The report predicts the global Europe Automotive Radar Market to grow at a healthy CAGR over the forecast period from 2022-2031.
Market Overview:
Europe is recognized as the birthplace of motor cars. Car production in the European region is not a new concept, with the automotive industry being one of the oldest sources of exports and employment. The strong foothold in the market is mainly attributed to the presence of a considerable number of automotive OEM’s in the region, which is escalating the overall demand for automotive-related technologies, including automotive radar systems in the European countries. The region has witnessed high demands for a premium car compared to other segment vehicles, which is increasing the demand and adoption of ADAS and radar systems in the region.
Moreover, mandate legislation imposed by the European Commission and rating awarded by Euro New Car Assessment Programme (NCAP) is further considered to be influencing the growth of the market. In addition, especially for radar, European Commission has mandated a “permanent” band at 79 GHz and is required to be made available in all EU member states, which is regarded as the foundation for the future development of the automotive radar market. However, factors such as high vehicle manufacturing cost and ban on use of radar detectors in some of the European countries are hampering the market.
Insights Presented in the Report:
The Europe automotive radar market is segmented based on the range of the radar, which includes short and medium-range radar (S&MRR) and long-range radar (LRR). In 2017, S&MRR segment dominated over LRR however LRR is anticipated to be the fastest growing market with a CAGR of 20.0% during the forecast period (2022-2031).
Based on different application areas, the market is categorized as Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Intelligent Parking System (IPS), Blind Spot Detection (BSD), Collision Mitigation System (CMS) and others. Among these application areas, adaptive cruise control is expected to be the largest market during the forecast period. On the other hand, the autonomous emergency braking application is anticipated to be the fastest growing application during the forecast period.
The study further includes the segmentation across different frequency bands that including 24 GHz and 77 GHz. Due to the high demand for 24 GHz radars for blind spot detection and collision avoidance systems in Europe, this segment held the highest market share in 2017. However, by 2021, the market value of 77 GHz radars are anticipated to exceed the market of 24 GHz radar and remain in the same position by the end of the forecast period.
Europe’s automotive radar market is also fragmented across different vehicle types, which include passenger cars, luxury cars and commercial vehicles. Under this segment, passenger vehicles held the highest market value and the same is anticipated to follow during the forecast period as well. Adding to this, the increase in demand of radar systems in the luxury vehicles segment is expected to propel luxury vehicles segment making it the fastest growing market during the forecast period. The luxury vehicles segment is anticipated to grow at a CAGR of 19.8% during the forecast period.
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A country-level segmentation for Europe automotive radar market is also incorporated in the study. The segment includes the major countries such as Germany, France, the U.K, Spain, Russia, Italy, and the Rest of Europe. Germany dominated the market in 2017 and was valued at $105.75 million, followed by the U.K and France. The presence of major automotive OEMS, component manufacturers, and a favorable regulatory environment are some of the major factors attributed to the Germany’s dominance in the European automotive radar market.
Top Companies Profiled:
Some of the major players profiled in the report include Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive Plc, Infineon Technologies AG, NXP Semiconductors NV, Valeo SA, Analog Devices Inc., Hella KGaA Hueck and Co, and Texas Instruments Inc.
Reasons to Buy the Report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers in depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies and recent developments
- Detailed examination on drivers, restraints, key trends, and opportunities prevailing in the industry.
- Examination of industry attractiveness with the help of Porter’s Five Forces analysis
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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Customization Options:
The European Automotive Radar Market can be customized to the country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.
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