Automatic Emergency Braking Market for Crash imminent braking technologies will grow significantly over the projected timeframe. Growing adoption of crash avoidance technologies for detecting impending forward crash with other vehicles will enhance the market. The system alerts the drivers and takes corrective action to avoid and reduce crash severity. The system lowers wear and tear caused due to friction-based braking components and reduces energy consumption significantly, positively influencing the automatic emergency braking market till 2024.
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Disc brake accounted for over 65% volume share in 2017. This can be attributed to the increasing usage of these brakes in higher end and luxury vehicles over the forecast period. The benefits offered by the disc bakes including improved heat circulation and transfer due to friction and self-adjusting capabilities further strengthening the automatic emergency braking market share till 2024.
ICE showcased a significant growth rate of around 17% owing to multiple benefits offered by this system including superior stability and drivability. The engines offer high power to weight ratio and thermal efficiency. Vast expansion of fuel retail infrastructure is influencing conventional automobiles demand. Moreover, low cost of ownership will propel automatic emergency braking market growth over forecast period.
Asia Pacific automatic emergency braking market is expected to observe a considerable growth rate over the projected timeframe. This growth is attributed to the increasing passenger vehicle sales across the region. Automobile manufacturers are increasing production significantly to meet the consumer demand. Asian countries are supporting the fitment of AEB in vehicles by providing logistical, financial and operational support for testing of automated vehicles.
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Rising automotive manufacturing capacities in the U.S., China, and Japan are accelerating the automatic emergency braking market place over the forecast period. Increasing adoption of passenger cars with improved technology for better passenger safety is a major factor fueling the business growth till 2024.
Industry participants are involved in maximizing system performance output by increasing the overall production and manufacturing efficiency. Introduction of advanced manufacturing techniques including lean manufacturing and rapid prototyping are positively influencing the automatic emergency braking market growth. The incorporation of AEB systems in vehicles require appropriate optimization of hardware and software. Mass production of these components is expected to lower the system price significantly.
The continuous demonstrations of the active vehicle safety systems across the globe along with active support from automobile manufacturers are boosting the automatic emergency braking market over the forecast timeframe. The mandatory testing of new vehicles by the Global NCAP prior to its commercial launch will significantly increase the safety aspect of the vehicles and support the automatic emergency braking industry proliferation till 2024.
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Major players in the automatic emergency braking market place include Magna International Inc., Autoliv Inc., Bosch Group, Continental AG, Delphi Technologies, Mobileye, and ZF TRW Automotive Inc. Industry participants are emphasizing on development and manufacturing products with advanced technology.