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(I-AutoNewsWire.com, October 13, 2020 ) The Commercial Vehicle & Off-highway Radar Market is estimated to be $153 million in 2020 and is projected to reach $831 million by 2027, at a CAGR of 27.4% during the forecast period.
High demand for vehicles with ADAS features to increase safety on the road, reduce collisions, and decrease fuel consumption has pushed for the adoption of commercial vehicle and off-highway radars.
-Robert Bosch (Germany)
-Denso Corporation (Japan)
-Infineon Technologies (Germany)
-NXP Semiconductors (Netherlands)
-Analog Devices (US)
-Texas Instruments (US)
-Magna International (Canada)
Commercial Vehicle Radar Market and Key Technology
1) 77-81 GHz Radar – The 77–81 GHz radar operates in the 4 GHz bandwidth with a maximum frequency range of 81 GHz. This bandwidth is best suited for short-range radar applications. The application of 77 GHz radar includes ADAS applications such as Autonomous Emergency Braking (AEB) and Adaptive Cruise Control (ACC). Currently, 77 GHz radars are widely used in the automotive industry.
2) 24 GHz Radar – 24 GHz band ranges from 24.0 GHz to 24.25 GHz and is called narrowband (NB). This has a bandwidth of 250 MHz. This is a relatively older technology than 77 GHz radar. The 24 GHz radar solution for commercial vehicles is aimed at ADAS features such as BSD and lane change assist.
3) Radar used in ADAS for commercial vehicles – Commercial vehicles include trucks, buses, vans, and pickup trucks, etc. Many ADAS features have now been quipped in these commercial vehicles which use radar as one of the sensors. Radar is more cost-effective than other technologies such as LiDAR, without compromising on major features.
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North America is expected to be the largest market. The region is considered to be the early adopter of technologies like ADAS in Passenger and commercial vehicles. Also, the presence of players like Visteon, Velodyne Lidar, Texas, FCA, and GM is a key factor in the growth of the commercial vehicle & Off-highway radar market.
The off-highway vehicle segment is expected to have the fastest-growing market in the Asia-Pacific region, by vehicle type, during the forecast period.
As off-highway vehicles work alongside in construction and mining sites, BSD can alert the driver about the presence of a pedestrian/worker, which is of more importance in off-highway vehicles than commercial vehicles. Off-highway vehicles encounter different terrains that have no lanes, no marking, and improper visibility. The radar system is capable of performing in bad weather/ lighting conditions, which match the working conditions of off-highway vehicles. The Asia Pacific is the fastest market for off-highway vehicle radars due to maximum infrastructure projects initiated by governments in the region.
The commercial vehicle is expected to have the largest market share in the commercial vehicle & off-highway radar market, by vehicle type, during the forecast period.
Radar is much more cost-effective compared to other technology such as LiDAR without compromising on significant features. This has enabled its full application across the globe. To tackle speed, distance, direction, and angle of arrival, radars detect moving objects and measure speed which helps in lane maintenance and avoids accidents. Companies are launching and shifting towards ADAS features in commercial vehicles. For instance, in 2017, Volvo Trucks launched its new VNL series of semi-trucks. The truck is equipped with Advanced Driver Assist Systems (ADAS), which includes forward-collision warning, adaptive cruise control, lane departure warning, and automatic emergency braking.
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Europe is expected to account for the second-largest market size during the forecast period.
The European region is expected to be the second-largest market during the forecast period. Europe has been at the forefront to improve the safety of commercial vehicles, for which the EU institutions have announced their plans to mandate vehicles with safety features by 2022. Many of the automotive OEMs in this region have equipped their vehicles with ADAS features as a standard. The trend of adoption of vehicles with advanced safety features in Europe is expected to continue during the forecast period which is also another key factor fuelling the growth of the commercial vehicle & off-highway radar market during the forecast period. However, due to the global wave of CONVID-19, Europe, and other regions as well will have a direct impact on the auto industry. The impact has started with the recent shutdown and halt of companies like Ford, Nissan, and Vauxhall to close plants due to falling sales and lack of parts. This will be causing an economic slowdown in Europe for time being.
Mr. Aashish Mehra