The Europe Automotive RADAR Market was worth US$ 6 billion in 2021 and is anticipated to reach a valuation of US$ 10.9 billion by 2027 and is predicted to register a CAGR of 18.7% during 2022-2027.
Automotive radars are commonly used to find objects such as vehicles and pedestrians in the movement area. Car radars send radio waves that hit an object to the receiver, and the transmitter consists of a wire that controls the movement or direction of the car. The market for automotive radars is expected to grow during the forecast period as interest in driving safety issues increases. Car manufacturers will also shift their focus from manual cars to autonomous cars, supporting the car radar market.
Market Growth
The growing interest in active safety features, innovations in radar technology, reduced parts prices, and increased vehicle sales are driving the market growth.
Market Drivers
The main factors accelerating the growth of the Europe Automotive Radar Market are the increase in traffic accidents and the need for safer mobility. Together with the increasing number of vehicles and the growing trend of autonomous cars, electrification is likely to accelerate the growth of the car radar market. Radars play an essential role in the detection of objects in a variety of security systems, including adaptive cruise control, pedestrian detection systems, blind-spot detection, and automatic emergency braking. Strict government regulations on safety objectives and initiatives in the field of radar systems have facilitated the development of vehicle safety systems and, therefore, are expected to boost the use of radar-based systems. Along with this, the decrease in the price of electronic systems and the development of automotive technology will support the use of car radar in the future.
Market Restraints
One of the main obstacles to the growth of automobile radar is the lack of uniform frequency assignments throughout the world. Also, the high costs can impede the rapid expansion of this business.
Market Recent Developments:
REPORT METRIC |
DETAILS |
Market Size Available |
2021 – 2027 |
Base Year |
2021 |
Forecast Period |
2022 - 2027 |
CAGR |
18.7% |
Segments Covered |
By Range, Application, Vehicle Type, and Region. |
Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Continental AG (Germany), HELLA KGaA (Germany), Robert Bosch GmbH (Germany), Delphi Automotive PLC (United Kingdom), NXP Semiconductors NV (Netherlands), Valeo SA (France), Autoliv Inc. (Sweden), Infineon Technologies AG (Germany), Denso Corporation and Texas Instruments, Inc, and Others. |
Market Segmentation
Comparatively, medium and short-range radars are likely to witness rapid growth in the market in the coming years due to the increasing application base.
Among these, the blind-spot detection segment accounts for the leading share and is predicted to expand with the highest CAGR in the future. The rising demand for advanced driver assistance systems in Europe will create vast growth potential for the blind-spot detection sector.
Of these, passenger cars are likely to register the highest demand with the rising consumer disposable income and the need for safe driving conditions.
Market Regional Analysis:
Due to the strict vehicle safety standards set by the European Commission (EC), Europe dominates the world automobile market. In addition, German car manufacturers have high participation in the manufacture of premium cars worldwide. At the same time, German car manufacturers spend approximately one-third of their R&D development, so it is expected to grow during the forecast period.
Europe was the largest region in the car radar market in 2018, mainly due to the high demand for vehicles equipped with advanced safety features and government safety standards in European countries. Also, the European Commission, the governing body of the European automotive industry, is working to improve the safety of drivers and passengers in their vehicles. This region includes significant countries such as Germany, France, the United Kingdom, Spain, Russia, Italy, and others.
Market Key Players:
REPORT DESCRIPTION:
Research Methodology
Secondary Research The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook, etc. It also helps in deciding the scope and deliverables of the study in terms of the requirements of the market. Primary research involves e-mail interactions, telephonic interviews as well and face-to-face interviews for each market, category, segment, and sub-segment across geographies.
Market Report Highlights:
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