Automotive Speed Limiter Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026


#7103

Transparency Market Research

$ 5795

Introduction:

In certain regions, such as North America, regulatory bodies are likely to make speed limiters mandatory for heavy duty commercial vehicles. Moreover, the speed limiter protects the engine, which in turn indirectly increases the lifespan of the vehicle. Demand for safety features in vehicles is likely to boost the automotive speed limiter market during the forecast period. Rise in safety concerns in heavy duty vehicles is likely to drive the automotive speed limiter market during the forecast period.

The global automotive speed limiter market can be segmented based on type, vehicle type, sales channel, and region. In terms of type, the market can be segregated into electronic speed limiter, variable speed limiter, adaptive speed limiter, and other. The electronic speed limiter is a newly developed device that controls the fuel injection system in order to regulate the maximum driving speed limit. In variable speed limiter, the vehicle’s exact position is detected through the GPS system and the speed limit is regulated automatically from the programed data base.

Based on vehicle type, the automotive speed limiter market can be divided into passenger vehicle, commercial vehicle, and electric vehicle. Governments are likely to make speed limiters mandatory for commercial vehicles in the near future, which in turn is anticipated to propel the automotive speed limiter market during the forecast period. Rapid industrialization, expansion of the construction industry and the demand for electric heavy commercial vehicles are anticipated to drive the automotive speed limiter market during the forecast period. The passenger vehicle segment can be further sub-segmented into hatchback, sedan, and utility vehicle. Rise in demand for SUVs and high engine power vehicles is likely to boost the automotive speed limiter market during the forecast period.

In terms of sales channel, the automotive speed limiter market can be categorized into aftermarket and OEM. Government mandate, demand from consumers, and reduction in road traffic accidents have prompted OEMs to provide the speed limiter in their vehicles. Consequently, the OEM segment is likely to expand at a significant pace, which in turn is anticipated to drive the automotive speed limiter market during the forecast period.

In terms of region, the automotive speed limiter market can be classified into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Developed regions, such as North America and Europe, are focusing on road safety and hence, regulatory bodies in these regions are expected to make speed limiters mandatory for heavy duty vehicle and other class of vehicles. Therefore, North America and Europe are likely to dominate the global automotive speed limiter market. The market in Asia Pacific likely to expand at a rapid pace during the forecast period owing to the aggressive government initiatives for road safety in the region.

Key players operating in the automotive speed limiter market include Continental AG, GRL Engineers, Pinnacle Systems Ltd., Rosmerta Technologies Limited, MicroAutotech, and Pricol Limited.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

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