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Automotive Cruise Control Market by Component (Vehicle Speed Sensor, Steering Wheel Control, Clutch Pedal Switch, Brake Pedal Switch, Throttle Position Sensors, Vacuum Valve Control, Ecu, Vacuum Actuator), Vehicle Type (Passenger vehicle, Commercial Vehicle) Region - Global Forecast to 2027

Format: PDF | Pages: 366 | Report ID: MRS1006


Report Description

The global Automotive Cruise Control market size is estimated at USD 16.01 billion in 2020, expanding at a CAGR of 20.8% from 2021-2027 to reach 65.9 billion USD in 2027.

Market Dynamics

Cruise control is a system that automatically controls the speed of the vehicle. The growing number of road accidents coupled with stringent safety regulations is anticipated to drive the growth of the automotive cruise control market during the forecast period. For instance, According to the recent report of WHO (World Health Organization), it is estimated that approximately 1.35 million people die each year as a result of road traffic crashes. Moreover, increasing demand for a fuel-efficient vehicle, rising preference for driver comfort especially for long journeys, and better vehicle control will fuel the growth of the market.

In addition, the growing preference of consumers towards safety and adoption of new technology will boost the growth of the market to the great extent. For instance, In the countries such as Europe and North America, the adoption of new technology creates a lucrative opportunity for the market due to the stringent safety norms imposed by the government. Moreover, the prominent players are partnering with the technology and the electronic industry to produce innovative products. This factor is another factor to propel the growth of the market over the forecast period.

In terms of vehicle type, passenger vehicles accounted for the significant revenue share. The segment growth is attributable to the availability of passenger cars at a convenient cost in the market and competition among the key players are the main factors to propel the growth of the market to a significant level. This is in turn to boost the demand for the automotive cruise control market.

Regionally, North America and Europe dominated the automotive cruise control market. Regional growth is attributed to the growing presence of key players coupled with rising investment by stakeholders in the region. The key players continuously invested in research and development to produce innovative products. Moreover, the stringent rules and regulations imposed by the government are one of the most important factors to boost the growth of the market in these regions.

On the other hand, the Asia Pacific region is expected to grow at a substantial rate during the forecast period. This is attributable to the high investment from the global players. Moreover, the favorable government initiatives will create an attractive opportunity for the cruise control market in this region.

The merger & acquisitions and product launches play an important role in the company's expansion and remain competitive in the market. Some of the prominent players are Robert Bosch GmbH, Continental AG, Denso Corporation, Aptiv, ZF Friedrichshafen AG, and WABCO. Recently, In January 2020, Bosch launched its long-range LiDAR for vehicles at the consumer electronic show. This sensor is suitable to use both in the city centers and on motorways as this technology includes both long and short-range radars.

The report begins with an overview of the Industry Chain structure and describes the industry environment, and then analysis market size and forecast of the Automotive Cruise Control Market by component, vehicle type, and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Robert Bosch GmbH
  • Continental AG
  • Denso Corporation
  • Aptiv
  • ZF Friedrichshafen AG
  • WABCO
  • Hitachi Automotive Systems, Ltd.
  • Mando Corp
  • AUTOLIV INC.
  • DELPHI AUTOMOTIVE PLC
  • FORD MOTOR COMPANY
  • HYUNDAI MOBIS

Component Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Vehicle Speed Sensor
  • Steering Wheel Control
  • Clutch Pedal Switch
  • Brake Pedal Switch
  • Throttle Position Sensors
  • Vacuum Valve Control
  • Ecu
  • Vacuum Actuator

Vehicle Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Passenger vehicle
  • Commercial Vehicle

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global Automotive Cruise Control market size is estimated at USD 16.01 billion in 2020, expanding at a CAGR 20.8% from 2021-2027 to reach 65.9 billion USD in 2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global industry is growing at a promising growth rate over the study period.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
Some of the prominent players are Robert Bosch GmbH, Continental AG, Denso Corporation, Aptiv, ZF Friedrichshafen AG, and WABCO. Recently, In January 2020, Bosch launched its long-range LiDAR for vehicles at the consumer electronic show. This sensor is suitable to use both in the city centers and on motorways as this technology includes both long and short-range radars.

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