Global Automotive Speed Limiter Market: Introduction
Automotive speed limiter, one of the vital cruise control systems, is a personal assistant for speed management, predominantly utilized in passenger vehicles. In automotive speed limiter your personal assistant for speed at installation, i.e. by OEM.
In addition to that, drivers can use an (optional) command module to set variable, voluntary limits in automotive speed limiter. Once the set limit is reached, the car will no longer accelerate due to command module set in automotive speed limiter. A strong push in automotive speed limiter however, will allow the car to exceed the set speed or threshold (safety) speed.
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Moreover, with an installation of automotive speed limiter set at moderate speed can achieve a significant reduction in fuel consumption, a noteworthy figure that would dramatically reduce running costs over a typical 4 to 5 years, as well as reducing emissions and extending engine life.
Automotive speed limiters offer a range of substantial advantages, including reduction in driver fatigue coupled with enhanced driver comfort, automotive speed limiters avoid unintended speeding, and lowers carbon footprint. Subsequently, the aim of the study is to analyze the most recent trends and dynamics in the global automotive speed limiter market.
Global Automotive Speed Limiter Market: Dynamics
Automotive Speed Limiter ensures the safety of the vehicle and its occupants. With the rising traffic and incidents related to accident and trauma has also necessitated the speed limiters. Additionally, Rising fuel costs are becoming an ever greater issue, and automotive speed limiters give vehicle operators another tool in their arsenal to restrict a driver’s speed, particularly when motorway driving.
A positive outlook for increasing fleet of passenger cars across the world bolsters the growth trajectory of global automotive speed limiters market.
Apart from this, quick and easy installation of automotive speed limiters also reinforce the budding use of the component and support the growth of automotive speed limiters market. In economic terms, rapid urbanization and rising disposable income will affirm the growth of automotive speed limiters market.
Popularity of conventional vehicles with less equipped technology impound the automotive speed limiter market in Asian countries. Moreover, high acceptance and imposition of fines against speed violations are foreseen to steer the global automotive speed limiters market.
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Intelligent automotive speed limiter combines the functionality of key technologies, including adjustable speed limiter and traffic sign recognition. Subsequently, in a nutshell, economic factors and regional demographics play a pivotal role in the global automotive speed limiters market.
Global Automotive Speed Limiter Market: Segments
The global automotive speed limiter market can be segmented on the basis of product type, sales channel, and region
On the basis of product type, the global automotive speed limiter market can be segmented as:
- Heavy Commercial Vehicles
- Trucks and Trailers
- Buses & Coaches
- Light Commercial Vehicles
- Passenger Vehicles
- Mining Trucks and Others
On the basis of sales channel, the global automotive speed limiter market can be segmented as:
- OEM Automotive Speed Limiter
- Aftermarket Automotive Speed Limiter
Global Automotive Speed Limiter Market: Regional Outlook
With the prevalence of speed cameras in the countries of Western Europe, the technology – automotive speed limiter finds itself a good match. Intelligent automotive speed limiters will augment the safety inclusions in the vehicle.
Besides mandatory attachment of automotive speeded limiters in new cars across North America and Western Europe set to promulgate the growth of automotive speed limiters market.
Further, the government of India has been striving to mandate the use of automotive speed limiters in a bid to curb speeding and reduce related accidents. Singapore and other ASEAN countries will witness a surge in the utilization of automotive speed limiter over the coming years.
With a substantial disposable income of the people in some countries of the Middle East, growing fleet of luxury vehicles will encourage the demand for automotive speed limiters. Moreover, Latin America is expected to enhance the use of automotive speed limiters in the near future.
Global Automotive Speed Limiter Market: Key Participants
List of some of the prominent market participants in the global automotive speed limiter market discerned across the value chain include:
- MKP Parts B.V.
- Vodafone Automotive SpA
- AVS LTD.
- Remote Control Technologies Pty Ltd (RCT)
- Continental AG
- Highway Digital (Nigeria) Limited
- SABO Electronic Technology Co., Ltd
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