Commercial Vehicle & off-Highway Radar Market: Future Demand, Industry Analysis & Outlook

ReleaseWire

Northbrook, IL -- (SBWIRE) -- 11/02/2020 -- The Commercial Vehicle & Off-highway Radar Market is estimated to be USD 153 million in 2020 and is projected to reach USD 831 million by 2027, at a CAGR of 27.4% during the forecast period.

The demand for autonomous and safety features, real-time data monitoring, government mandates, and increasing accident cases will drive the overall market of radars for commercial & off-highway vehicles. The shift of the auto industry towards advanced technologies is expected to drive the growth of the commercial vehicle & off-highway radar market.

Top Players:

Robert Bosch (Germany)
Continental (Germany)
Aptiv (Ireland)
Denso Corporation (Japan)
Infineon Technologies (Germany)
NXP Semiconductors (Netherlands)
Analog Devices (US)
HELLA (Germany)
Valeo (France)
Texas Instruments (US)
ZF (Germany)
Magna International (Canada)

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Commercial Vehicle Radar Market and Key Technology:

77-81 GHz Radar – The 77–81 GHz radar operates in the 4 GHz bandwidth with a maximum frequency range of 81 GHz. This bandwidth is best suited for short-range radar applications. The application of 77 GHz radar includes ADAS applications such as Autonomous Emergency Braking (AEB) and Adaptive Cruise Control (ACC). Currently, 77 GHz radars are widely used in the automotive industry.

24 GHz Radar – 24 GHz band ranges from 24.0 GHz to 24.25 GHz and is called narrowband (NB). This has a bandwidth of 250 MHz. This is a relatively older technology than 77 GHz radar. The 24 GHz radar solution for commercial vehicles is aimed at ADAS features such as BSD and lane change assist.

Radar used in ADAS for commercial vehicles – Commercial vehicles include trucks, buses, vans, and pickup trucks, etc. Many ADAS features have now been quipped in these commercial vehicles which use radar as one of the sensors. Radar is more cost-effective than other technologies such as LiDAR, without compromising on major features.

Commercial vehicle, in-vehicle type segment is estimated to be the fastest-growing and the largest market during the forecast period

The increasing trend towards autonomous driving in the commercial vehicle has been fueling the growth of the commercial vehicle radar market. The key factor that drives the application of radar in the commercial vehicle is the increased safety awareness among the public and the government, as 4,136 people had lost their lives in the year 2018, in the US alone due to large truck crashes as per IIHS (Insurance Institute for Highway Safety). Such occurrences are the major driver for radars for commercial vehicles. Though the impact of CONVID-19 will affect the commercial vehicle segment for a while due to consumer preference of opting travel in personal vehicles and no public transport.

North America region is expected to have the largest share in the commercial vehicle & off-highway radar market from 2020 through 2027.

The growth of the North America region can be attributed to the most number of vehicles equipped with ADAS features. Early adoption of technologies in the region will be the key factor for the growth of the radar market for commercial vehicles. The presence of players like FCA, GM, Texas Instruments Incorporated, Visteon Corporation, and Velodyne Lidar, Inc has also contributed to the growth of the North American region in the radar market for commercial vehicles.

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Europe is expected to account for the second-largest market size during the forecast period.

The European region is expected to be the second-largest market during the forecast period. Europe has been at the forefront to improve the safety of commercial vehicles, for which the EU institutions have announced their plans to mandate vehicles with safety features by 2022. Many of the automotive OEMs in this region have equipped their vehicles with ADAS features as a standard. The trend of adoption of vehicles with advanced safety features in Europe is expected to continue during the forecast period which is also another key factor fuelling the growth of the commercial vehicle & off-highway radar market during the forecast period. However, due to the global wave of CONVID-19, Europe and other regions as well will have a direct impact on the auto industry. The impact has started with the recent shutdown and halt of companies like Ford, Nissan and Vauxhall to close plants due to falling sales and lack of parts. This will be causing economic slow down in Europe for time being.

For more information on this press release visit: http://www.sbwire.com/press-releases/commercial-vehicle-off-highway-radar-market-future-demand-industry-analysis-outlook-to-2027-1314351.htm