During the anticipated period, the market for trailer assist system is anticipated to grow at a robust CAGR of 4.2%. The market for trailer assist systems is expected to grow from its present value of US$ 22 billion in 2022 to US$ 33.20 billion by 2032.
The system that makes it easier for a vehicle to move in reverse direction in a precisely straight line is defined as trailer assist system. With the help of trailer assist system, the drivers do not require to rethink the circumstances when reversing with the trailer. Moving the trailer to the right and steering wheel to the left is not required with trailer assist system. To reverse with a trailer assist system, the reverse gear has to be selected by the driver and the button has to be pressed to activate the system. The steering angle can be seen on the cluster of the instrument.
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The intended direction can be set by using the mirror adjustment switch which functions like a joystick and helps the driver only to operate with the brakes and accelerator as the steering commands are received by the vehicle which is given by the trailer assist system. This helps to automatically move the trailer in the required direction.
Trailer Assist System Market: Dynamics
The demand for comfort and safety has always been a prime inclination in vehicles and its manufacturing. Accidents are increasing due to inefficiency of the drivers while parking a vehicle. To minimize these errors by the drivers and to mitigate the risk to prevent accidents will lead the market for trailer assist system.
Depending on the different functioning of the vehicles, trailer assist system has different functioning from passenger cars to LCVs and HCVs. Therefore, it will lead the manufacturers to manufacture more efficient trailer assist system which will drive the market during the forecast period.
Trailer Assist System Market: Market Participants
Examples of few of the key market participants in the global trailer assist system market, identified across the value chain include:
- Continental AG
- Robert Bosch GmbH
- Magna International
- WABCO
- Westfalia
- Valeo
- Garmin
- Dornerworks
- Carit Automotive
- Towgo
- Echomaster
- Cogent Embedded
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Trailer Assist System Market: Segmentation
The trailer assist system market can be segmented by vehicle type, technology, component, and sales channel.
By vehicle type, the trailer assist system market can be segmented as:
- Passenger Cars
- Compact Cars
- Mid-size Cars
- SUV
- Luxury Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Trucks and Trailers
- Buses and Coaches
- Electric Vehicles
- Battery Electric Vehicles
- Hybrid Electric Vehicles
- Plug-in Hybrid Electric Vehicles
By technology, the trailer assist system market can be segmented as:
- Semi-Autonomous
- Autonomous
By component, the trailer assist system market can be segmented as:
- Camera/Sensor
- Software Module
By sales channel, the trailer assist system market can be segmented as:
- OEM (Original Equipment Manufacturer)
- Aftermarket
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Report highlights:
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- Potential and niche segments, geographical regions exhibiting promising growth
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