The global automotive emergency braking system market share is anticipated to be valued at an estimated US$ 165093.4 million in 2033, with sales growing at a prolific CAGR of 14.8% from 2023 to 2033. The market will likely reach a valuation of US$ 41525.1 million in 2023; influenced by the increase in traffic accidents and the widespread use of modern braking technologies.
The development of cutting-edge technologies like radar and camera sensors is leading to the development of more advanced emergency braking systems that can recognise a larger range of potential collisions. Because of this, the market for improved emergency braking systems is more likely to grow in the coming years.
With the widespread use of semi-autonomous and autonomous vehicles, the demand for sophisticated emergency braking systems that can accurately support these advanced driving modes will rise. Additionally, there has been a noteworthy increase in the focus on road safety globally in recent years due to the rise in traffic accidents. Given that they can avert accidents and save lives, contemporary emergency braking systems are crucial for enhancing road safety.
As a result, modern safety features like emergency braking systems are in high demand in the automotive industry. Furthermore, more and more people are willing to pay more for cars with these characteristics. In the years to come, these components will act as a substantial growth engine.
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The implementation of government regulations, incentives, or even changes to mandates pertaining to these braking systems will likely have a positive impact on sales of advanced emergency braking systems. Advanced emergency braking systems have better commercial prospects thanks to the government’s enforcement of traffic laws and rules on car and road safety.
Manufacturers can introduce new or enhanced advanced emergency braking systems thanks to technological developments, the introduction of novel and inventive technology, and enhancements to current technology. The market’s midterm outlook will benefit from this element. Changing customer preferences, such as the desire for improved safety features or a preference for a particular type of car, rising purchasing power, and technological advancements are further factors that are driving the market for advanced emergency braking systems.
Thus, all these considerations will aid the growth of the market during the forecast period and growing awareness of the advantages of advanced emergency braking systems.
Key Takeaways:
- High costs of AEBS and limited adoption of these systems in developing countries will likely have an adverse effect on the growth of the market.
- A greater focus on road safety will push the market growth of advanced emergency braking systems in the US.
- The advanced emergency braking systems market in the U.K will expand at a CAGR of 7.6% between 2023 and 2033.
- By technology, the radar segment will generate high demand for the market during the forecast period and will account for 41.5% in 2023.
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Competitive Landscape
Robert Bosch LLC, Continental AG, GKN plc, TRW Automotive Holdings Corp, Changan Automobile Co., Ltd, FAW Group Corporation, Tata Motors Limited, and Mahindra & Mahindra Limited, among others, are some of the primary players in the automotive emergency braking system market profiled in the full version of the report.
Significant market players are focusing on product upgradation, launching novel and innovative products, and developing a strong product portfolio. These businesses engage in strategic partnerships, collaborations, mergers, and acquisitions to strengthen their market position.
Key Segments
By Vehicle Type:
- PV
- CV
By Key Technology:
- Camera
- Fusion
- LiDAR
- Radar
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By Operating Speed:
- High Speed-Inter Urban AEB Systems
- Low Speed-City AEB Systems
- Pedestrian-VRU (Vulnerable Road Users) AEB Systems
By Application:
- Forward Emergency Braking
- Reverse Emergency Braking
- Multi-directional Braking
By Level of Automation Driving:
- Autonomous Passenger Car
- Semi-Autonomous Passenger Car
By Component:
- Actuators
- Audible Buzzers
- Controllers
- Sensors
- Visual Indicators
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
More Insights into Automotive Emergency Braking System Market
In its latest report, FMI offers an unbiased and detailed analysis of the global automotive emergency braking system market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of vehicle type, key technology, operating speed, application, level of automation driving, component, and region.
According to the same reports, based on segmentation, the radar segment will lead the market owing to a high preference for the technology. The electronic stability control category will also gain traction in the assessment period due to the belief that it helps drivers to regain control of their vehicles in emergencies.
Based on region, the advanced emergency braking systems market will perform well in countries like the US, the U.K, China, and India. The U.K market will grow at a CAGR of 7.6% between 2023 and 2033. Government regulations, increasing demand for safety features, and a greater focus on road safety will propel the advanced emergency braking systems market forward in the U.K. China, India, and the US will also present notable growth in the advanced emergency braking systems market during the projection period.
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