Global Brake Override System Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Brake Override System refers to an intelligent system which overrides the throttle press and even if the accelerator pedal is fully pressed and driver hit the brakes hard, it brings the engine revs down by releasing the throttle intelligently even if the gas pedal is fully pressed. This ensures passenger safety incase if throttle pedal is stuck. Brake Override system uses input from sensors to how hard the brake pedals have been pressed. The rising expansion of automobile sector and stringent regulations & compliances from government authorities are key factors accelerating the market growth.
According to Statista - as per International Energy Agency Estimates (IEA)- during 2021, sales of electric vehicles (EVs) during 2021 estimated at 6.6 million units, witnessing an increase of more than 3 million units in 2020. Also, rising advancements in automotive sector and growing emergence of self-driving cars would create lucrative growth prospectus for the market over the forecast period. However, the volatile cost of raw materials as well as lack of penetration in developing regions impede market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Brake Override System Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to presence of leading market players as well as increasing adoption of brake override system from leading market players in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising automotive sector and rising advancements in automobiles in the region.
Major market players included in this report are:
Honda Motors Co. Inc
Toyota Motor Corporation
Nissan Motors
Renault
Suzuki Motor Corporation
Mitsubishi Motors Corporation
BMW AG
Robert Bosch GmbH
Hyundai Motor
AB Volvo
Recent Developments in the Market:
In May 2019, The National Highway Traffic Safety Administration, a part of U.S. federal government announced installation of Brake Override System voluntary as all automakers are already employing it in almost every new model.
In November 2021, Japan based Toyota Motors announced to install Brake Override System in its all-new upcoming cars.
Global Brake Override System Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Sensor Technology, Vehicle Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Sensor Technology
Radar
LiDAR
Camera
Infrared
Ultrasonic
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
