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The commercial vehicle advanced emergency braking system (AEBS) market share is expected to increase by 3.3 million units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.75%.
This commercial vehicle advanced emergency braking system (AEBS) market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers commercial vehicle advanced emergency braking system (AEBS) market segmentation by application (LCV and HCV) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The commercial vehicle advanced emergency braking system (AEBS) market report also offers information on several market vendors, including Aptiv Plc, Continental AG, DAF Trucks NV, Delphi Technologies Plc, DENSO Corp., General Motors Co, Haldex AB, Hyundai Motor Group, Intel Corp., Knorr Bremse AG, Magna International Inc., Mando Corp., Mobileye Technologies Ltd., Renesas Electronics Corp., Robert Bosch GmbH, Valeo SA, and ZF Friedrichshafen AG among others.
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Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The efforts toward cost reduction with the integration of advanced sensor technologies is notably driving the commercial vehicle advanced emergency braking system (AEBS) market growth, although factors such as minimal benefits from standardizing incorporation of AEBS may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial vehicle advanced emergency braking system (AEBS) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Commercial Vehicle Advanced Emergency Braking System (AEBS) Market Driver
One of the key factors driving growth in the commercial vehicle advanced emergency braking system (AEBS) market is the efforts toward cost reduction with the integration of advanced sensor technologies. In the commercial vehicle market, customers focus more on safety features that maximize protection as compared to other infotainment features. Customers specifically opt for advanced braking-related safety technologies that aid in preventing collisions. Automakers are incorporating collision avoidance systems in a number of offerings owing to increased customer demand and safety norms. AEBS is considered a standard fitment in the higher-end segment. Governmental regulations mandating the implementation of AEBS in commercial vehicles are forcing OEMs to incorporate such systems into their offerings. Though this implies added cost to manufacturers at the initial stages the AEBS inclusion cost is expected to reduce with increased offerings in the market. Moreover, AEBS is incorporated in economical vehicles, of late. This has been possible as a result of increased competition in the value chain. Cost pressures are being added in the upward direction, of late. Thus, efforts toward cost reduction are expected to positively impact the growth of the global commercial vehicle AEBS market.
Key Commercial Vehicle Advanced Emergency Braking System (AEBS) Market Trend
The AEBS with active steering control in commercial vehicles is a commercial vehicle advanced emergency braking system (AEBS) market trend that is expected to have a positive impact in the coming years. Advanced braking technologies witness continual development in terms of system architecture and functionality. Rapid development in braking technology is taking place in the passenger car market and the commercial vehicle market. The American auto component makers WABCO’ and ‘ZF Friedrichshafen' have developed a technology known as ‘Evasive Maneuver Assist (EMA), which combines WABCO’s technology with ZF’s active steering system. The system works on the principle of WABCO’s technology of OnGuardActive, which is a radar-based collision avoidance technology. EMA comprises a radar-based sensor that identifies the obstacle in front of a vehicle. On detecting the possibility of rear-ending collisions, the system sends alert signals to the driver in the form of audio and haptic signals. The system not only helps in preventing collisions but also aids the driver in safely steering the vehicle in order to bring the truck or trailer to a complete halt. Thus, a combination of technologies such as electronic braking, electronic stability control (ESC), and AEBS is used to prevent collisions and causalities.
Key Commercial Vehicle Advanced Emergency Braking System (AEBS) Market Challenge
The minimal benefits from standardizing the incorporation of AEBS are a major challenge for the global commercial vehicle advanced emergency braking system (AEBS) market during the forecast period. The automotive markets in Europe and the Americas are witnessing standardization of the incorporation of AEBS in LCVs and HCVs. The governing bodies in the aforementioned regions have adopted strategic measures to make AEBS mandatory in their vehicles by 2022. A number of players in the global commercial vehicle AEBS market are in favor of making AEBS an optional feature in their models instead of standardizing the same. The existing manufacturers believe in offering customers the choice to invest in traditional or advanced braking systems. Standardizing implies a lack of choices for customers. Industry experts believe that standardization restricts continuous innovations and advancements in braking systems. Standardizing AEBS in all commercial vehicles would limit the competition in the global commercial vehicle AEBS market. Though governmental regulations on standardizing AEBS in commercial vehicles would drive the market, it still remains a challenge.
This commercial vehicle advanced emergency braking system (AEBS) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global commercial vehicle advanced emergency braking system market (AEBS) as a part of the global automotive components and accessories market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial vehicle advanced emergency braking system (AEBS) market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the commercial vehicle advanced emergency braking system (AEBS) market encompasses successful business strategies deployed by the key vendors. The commercial vehicle advanced emergency braking system (AEBS) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The commercial vehicle advanced emergency braking system (AEBS) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the commercial vehicle advanced emergency braking system (AEBS) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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