The automotive emergency braking system market was projected to be USD 29,524.56 million in 2022. By the end of 2023, the industry is likely to reach a valuation of USD 31,616.27 million. During the forecast period, the global market for automotive emergency braking system is expected to garner a 8% CAGR and reach a size USD 68,257.16 million by 2033.
| Attributes | Details |
|---|---|
| Estimated Market Value in 2022 | USD 29,524.56 million |
| Expected Market Value in 2023 | USD 31,616.27 billion |
| Expected Market Value in 2033 | USD 68,257.16 million |
| Value based CAGR from 2023 to 2033 | 8% |
Key Industry Trends and Highlights
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| Report Attributes | Details |
|---|---|
| Market Value in 2022 | USD 29,524.56 million |
The market for automotive emergency braking systems was probably driven by a few significant factors. The introduction of these systems was driven by stricter safety rules and mandates in a number of regions, including the United States and Europe. Demand increased as a result of the growing awareness of the advantages of innovative safety technology and consumer desire for vehicles with emergency braking systems.
Manufacturers and suppliers continued in developing and improving these systems, increasing their efficiency and effectiveness. Developments in artificial intelligence and sensor technology increased the precision and dependability of these systems, increasing their attractiveness to manufacturers and customers alike.
The table below lists the top five nations expected to experience prominent growth during the forecast period. China and India are predicted to have the maximum development among these nations.
Forecast CAGR from 2023 to 2033
| Countries | CAGR from 2023 to 2033 |
|---|---|
| The United States | 6.70% |
| The United Kingdom | 6.80% |
| Germany | 7.50% |
| China | 14.10% |
| India | 12.40% |
The United States market for automotive emergency braking system is likely to rise at a 6.70% CAGR during the forecast period. Two main causes fuel the need for automotive emergency braking systems in the United States.
Manufacturers are required to incorporate advanced safety systems, such automated emergency braking, into the latest models as per the National Highway Traffic Safety Administration (NHTSA). Manufacturers are compelled by these regulations to incorporate these systems in order to improve road safety, which has led to a spike in their use.
The second important driver is rising consumer awareness of road safety. American customers are becoming more aware of safety issues due to media coverage, educational initiatives, and high-profile incidents. They are prioritizing vehicles with these systems to safeguard their families and themselves.
The automotive emergency braking system market in the United Kingdom is poised to expand at a 6.80% CAGR from 2023 to 2033. In the United Kingdom, insurance premium incentives provided by British insurance firms impact the market demand for automotive emergency braking systems.
This is done to persuade automobile buyers to choose vehicles with advanced safety features, like emergency braking systems. Reduced insurance costs are a strong inducement for buyers to select vehicles equipped with these technologies, encouraging their uptake. Cities in the United Kingdom, most notably London, frequently experience extreme traffic congestion.
The stop-and-go aspect of city driving increases the significance of emergency braking systems for commuters. In situations of high traffic, these systems may automatically engage the brakes, lowering the chance of collisions and improving general road safety.
The market for automotive emergency braking system in Germany is poised to develop at a 7.50% CAGR through 2033. A distinct combination of events drives the need for automotive emergency braking systems in Germany.
High-speed driving is encouraged by the national highway driving culture on the famous Autobahn network, which makes the use of the latest safety systems essential to preventing high-speed collisions. The use of emergency braking systems as a crucial part of vehicle safety is fueled by this emphasis on safety at high speeds.
An important factor is the robust automobile sector and engineering expertise in Germany. The well-known automakers in the country place a high value on quality as well as innovation, which encourages the creation and application of innovative safety technologies such as emergency braking systems that complement the superior engineering excellence of the country.
The China market for automotive emergency braking system is likely to expand at a 14.10% CAGR from 2023 to 2033. Modern safety measures like emergency braking systems are required in China due to the fast urbanization and growing traffic congestion in the region. Urban commuters find these systems highly desirable since they can immediately intervene in stop-and-go traffic to lessen the chance of collisions, which makes them priceless.
A major factor in the demand is the government policies and legislation pertaining to sophisticated driver assistance systems and road safety. In addition to emphasizing the value of safety, these programs encourage drivers to choose cars with emergency braking systems in order to improve traffic safety in general.
The India automotive emergency braking system market is poised to expand at a 12.40% CAGR during the forecast period. A variety of road conditions in India is a factor affecting the demand for vehicle emergency braking systems. India has a diverse spectrum of landscapes, each with unique difficulties, from hilly and rural areas to densely populated urban areas:
Emergency braking devices are in great demand in hilly regions such as the Himalayan region, where roads are often steep and twisting. These devices offer an extra degree of security, especially while descending steep slopes where there is a greater chance of accidents brought on by runaway vehicles. In order to securely handle the difficult terrain, Indian consumers residing in hilly regions give priority to these systems.
