Press release
Hill-Start Assist System Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions | Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, Mercedes-Benz Group AG
Hill-Start Assist System Global Market Report
The Business Research Company presents an extensive market research report on the Hill-Start Assist System Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The hill-start assist system market size has grown strongly in recent years. It will grow from $3.79 billion in 2023 to $4.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to improved traction control systems, vehicle safety regulations, increased urbanization, consumer demand for safety features, reduced manual transmission usage..
The hill-start assist system market size is expected to see strong growth in the next few years. It will grow to $5.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to autonomous vehicle development, emergence of shared mobility, rise in hybrid vehicle sales, focus on energy efficiency, inclusion in standard safety packages.. Major trends in the forecast period include electronic stability control (esc) systems, driver assistance systems (adas) integration, broader range of vehicle types, automatic transmission systems, innovation in sensor technologies..
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Key Market Players:
Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, Mercedes-Benz Group AG, Hyundai Motor Company, Robert Bosch GmbH, Nissan Motor Co. Ltd., Kia Corporation, The Volvo Group, Renault S.A., ZF Friedrichshafen AG, Continental AG, Mazda Motor Corporation, Subaru Corporation, Mitsubishi Motors Corporation, BorgWarner Inc., Isuzu Motors Ltd., Murata Manufacturing Co. Ltd., Hitachi Automotive Systems Ltd, Knorr-Bremse AG, HELLA GmbH And Co. KGaA, Delphi Automotive, WABCO Holdings Inc., BeijingWest Industries (BWI Group), Peugeot Citroën Automobiles S.A., Transtron Inc. are prominent players in the industry.
Market Drivers:
The increasing adoption of driver assistance systems is expected to propel the growth of the hill-start assist system market going forward. Driver assistance systems refer to electronic technologies that assist drivers in driving and parking functions. A hill-start assist system is a driver assistance system that helps prevent a vehicle from rolling backward down a hill when starting again from a stopped position. For instance, in April 2021, according to the Insurance Institute for Highway Safety and Highway Loss Data Institute, a US-based nonprofit research organization that conducts research related to automotive safety and insurance, adoption of adaptive cruise control with lane centering, a specific type of driver assistance system, is projected to grow significantly from 3% in 2021 to 15% by 2026. Additionally, the deployment of rear parking sensors is expected to surpass 60% fleet penetration by 2026, compared to the 41% recorded in 2021. Therefore, increasing adoption of driver assistance systems will drive the growth of the hill-start assist system market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/hill-start-assist-system-global-market-report
Market Segments Include:
1) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
2) By Vehicle Propulsion: Internal Combustion Engines (ICE) Vehicles, Electric And Hybrid Vehicles
3) By Vehicle Class: Luxury, Economy
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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