Global Road speed limiter Market is valued approximately at USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2021-2027. The speed limiter is a safety device that prevents drivers from exceeding the speed limit. It has application in both commercial and passenger vehicle and prevents vehicles to exceed the set speed limit. Global rise in production of automobiles is major factor driving the market growth in the forthcoming period. For instance, as per Statista, globally over 92 million automobiles were produced in 2019. Out of which, China accounted for the largest share in global car product ion which is 28%. According to the International Organization of Motor Vehicle Manufacturers, the passenger car production in Japan grew to 4,98,034 units from 2015-2019. In Japan, the passenger car production was over 7,830,722 in 2015 units and grew to 8328756 units in 2019. Similarly, passenger car production in India rose with 2,45,272 units during 2015-2019. In India, the passenger car production in 2015 was 3,378,063 units and increased to 3,623,335 units. Also, surging number of traffic accidents worldwide has prompted government & international organizations to enact various vehicle safety regulations which is propelling the growth of market over the forecast years. However, availability of counterfeit products in the market and high cost of road speed limiters are major factor hampering the market growth.
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The major regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World are considered for the geographical analysis of global Road speed limiter market. Asia-Pacific is the dominating region across the world in terms of market share and is also anticipated to exhibit the highest CAGR over the forecast period 2021-2027 owing to the rising automotive production and sales in the region and surging road accidents.
Major market player included in this report are:
Continental A.G.
Vodafone Automotive
Autokontrol
AVS LTD.
Elson GmbH
Highway Digital
SABO Electronic Technology
Autograde International
IMPCO Technologies
Pricol Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the Transport Mode within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Product Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Adjustable Speed Limiter
Intelligent Speed Limiter
By Application:
Passenger cars
Commercial vehicles
By Sales Channel:
OEM
Aftermarket
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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