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 creation of better sophisticated emergency braking systems that can identify a wider spectrum of potential crashes is on the rise as a result of the advancement of cutting-edge technologies like radar and camera sensors. This factor makes the market for enhanced emergency braking systems more likely to expand over the next years.
The requirement for sophisticated emergency braking systems that can accurately support these advanced driving modes will increase as the adoption of semi-autonomous and autonomous vehicles increases. Additionally, due to the increasing frequency of traffic accidents, there has been a noticeable increase in the emphasis on road safety globally in recent years. Modern emergency braking systems are essential for improving road safety since they can prevent accidents and save lives.
As a result, there is a great demand in the car industry for cutting-edge safety devices including emergency braking systems. Additionally, more and more buyers are prepared to spend more for vehicles equipped with these features. These elements will serve as a significant growth engine in the years to come.
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Advanced emergency braking system sales will probably be favourably impacted by the establishment of government rules, incentives, or even the adjustment of mandates relating to these braking systems. The government’s enforcement of traffic laws and regulations on road and vehicle safety also contributes to the improvement of market prospects for sophisticated emergency braking systems.
Technological advancements, the introduction of novel and innovative technology, and the improvements to existing technology assist manufacturers in launching upgraded or new advanced emergency braking systems. This factor will positively influence the midterm outlook of the market. The advanced emergency braking systems market is also driven by elements like shifting consumer preferences like the desire for advanced safety features or the preference for a particular kind of vehicle, increasing purchasing power, and growing awareness of the advantages of advanced emergency braking systems. Thus, all these considerations will aid the growth of the market during the forecast period.
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
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)
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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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