Automated Truck Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027

According to Vision Research Reports, the global automated truck market value is projected to reach around US$ 2 Bn by 2027, expanding at a CAGR of 55% during the forecast period 2020 to 2027.

Introduction

• According to the report, the global automotive seat belt retractor market is expected to be determined by a range of factors having influence of industry-specific and economic aspects. The Asia Pacific automotive seat belt retractor market is expected to be at the forefront of global demand, with the ma automotive seat belt retractor market in the region expanding at a CAGR of ~ 3% between 2019 and 2027.

• Extra webbing in seat belts is gathered and stored by the automotive seat belt retractor. Most three point seat belts have a single automotive seat belt retractor that clamps the webbing for both, the lap and shoulder. There are numerous types of automotive seat belt retractors such as emergency locking retractors, automatic locking retractors, and switchable retractors, which are typically equipped in the grouping of other components of the seat belt system.

• In most cases, emergency locking retractors are employed. As the name suggests, an emergency locking retractor locks only during a sudden stop, acceleration, turn, or crash of the vehicle.

• An automatic locking retractor (ALR) makes it possible to secure a child seat without using a seat belt locking clip. It locks the seat belt at a particular length. The automatic locking retractor helps the additional seat belt webbing to draw into the seat belt system into the retractor till the webbing is fitted around the driver’s or passenger’s hips. During that point, a bar engages a spool with the gears, and avoids further release of additional webbing.

Expansion of the Automotive Seat Belt Retractor Market

• Accidents on the roads are presently among the major reasons of deaths of young adults and children, which indicates the necessity for a change in present road safety norms. Motor vehicle accidents is currently the eighth-leading cause of deaths, worldwide.
• Reports state that, 1.35 million deaths occurred per year, which accounts for 3,700 deaths per day across the globe.
• The number of drivers and passengers who succumb to deaths in road crashes who do not use seat belts is high; which during a frontal collision avoids a major fatality. As a result, regulations on the integration of seat belt systems in vehicles are likely to boost the automotive seat belt retractor market during the forecast period.

In terms of technology, the global automotive seat belt retractor market has been divided into emergency locking retractors, automatic locking retractors, and switchable retractors. The emergency locking retractors segment is likely to hold a prominent share of the automotive seat belt retractor market, as most manufacturers prefer installing a pretensioner and load limiter along with the emergency locking retractor unit, as a combination of the emergency locking retractor, pretensioner, and load limiter possesses a higher retraction force to hold the occupant firmly on the seat.

Automatic locking retractors is another preferred combination for installing seat belt retractors after emergency locking retractors. In some vehicles, the automatic locking retractor, pretensioner, and load limiter are used to retract the seat belt in case of sudden deceleration of the vehicle.

Based on seat, the automotive seat belt retractor market has been divided into rear and front seats. The front seats segment is anticipated to garner significant share of the market, even though the volume is less, as retractors are integrated in the front seats and cost more. Advanced technology seat belts and their introduction in vehicles are likely to propel the automotive seat belt retractor market during the forecast period. The number of seats at the rear of a vehicle is more than that in the front; hence, the rear seats segment accounted for a higher share of the automotive seat belt retractor market in 2018.

In terms of vehicle, the automotive seat belt retractor market has been divided into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Increasing demand for light commercial vehicles due to increasing capital investments in small and medium enterprises is anticipated to boost the light commercial vehicles segment, which in turn is likely to boost the seat belt retractor market during the forecast period.

Regional Analysis of the Automotive Seat Belt Retractor Market:

• In terms of region, the global automotive seat belt retractor market has been segregated into Asia Pacific, North America, the Middle East & Africa, Europe, and Latin America. Asia Pacific dominates the global market for automotive seat belt retractors.
• The seat belt retractor market in Asia Pacific is expanding due to the rising production of vehicles in the region. Furthermore, higher foreign investment in the region supplemented with a rise in the number of manufacturing sites in China, India, Japan, Indonesia, and South Korea are likely to augment the automotive seat belt retractor market in Asia Pacific during the forecast period.

Competitive Landscape

Key market players operating in the global automated truck market include

• AB Volvo
• Aptiv
• EMBARK
• Continental AG
• Daimler AG
• Intel Corporation
• NVIDIA
• Qualcomm Technologies, Inc.
• Robert Bosch GmbH
• Waymo LLC
• Valeo
• WABCO
• ZF Friedrichshafen AG
• Autonomous Solutions Inc. 
• EMBARK
• Waymo LLC
• Volvo AB

Segmentation

• Global Automated Truck Market by Truck Type
  • Cab-integrated
  • Cabless
• Global Automated Truck Market by Class
  • Class 8 & Class 9
  • Ultra Class Trucks
• Global Automated Truck Market by End-use Industry
  • Mining
  • Logistics
• Global Automated Truck Market by Sensor
  • RADAR
  • LiDAR
  • Camera
  • Others
• Global Automated Truck Market by Autonomy Level
  • Level 3
  • Level 4
  • Level 5
• Global Automated Truck Market by Region
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Key Questions Answered

The business asset analyzes the automated truck market in terms of volume (units) and value (US$ Mn). Authors of the report aim at elaborating on the current trends and future scope of the automated truck market, along with the portfolio and key strategies of market players, which will help readers devise sustainable growth strategies and make well-informed decisions in the automated truck market. Some of the key questions answered in the report are:

• What are the key drivers and restraints observed in the automated truck market?
• What are the significant opportunities for the manufacturers of automated trucks?
• What are the winning strategies followed by manufacturers of automated trucks?
• What is the present and future value potential of the automated truck market?
• What are the major trends observed in Asia Pacific that contribute to the growth of the automated truck market?
• Which truck type will remain lucrative for market growth?

Automated Truck Market – Research Methodology

Vision Research Reports analysts follow a systematic research methodology to obtain crucial information regarding the growth of the automated truck market. The VRR study validates information collected through various sources. In order to gather information regarding the automation truck market, primary research was conducted. For primary research, interviews with vice presidents, marketing managers, business unit heads, chief operation officer, and salespersons were conducted.

In order to carry out secondary research, various sources such as company websites, annual reports, white paper, financial reports, broker reports, investor presentations, press releases, and government documents were studied. Post the primary and secondary research, insights obtained were then validated through the data triangulation method. This aids in sourcing credible information that includes competitor analysis, opportunities, risks, microeconomic factors, macroeconomic factors, and demographic analysis.