Global Trailer Assist System Market to Reach $182 Million by 2027 - Increasing Developments in the Field of Autonomous & Semi-Autonomous Vehicles Presents Opportunities - ResearchAndMarkets.com

DUBLIN--()--The "Trailer Assist System Market by Technology (Semi-Autonomous (L3), Autonomous (L4, L5)), Component (Camera/Sensor, Software Module), Vehicle (Passenger Cars, LCV, and Trucks), User (OEM Fitted & Aftermarket), and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The Global Trailer Assist System Market is Estimated to Grow from USD 82 Million in 2019 to Reach USD 182 Million by 2027, at a CAGR of 10.5% During the Forecast Period

Demand for safety and comfort features are significant factors for the growth of the trailer assist system market globally

With the increase in sales of passenger cars and LCVs, consumers are increasingly demanding comfort & safety for these vehicle segments. However, limited usage of towing trailers in developing countries can create a hurdle for its growth.

Increase in sales of passenger cars and LCV's are likely to propel the growth of passenger cars and LCV's during the forecast period

The passenger cars segment is expected to be the fastest growing market. The trailer assist system for LCVs is provided by very few OEMs, which includes Volkswagen in Europe, and Ford in the US. Volkswagen is offering the system as an optional package for Touran and Crafter van for the European region only except few countries, whereas Ford provides trailer assist system for F-series in LCV in North America which includes the US and Canada. The LCV market is high in numbers due to the US and Canada, where F-series sales are high. The demand for LCV is expected to grow at the highest growth rate in North America, where people prefer more LCVs compared to passenger cars. In Europe, the market will increase with a moderate growth rate.

The North American market is expected to register the fastest growth during the forecast period

The North American market is expected to witness the fastest growth, followed by Western Europe and Eastern Europe. The automotive industry, primarily dominated by the US, is one of the most advanced automotive sectors, with a penchant for highly advanced and powerful automobiles. The OEMs which are providing trailer assist system in this region are Ford and Land Rover. Ford has launched this feature specifically for its North American customers for models like Ford Expedition and F-series.

Western Europe is expected to be the largest market during the forecast period

Western Europe is expected to be the largest market, followed by North America. In Western Europe, the countries included are France, Germany, Spain, Italy, UK, Belgium, and the Netherlands. These countries are economically stable, have a high standard of living, and disposable income is high. People in these countries usually prefer towing trailers for various activities like recreational activities, camping, small business activities, household work. In these countries labor cost is high, so people usually prefer to do their household activities on their own, so the demand for towing trailers is high in Western European countries. The trailer assist system market comprises major manufacturers such as Bosch (Germany), Continental (Germany), Magna (Canada), Westfalia (Germany), and WABCO (Belgium)

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Trailer Assist System Market, 2019 vs. 2027

4.2 Trailer Assist System Market, By Region, 2019

4.3 Trailer Assist System Market, By Country

4.4 Trailer Assist System Market, By Vehicle Type, 2019 vs. 2027

4.5 Trailer Assist System Market, By User Type, 2019 vs. 2027

4.6 Trailer Assist System Market, By Component, 2019 vs. 2027

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increase in Demand for Safety and Comfort Features