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The table below highlights how radar sensor technology is projected to take up a significant global market share. The passenger vehicle segment is likely to garner a significant market share in 2023.
| Category | Market Share in 2023 |
|---|---|
| Radar Sensor | 25.34% |
| Passenger Vehicle | 81.25% |
The radar sensors segment is expected to acquire a market share of 25.34% in 2023. Radar sensors are extremely suitable at detecting and tracking items in and around the vehicle, especially cars, people walking around, and other obstructions. The appropriate use of emergency braking systems depends on this capacity.
When other sensor technologies like cameras may fail, radar sensors may function well in a variety of weather conditions such as rain, fog, and low visibility. The emergency braking system can react quickly to prevent or lessen collisions considering its object detection reliability, which improves overall safety.
Long-range sensing is a feature of radar sensors that enables them to identify objects at a considerable distance from the vehicle. This function is crucial to anticipatory braking as it gives the system more time to determine the likelihood of a collision and apply the proper amount of braking force.
Based on the vehicle type, the group II segment is anticipated to take up a significant global market share. In 2023, the passenger vehicle segment is likely to acquire 81.25% of the global market share.
Safety is of utmost importance since passenger cars are used for family travel and daily commute. By identifying obstructions, pedestrians, and other cars, emergency braking systems can help avoid or lessen crashes and thereby lower the likelihood of accidents. This feature makes it a desirable option for personal usage since it appeals to consumers who are concerned about safety and may result in cheaper insurance premiums.
Emergency braking systems have become widely used due to stricter safety rules and market desire for sophisticated driver aid systems. Automakers have included these systems as standard or optional features in passenger cars as a result of realizing the necessity to comply with these regulations and satisfy consumer desires for safer automobiles.
Manufacturers make significant investments in research and development to produce innovative emergency braking systems. The technology is always being improved, increasing its dependability and efficiency.
Developing radar as well as camera-based systems, incorporating artificial intelligence for improved object recognition, and optimizing how quickly the system responds are a few examples of what this can entail. Emergency braking systems are becoming more and more integrated by manufacturers with other safety features including adaptive cruise control, collision avoidance systems, and lane-keeping assistance. This integration increases the overall safety of the vehicle and increases its consumer appeal.
To produce emergency braking systems for new cars, many manufacturers work with original equipment manufacturers (OEMs). These alliances assist producers in obtaining long-term agreements and a consistent flow of income. Some of the prominent developments by the key companies in this domain are provided below.
| Company | Key Developments |
|---|---|
| Jeep Meridian |
|
| Tesla, Inc. |
|
| ZF Friedrichshafen AG |
|
| Attribute | Details |
|---|---|
| Projected market value in 2023 | USD 31,616.27 million |
| Projected market value in 2033 | USD 68,257.16 million |
| Forecast CAGR from 2023 to 2033 | 8% |
| Forecast period | 2023 to 2033 |
| Historical period | 2018 to 2022 |
| Market analysis | Value in USD million |
| Key regions covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key countries profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries South Africa, Israel |
| Key market segments | Vehicle type, Key technology, Operating speed, Application, Level of Automation Driving, Component, Region |
| Key companies profiled | Changan Automobile Co. Ltd.; FAW Group Corporation; Geely Automobile Holdings Limited; Robert Bosch GmBh; Delphi Automotive LLP; Continental AG; ZF Friedrichshafen AG; Hyundai Mobis; Aisin Seiki Co. Ltd; Hitachi Automotive System Ltd; Mando Corporation |
The global automotive emergency braking system market is expected to reach USD 31,616.27 million by 2023.
The global automotive emergency braking system market is set to expand by a CAGR of 8% by 2033.
The global automotive emergency braking system market is forecast to reach USD 68,257.16 million by 2033.
The radar sensor segment is projected to attain a 25.34% share in 2023.
The passenger vehicle segment is likely to acquire an 81.25% share in 2023.
| Market Estimated Size (2023) | USD 6,211.0 million |
|---|---|
| Market Forecasted Size (2033) | USD 29,601.1 million |
| Market CAGR (2023 to 2033) | 16.9% |
| Market Estimated Size (2023) | USD 69,403.5 million |
|---|---|
| Market Forecasted Size (2033) | USD 109,862.1 million |
| Market CAGR (2023 to 2033) | 4.7% |
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Automotive Emergency Braking System Market
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