Europe Automotive Radar Market is expected to reach US$ 2,940.5 million by 2027

PRESS RELEASE BY The Insight Partners 15 Mar 2021

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77 GHz Segment to Dominate Europe Automotive Radar Market during 2019–2027

According to The Insight Partners market research study on “Europe Automotive Radar Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Deployment and Application” is expected to reach US$ 2,940.5 million by 2027 from US$ 1,355.8 million in 2019. The market is estimated to grow at a CAGR of 14.0% from 2020 to 2027. The report provides trends prevailing in the Europe automotive radar market along with the drivers and restraints pertaining to the market growth. Passenger cars demand rising is the major factor driving the growth of the Europe automotive radar market. However, Test and validation of radar sensors related challenges of radar sensors hinders the growth of Europe automotive radar market.

The Europe automotive radar market is segmented by range, frequency, application, vehicle type, and country. Based on range, the Europe automotive radar market is segmented into long range radar, medium range radar, and short range radar. Short range radar segment is expected to lead the market throughout the forecast period.  Based on frequency, the Europe automotive radar market is segmented into 77 GHz, 77 GHz, and 79 GHz. 24 GHz is expected to dominate the market in 2019. Based on application, the Europe automotive radar market is segmented into adaptive cruise control, autonomous emergency braking, blind spot detection, forward collision warning system, intelligent park assist, and others. The adaptive cruise control segment is anticipated to dominate the market by 2027. Based on vehicle type, the Europe automotive radar market is segmented into passenger cars, light commercial vehicles, and medium & heavy commercial vehicles. The passenger cars segment is expected to hold over major the market share based on vehicle type from 2019 to 2027.

The European region witnessed a varying pandemic impact across its economically diverse countries following the COVID-19 virus outbreak. For instance, countries such as Germany, UK, Netherlands, France, and selected other developed countries imposed stringent government restrictions and closed their borders to curb the virus spread hence plummeting the demand as well as the availability of various automotive components, including radar systems. Whereas, selected other countries such as Italy, Russia, and Spain witnessed a significant surge in cases, which notably impacted the demand for passenger vehicle sales during the April and July period. However, numerous European countries did recover swiftly in recent months. They witnessed a reliable surge in demand for automotive sales and its associated components among the OEMs and aftermarket sales. Further, countries in the region, including Germany, UK, France, and Belgium, have witnessed a second wave of the virus and have announced lockdown for the second time in November 2020. The situation amid the COVID-19 pandemic is extraordinary, which is anticipated to hamper the growth of the market.

Aptiv Plc; Continental AG; Denso Corporation; HELLA KGaA Hueck & Co.; Nidec Corporation; Robert Bosch GmbH; Valeo; Veoneer Inc; ZF Friedrichshafen AG are among the leading companies in the Europe automotive radar market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Hella Gmbh & Co. KGAA opened an electronics plant in Lithuania. The plant in the Kaunas Free Economic Zone started production of various electronic components in August 2018. At present, sensors and actuators as well as lighting electronic components are manufactured at the site and more than 180 employees are employed.

The report segments the Europe Automotive radar Market follows:

 Europe Automotive Radar Market – By Range

  • Long Range Radar (LRR)
  • Medium Range Radar (MRR)
  • Short Range Radar (SRR)Cloud

Europe Automotive Radar Market – By Frequency

  • 24 GHz
  • 77 GHz
  • 79 GHz

Europe Automotive Radar Market – By Application

  • Adaptive Cruise Control
  • Autonomous Emergency Braking
  • Blind Spot Detection
  • Forward Collision Warning System
  • Intelligent Park Assist
  • Others

Europe Automotive Radar Market – By Vehicle Type

  • Adaptive Cruise Control
  • Passenger Cars
  • Light Commercial Vehicle
  • Medium & Heavy Commercial Vehicles

Europe Automotive Radar Market – By Country

  • Germany
  • France
  • Italy
  • UK
  • Russia
  • Rest of Europe
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