Overview of the global commercial vehicle hill assist system market
Research analysis on the global commercial vehicle hill assist system market identifies that the increased penetration of ABS and ESC systems in commercial vehicles will be one of the major factors that will have a positive impact on the market's growth. The high penetration of ABS and ESC systems in commercial vehicles is reducing the cost of manufacturing electronic sensors for commercial vehicles. Since hill assist systems receive inputs from the same sensors used by ABS and ESC systems, bundling the hill assist systems in commercial vehicles will controlling production costs to automotive OEMs. With the rising number of commercial vehicles equipped with ABS and ESC systems the demand for commercial vehicle hill assist systems will subsequently increase during the forecast period. Technavio's market research analysts predict that in terms of units, this market will grow at a CAGR of close to 8% by 2021.
The implementation of regenerative braking in hill assist systems in hybrid electric vehicles is one of the key trends that will drive the growth of this market in the forthcoming years. Heavy expenditure in R&D activities has been made to enhance the performance, offer better fuel efficiency, and develop system security of hybrid electric vehicles. Fuel efficiency was improved by using regenerative braking during the vehicle's movement on sloping terrains. This converts the kinetic energy of the vehicle into electrical energy which is used to recharge the batteries. Researchers have also come up with downhill assistance systems that calculates the regenerative braking torque, hydraulic braking torque, and engine braking torque based on inputs from inclinometer, vehicle speed sensors, and the position of the accelerator pedal.
Competitive landscape and key vendors
The commercial vehicle hill assist system market consists of few established players. The competitive environment among the players in this marketspace will intensify in the coming years with the introduction of stringent safety norms by the regulatory bodies across the globe and the rise in vehicle safety awareness among the people.
The leading vendors in the market are -
The other prominent vendors in the market are Murata Manufacturing Co. and Delphi.
Segmentation by application and analysis of the commercial vehicle hill assist system market
During 2016, the LCVs segment accounted for the major shares of the commercial vehicle hill assist system market. Factors such as the increasing use of LCVs for transporting goods and people in hilly terrains and other off-road conditions and the need for hill assist systems for increasing the efficiency of brakes, will contribute to the growth of this industry segment in the coming years.
Geographical segmentation and analysis of the commercial vehicle hill assist system market
This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the commercial vehicle hill assist system market throughout the forecast period. This is mainly due to the rising demand for safety systems in the commercial vehicle market and the stringent safety guidelines set by regulatory bodies. Additionally, the increasing penetration of ADAS in commercial vehicles will also drive the demand for hill assist systems in EMEA.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global commercial vehicle hill assist system market?
What are the key market trends impacting the growth of the global commercial vehicle hill assist system market?
What are the challenges to market growth?
Who are the key vendors in the global commercial vehicle hill assist system market?
What are the market opportunities and threats faced by the vendors in the global commercial vehicle hill assist system market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global commercial vehicle hill assist system market?
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