Europe Adaptive Cruise Control (ACC) Market By Technology (Ultrasonic Sensors, Image Sensors, Radar Sensors, LIDAR Sensors), Product Sales (OEM, Aftermarket), End User (Consumer Cars, Commercial Vehicles)
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Market Report Description
Europe went through an economic decline in the year 2009. It upset several industries within Europe and the neighboring regions. It is currently in its recovery phase. The Automotive ACC System market is expected to attain a stable rate of growth in the period under study. At present, Europe is the main market for Automotive ACC systems.
It is also abode to several automotive ACC system suppliers namely, Continental AG (Germany) and Robert Bosch (Germany). Europe is the leading revenue generating region for overall ACC Market. Upcoming stringent safety regulations would impel the ACC systems market in Europe. Such regulation would call for car manufacturers to embrace some active safety measures on their vehicle to acquire 5-star rating from New Car Assessment Program (NCAP).
This is an independent safety scoring organization. In 2014 Europe NCAP doubled its active weighting to 20% in its scorecard. It is expected that by 2017, the safety scoring system would become all the more stringent. The active safety technology will be the default essential for a 4-star rating. An increasing number of road accidents, rising disposable income in developing economies and advancement in research and technology is driving the growth for these systems.
The Europe adaptive cruise control market is bifurcated based on technology, by geography, by type of end user, and by product sales. Ultrasonic, image, radar and LIDAR are the major types of technologies available for the adaptive cruise control industry. In 2015, laser technology dominated the Europe adaptive cruise control market with maximum share in terms of revenue.
LIDAR technology, on the other hand, would register the fastest growth during the forecast period (2016-2022). Furthermore, on the bases of product sales, the market is segmented into OEM and aftermarket. In 2015, OEM dominated the adaptive cruise control market and is further slated to dominate the market. On the basis of customer types, the Europe adaptive cruise control market is segmented into consumer and commercial vehicles.
In 2015, consumer vehicles are estimated to dominate the market in terms of revenue. This segment would register the fastest growth during the forecast period (2016-2022). Based on region, ACC market is segmented across countries including Germany, U.K., France, Russia, Spain, Italy and Rest of Europe.
Based on estimation, Germany has accounted for maximum revenue share in 2015. The report covers the analysis of key stake holders of the ACC market. Key companies profiled in the report include Autoliv Inc., Robert Bosch GmbH, Delphi Automotive Plc., Denso Corporation, Valeo S.A, Continental AG, Magna International Inc., Mando Corporation and Hyundai Mobis Co., Ltd.