The automotive emergency braking system market was valued at approximately USD 29,524.56 million in 2022. By the end of 2023, it is projected to reach USD 31,616.27 million. The market is expected to experience a compound annual growth rate (CAGR) of 8% during the forecast period, potentially reaching USD 68,257.16 million by 2033. This growth is driven by increasing traffic accidents and the widespread adoption of advanced braking technologies.
The development of advanced technologies, such as radar and camera sensors, is enhancing the capabilities of emergency braking systems, enabling them to detect a broader range of potential collisions. This technological advancement is a key factor propelling the market for advanced emergency braking systems.
The growing use of semi-autonomous and autonomous vehicles is also boosting demand for advanced braking systems that can effectively support these sophisticated driving modes. The global emphasis on road safety, driven by the rising number of traffic accidents, further underscores the importance of advanced emergency braking systems, which play a crucial role in reducing accidents and saving lives.
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The automotive industry’s demand for advanced safety features is rising, with consumers increasingly willing to pay a premium for vehicles equipped with these systems. Government regulations and incentives related to safety features will likely enhance the adoption of advanced emergency braking systems. Traffic safety regulations and road safety mandates imposed by governments are also expected to strengthen market prospects.
Technological advancements and innovations in emergency braking systems, as well as improvements to existing technologies, will positively influence the market’s midterm outlook. Additionally, shifting consumer preferences for enhanced safety features, increased purchasing power, and growing awareness of the benefits of advanced emergency braking systems will contribute to the market’s growth 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.
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.
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Key Segmentations
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)
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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