5.2.1.2 Increase in Usage of Vehicle Towing Trailers in Developed Countries

5.2.1.3 Advancements in Technology

5.2.2 Restraints

5.2.2.1 High Cost

5.2.2.2 Non-Availability of Required Infrastructure in Developing Countries

5.2.3 Opportunities

5.2.3.1 Increasing Developments in the Field of Autonomous and Semi-Autonomous Vehicles

5.2.4 Challenges

5.2.4.1 Limited Usage of Towing Trailers in Developing Countries

6 Industry Trends

6.1 Introduction

6.2 Technology Analysis

6.2.1 Wireless Tablet/Smart Device to Operate

6.2.2 Trailer Angle Detection

6.2.3 Blind Spot Detection

6.3 Porter's Five Forces

7 Trailer Assist System Market, By Vehicle Type

7.1 Introduction

7.2 Research Methodology

7.3 Passenger Car

7.3.1 Increasing Usage of Towing Trailers Will Boost Demand

7.4 Light Commercial Vehicle

7.4.1 North America Will Lead the LCV Trailer Assist System Market

7.5 Truck

7.5.1 Technological Advancements in Trucks to Drive the Market

8 Trailer Assist System Market, By User Type

8.1 Introduction

8.2 Research Methodology

8.3 OEM Fitted

8.3.1 Demand for Towing Trailers in Western Europe is Estimated to Drive OEM Fitted Trailer Assist System Market

8.4 Aftermarket

8.4.1 Western Europe is Estimated to Lead the Market With Highest Growth Rate in Forecasted Period

9 Trailer Assist System Market, By Component

9.1 Introduction

9.2 Research Methodology

9.3 Camera/Sensor

9.3.1 Western Europe to Lead the Trailer Assist System Market for Camera/Sensor

9.4 Software Module

9.4.1 Advancement in Technology and Autonomous Initiatives to Drive the Software Module Segment

10 Trailer Assist System Market, By Technology

10.1 Observations: Semi-Autonomous

11 Trailer Assist System Market, By Region

11.1 Introduction

11.2 Western Europe

11.2.1 Belgium

11.2.1.1 Passenger Car is Estimated to Lead the Market With Highest Growth Rate in Forecasted Period

11.2.2 France

11.2.2.1 Passenger Car is Estimated to Lead the Market

11.2.3 Germany

11.2.3.1 Passenger Car is Growing With Highest Growth Rate in Forecasted Period Due to Demand for Comfort and Safety Features in Luxury Vehicle

11.2.4 Italy

11.2.4.1 Passenger Car is Estimated to Lead the Market With Highest Growth Rate in Forecasted Period By Volume and Value Both

11.2.5 Netherlands

11.2.5.1 LCV is Estimated to Lead the Market

11.2.6 Spain

11.2.6.1 Passenger Car is Estimated to Lead the Market With Highest Growth Rate in Forecasted Period

11.2.7 UK

11.2.7.1 Passenger Car is Estimated to Lead the Market With Highest Growth Rate in Forecasted Period

11.3 Eastern Europe

11.3.1 Poland

11.3.1.1 Passenger Car is Growing With Highest Growth Rate in Forecasted Period

11.3.2 Russia

11.3.2.1 Passenger Car is Estimated to Lead the Market

11.4 North America

11.4.1 Canada

11.4.1.1 LCV is Estimated to Be the Largest Market

11.4.2 US

11.4.2.1 Increase in Sales of LCV Along With Towing Trailer Will Lead LCV to Be the Highest Growing Segment

11.5 RoW

11.5.1 Australia

11.5.1.1 Passenger Car is Estimated to Be the Largest Market and Forecasted to Be the Highest Growing Segment

11.5.2 South Africa

11.5.2.1 Passenger Car is Forecasted to Be the Highest Growing in Segment

12 Competitive Landscape

12.1 Overview

12.2 Trailer Assist: Market Ranking Analysis

12.3 Competitive Scenario

12.3.1 Contracts & Agreements

12.3.2 New Product Developments

12.3.3 Expansions

12.3.4 Mergers & Acquisitions

12.3.5 Partnerships

12.4 Industry Leader Assessment/Benchmarking

13 Company Profiles

13.1 Continental AG

13.2 Bosch

13.3 Magna

13.4 Wabco

13.5 Westfalia

13.6 Towgo

13.7 Carit Automotive

13.8 Valeo

13.9 Garmin

13.10 Cogent Embedded

13.11 Dornerworks

13.12 Echomaster

For more information about this report visit https://www.researchandmarkets.com/r/8488i

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Related Topics: Automotive Safety, RVs and Mobile Homes

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Automotive Safety, RVs and Mobile Homes