Automotive Emergency Braking System Industry to Reach USD 68.26 Billion by 2033

The automotive emergency braking system industry was valued at around USD 29.5 billion in 2022 and is projected to reach USD 31.6 billion by the end of 2023. With a forecasted compound annual growth rate (CAGR) of 8%, the market is expected to grow significantly, reaching USD 68.3 billion by 2033. This expansion is largely driven by the rising incidence of traffic accidents and the growing adoption of advanced braking technologies.

Innovations like radar and camera sensors are enhancing the effectiveness of emergency braking systems, allowing them to detect a wider range of potential hazards. These advancements are key drivers of market growth, especially as semi-autonomous and autonomous vehicles become more common, increasing the demand for sophisticated braking systems that can complement these advanced driving modes.

The global focus on road safety, spurred by the rising number of traffic accidents, highlights the critical role of emergency braking systems in reducing collisions and saving lives. Consumers are becoming more willing to pay a premium for vehicles equipped with advanced safety features, further fueling demand. In addition, government safety regulations and incentives are expected to boost the adoption of these systems.

Technological advancements and continuous innovation in emergency braking systems will positively impact the market outlook in the midterm. Alongside shifting consumer preferences for improved safety, greater purchasing power, and increased awareness of these systems’ benefits, the market is set to grow throughout the forecast period.

Key Takeaways:

High costs of AEBS and limited adoption of these systems in developing countries will likely have an adverse effect on the growth of the market.
A greater focus on road safety will push the market growth of advanced emergency braking systems in the US.
The advanced emergency braking systems market in the U.K will expand at a CAGR of 7.6% between 2023 and 2033.
By technology, the radar segment will generate high demand for the market during the forecast period and will account for 41.5% in 2023.

Competitive Landscape

Robert Bosch LLC, Continental AG, GKN plc, TRW Automotive Holdings Corp, Changan Automobile Co., Ltd, FAW Group Corporation, Tata Motors Limited, and Mahindra & Mahindra Limited, among others, are some of the primary players in the automotive emergency braking system market profiled in the full version of the report.

Significant market players are focusing on product upgradation, launching novel and innovative products, and developing a strong product portfolio. These businesses engage in strategic partnerships, collaborations, mergers, and acquisitions to strengthen their market position.

In-Depth Market Analysis: A Complete Report

Key Segmentations

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By Key Technology: