Automotive Active Bonnet Market to Grow by 3.7 Million Units, at 10% CAGR During 2019-2023 | Technavio
LONDON--(BUSINESS WIRE)--Jun 3, 2019--
According to Technavio Research Report , “Global Automotive Active Bonnet Market by application (sedan, SUV and crossover, and Hatchback) and geographic regions (APAC, Europe, MEA, North America, and South America) is expected to grow by 3.7 million, at a CAGR of more than 10% from 2019-2023.”
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Technavio has published a new market research report on the global automotive active bonnet market from 2019-2023. (Graphic: Business Wire)
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Global automotive active bonnet market: Growing adoption of ADAS
The automotive active bonnet system helps in reducing the impact on pedestrians in the event of a collision. However, it is only effective within a certain speed limit, above which the sensors cannot detect pedestrians. As a result, the vehicle needs to slow down before the collision to effectively deploy the active bonnet. This increases the need for an active safety system that can alert driver or act autonomously to avoid the collision. This is increasing the adoption of ADAS that warns the driver to slow down the vehicle, or automatically applies brakes to avoid or mitigate a crash. Thus, the presence of ADAS increases the value of automotive active bonnet.
“Apart from the growing adoption of ADAS to enhance efficiency of automotive active bonnet, other factors such as growing demand for luxury cars, and the integration of safety features with automotive active bonnet will have a significant impact the growth of the automotive active bonnet market size during the forecast period,” says a senior analyst at Technavio.
Global automotive active bonnet market: Segmentation analysis
This market research report segments the global automotive active bonnet market by application (sedan, SUV and crossover, and Hatchback) and geographic regions (APAC, Europe, MEA, North America, and South America).
The European region led the market in 2018, followed by APAC, North America, MEA, and South America respectively. The automotive active bonnet market growth can be attributed to several factors such as the high proportion of pedestrian fatalities in road accidents, increasing sale of vehicles, growing adoption active bonnets by luxury cars as a standard feature, and the presence of established brands in the region.
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Global automotive active bonnet market: implementation of automotive safety ratings
A key factor driving the growth of the global automotive active bonnet market size is the implementation of automotive safety ratings. The rising necessity for the inclusion of safety systems in vehicles is increasing the penetration of passive safety systems from luxury vehicles to entry-level vehicles. The increasing number of vehicles with a high number of safety systems has compelled car safety programs such as NCAP to make its rating criteria more stringent. This is compelling vehicle manufacturers to adopt the active bonnet, which will drive the automotive active bonnet market growth during the forecast period.
Few Major Players for the global automotive active bonnet market are:
- BMW AG
- Daimler AG
- Jaguar Land Rover Ltd.
- Volkswagen AG
- Volvo Car Corp.
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SOURCE: Technavio Research
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PUB: 06/03/2019 10:38 AM/DISC: 06/03/2019 10:38 AM