Commercial Vehicle & Off-Highway Radar Market By Frequency (24-Ghz and 77-81 Ghz), By Component (LRR, S&MRR, Mono Camera, and Stereo Camera), By Application (Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Blind Spot Detection (BSD), Forward Collision Warning System (FCWS), Intelligent Parking Assistance (IPA), and Others), and By Region- Trends, Analysis and Forecast till 2030

Commercial Vehicle & Off-Highway Radar Market is estimated to be USD 1513.52 Billion by 2030 with a CAGR of 26.0% during the forecast period.

Radar system utilizes radio waves to determine the velocity, range, or angle of objects. Commercial vehicle & off-highway radar system determines the safety of driver, passengers as well as pedestrian. It is applicable for road monitoring, to detect objects, parking assistance and works as collision mitigation and warning system. Commercial vehicle & off-highway radar enhance accuracy to measure accurate distance between vehicles to avoid collision. The functions and features of commercial vehicle & off-highway radar system help to increase driving efficiency and ensure driver and occupant safety.

Rising trend towards autonomous driving

Growing trend towards autonomous driving in the commercial vehicle has been propelling the growth of the commercial vehicle & off-highway radar market. The key factor that boosts the application of radar in the commercial vehicle is the growth in safety awareness among the public and the government. As per IIHS (Insurance Institute for Highway Safety) in 2018, 4,136 people had lost their lives in the U.S. owing to large truck crashes. Such incidences are the major driver for radars for commercial vehicles. Though the influence of CONVID-19 the commercial vehicle segment will get affected for a while, owing to consumer preference of opting travel in personal vehicles and no public transport.

New product launches

New product launches are the key strategy undertaken by the prominent players in the commercial vehicle & off-highway radar market. Continental AG is a major player in the commercial vehicle & off-highway radar market. Enhanced cybersecurity, blockage detection, auto alignment is the key driving factor for Continental AG in the commercial vehicle & off-highway radar market. Additionally, higher range of 300m compared to other key players is the other key factor that adds growth in the commercial vehicle and off-highway radar market.  In 2019, Continental introduced the launch of the 5th generation automotive radar. This new generation automotive radar is based on a scalable modular principle and has higher capacity.

However, limited sensing range, vulnerability, oversensitivity and external interference are some factors limiting growth of the target market to a certain extent presently.

Commercial vehicle & off-highway radar market is segmented based on frequency, component, application, and region.

On the basis of frequency, the commercial vehicle & off-highway radar market is segmented into 24-Ghz and 77-81 Ghz. Based on component, the target market is segmented into LRR, S&MRR, mono camera, and stereo camera. Based on application, the target market is segmented into adaptive cruise control (ACC), autonomous emergency braking (AEB), blind spot detection (BSD), forward collision warning system (FCWS), intelligent parking assistance (IPA), and others.

Regional Insights:

On region the commercial vehicle & off-highway radar market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region is expected to account for dominate market share owing to numerous vehicles equipped with ADAS features. Early adoption of technologies will be the key factor for the growth of the radar market for commercial vehicles in the region. The presence of key players like GM, FCA, Visteon Corporation, Velodyne Lidar, Inc., and Texas Instruments Incorporated has also attributed to the growth of the North American region in the radar market for commercial vehicles.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global Commercial Vehicle & Off-Highway Radar market report based on frequency, component, application, and region.

Commercial Vehicle & Off-Highway Radar Market, By Frequency:

• 24-Ghz
• 77-81 Ghz

Commercial Vehicle & Off-Highway Radar Market, By Component:

• LRR
• S&MRR
• Mono Camera
• Stereo Camera

Commercial Vehicle & Off-Highway Radar Market, By Application:

• Energy & Power
• Chemicals
• Metallurgical
• Electronics

Commercial Vehicle & Off-Highway Radar Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the commercial vehicle & off-highway radar market includes Robert Bosch GmbH, Continental AG, HELLA KGaA, NXP Semiconductors N.V., Denso Corporation, Delphi Automotive, Autoliv Inc., Valeo S.A., Technologies AG, and Baumer. New product launches are the key strategy undertaken by the prominent players in the commercial vehicle & off-highway radar market. For instance, in September 2019, a joint venture between Aptiv and Hyundai Motor Co, to launched autonomous vehicles for the commercialization of Level 4 and 5 self-driving technologies. This launch will boost the expansion of Aptiv capabilities in autonomous vehicles market in South Korea.

• Robert Bosch GmbH
• Continental AG
• HELLA KGaA
• NXP Semiconductors N.V.
• Denso Corporation
• Delphi Automotive
• Autoliv Inc.
• Valeo S.A.
• Technologies AG
• Baumer