May 07, 2020
According to the research report titled ‘Automatic Emergency Braking Market Size By Brake , By Vehicle, By Technology, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024’, available with Market Study Report LLC, worldwide automatic emergency braking market is expected to register a substantial growth rate during 2018-2024.
Numerous road fatalities and increasing awareness pertaining to vehicle safety are major factors driving the growth of automatic emergency braking market. The market is expected to further expand owing to strict government regulations regarding vehicle safety and shifting focus of automakers towards improving production efficiency. Advancements in manufacturing processes such as rapid prototyping and lean manufacturing techniques are also stimulating the industry outlook.
There has been an upsurge in automotive manufacturing capacities in Japan, China and the U.S. Also, passenger cars equipped with advanced technologies have been witnessing substantial sales across the globe, which in turn is fostering the demand for automotive emergency braking systems.
By brake type, disc brake segment held 65% volume share in 2017 and is anticipated to record a remunerative growth during the forecast period. Disc brakes are being incorporated in high-end luxury vehicles owing to their advantages such as better heat circulation and self-adjusting capability.
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In terms of vehicle type, ICE segment recorded a 17% growth rate in 2017, primarily due to its benefits such as drivability and stability. These engines provide with better power to weight ratio as well as superior thermal efficiency. Rapid expansion of fuel retail infrastructure has impelled the demand for conventional automobiles.
As per technology spectrum, crash imminent braking segment is presumed to expand substantially during the study period. Shifting preferences towards crash avoidance technologies owing to their capability of identifying potential forward crash situations will favor the market outlook. The technology also prevents the deterioration of braking components and lowers the energy consumption considerably.
Based on the regional scope, Asia-Pacific automatic emergency braking industry is poised to amass notable gains in the subsequent years. Increasing sales of passenger vehicles along with shifting focus towards enhancing automotive production are complementing the business dynamics in the region.
ZF TRW Automotive, Mobileye, Delphi Technologies, Continental AG, Bosch Group, Autoliv Inc. and Magna International Inc. are the prominent companies operating in global automatic emergency braking market.