Press release
The Brazilian Automotive Parking Radar Market Comprehensive Insight by Growth Rate, Industry Status, Forecast till 2028
The Brazilian automotive parking radar market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). An automotive parking radar is a mechanical device installed in motor vehicles to warn the driver for avoiding obstacles while parking. The major factor attributing to the growth of the Brazilian automotive parking radar market includes the increasing production of motor vehicles in Brazil. According to the 2021 Production Statistics report published by the International Organization of Motor Vehicle Manufacturers (OICA), an estimation of around 2.2 million motor vehicles were produced in Brazil in 2021. Among these, around 0.5 million commercial vehicles were manufactured and around 1.7 million passenger cars were produced in 2021. Thus, increasing the demand for automotive parking radars in Brazil.The application of automotive parking radar in passenger cars and commercial vehicles is also increasing due to several benefits provided by automotive parking radar while driving. These benefits include precision parking in a tight spot, support in parallel parking, and making maneuvering easier in congested traffic. Furthermore, the application of automotive parking radar is also increasing due to congested traffic in Brazil. According to an article published by the World Highways, Sao Paulo city Brazil suffers from the problem of a congested road network occurring traffic jams every day. The traffic jams of almost 100 KMs are common in everyday routine and it can extend to 200 KMs during weekends & holidays resulting in driving in tight situations. Around 1.1 million vehicles drive in Sao Paulo, and it is estimated that around one-third of the vehicles have to go through the problem of congested traffic. Thus, propelling the growth of the Brazilian automotive parking radar market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances-
• In April 2020, Infineon Technologies acquired Cypress Semiconductor, a leading semiconductor designer and manufacturer. This acquisition will benefit Infineon Technologies in expanding its product portfolio of automotive semiconductors, microcontrollers, and parking radars & sensors.
• In January 2020, a German-based company "Robert Bosch GmbH" launched the first-ever long-range LiDAR sensor that is suitable for the application in automotive.
• In June 2021, Melexis launched two new non-contact position sensors to its existing product portfolio of MLX90364/5/6/7. Melexis is a global microelectronics engineering company.
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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application
o By Technology
o By Sales Channel
• Competitive Landscape- Robert Bosch GmbH, Denso Corp., General Electric Co., BrogWarner Inc., and Texas Instruments, among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
A full report of The Brazilian Automotive Parking Radar Market is available at:
https://orionmarketreports.com/brazilian-automotive-parking-radar-market/108731/
The Brazilian Automotive Parking Radar Market Report by Segment
By Type
• Forward Radar
• Rear View Radar
By Application
• Passenger Car
• Commercial Vehicles
By Technology
• Electromagnetic
• Ultrasonic
• Infrared
By Sales Channel
• OEM
• After Market
Company name: Orion Market Reports
Contact person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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