radar systems for autonomous cars. Metawave has been working in radar sensing with its state-of-the-art analog beam-steering radar, which the company claims provides more extended range, higher resolution, and greater accuracy and intelligent object classification compared to traditional detectors.

* In February 2020, HELLA introduced its latest 77 GHz radar technology. Initially, the company will supply it to Asian manufacturers of trucks and buses.

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