Commercial & Off-Highway Vehicle Radar Market: Current Analysis and Forecast (2022-2028)

Report Description

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Global Commercial & Off-Highway Vehicle Radar Market is expected to grow at a significant rate of around 22% during the forecast period. The commercial and off-highway radar market is a rapidly growing industry that includes the development and implementation of radar systems in various commercial and off-highway applications. These applications include automotive, transportation, industrial, and construction sectors. In recent years, Automation is becoming more prevalent in various commercial and off-highway applications, from logistics and transportation to mining and construction. Radar-based systems play a key role in enabling automation by providing accurate and reliable information about the vehicle’s surroundings. For example, some construction equipment is equipped with radar-based systems to help operators monitor their surroundings and avoid collisions. Furthermore, The increasing number of accidents in the commercial and off-highway sectors has led to a surge in demand for advanced safety features such as radar-based systems. These systems can help prevent collisions, reduce the risk of accidents, and improve overall safety. For example, some modern commercial vehicles are equipped with radar-based adaptive cruise control, collision avoidance, and blind spot detection systems. Thus, the growing focus and investment of key stakeholders for the research and development of technologically advanced radars is further expected to support market growth.

HELLA GmbH & Co. KGaA; Texas Instruments Incorporated; Continental AG; Robert Bosch GmbH; Infineon Technologies AG; Aptiv, Magna International, Inc.; ZF FRIEDRICHSHAFEN AG; VALEO; and DENSO CORPORATION are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Frequency, 77-81Ghz category to significant growth rate during the forecast period”

Based on frequency, the market is segmented into 22Ghz and 77-81Ghz. The 77-81 GHz segment is one of the key segments in the commercial and off-highway radar market, and it is expected to have a significant growth rate due to several factors such as the 77-81 GHz band is ideal for high-performance radar applications such as long-range detection, making it suitable for advanced safety features such as forward collision warning, lane departure warning, and pedestrian detection. These features are becoming increasingly important in the commercial and off-highway sectors, where safety is a top priority. Additionally, Advancements in radar technology have made 77-81 GHz radar systems more affordable and easier to implement, which has led to an increase in adoption in various commercial and off-highway applications.

Commercial & Off-Highway Vehicle Radar Market Report Coverage

“Amongst radar, the off-highway vehicle to hold a significant share in the market.”

On the basis of radar type, the market is categorized into a commercial vehicle and off-highway vehicle. Among these, the off-highway vehicle holds a significant share of the market. This is mainly due to off-highway vehicle operations in harsh environments and under challenging conditions, which require robust and reliable sensing technologies such as radar. Off-highway vehicles are used in industries such as construction, mining, agriculture, and forestry, where the environment is often dusty, muddy, or snowy, and visibility is limited. In such conditions, radar sensors can provide accurate and real-time information on the vehicle’s surroundings, including the location of obstacles, other vehicles, and personnel. Moreover, the off-highway vehicle market is experiencing significant growth, driven by the increasing demand for construction and mining activities in emerging economies. As a result, there is a growing need for advanced sensing technologies such as radar, which can improve the safety and efficiency of these vehicles.

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“North America to hold a significant share in the market.”

North America is expected to hold a significant share of the Commercial and Off-Highway Radar Market. High adoption of advanced driver assistance systems (ADAS). North America has a high adoption rate of ADAS in commercial and off-highway vehicles. These systems use radar sensors to detect obstacles and provide drivers with warnings, making them safer and more efficient. This has led to an increased demand for radar sensors, driving the growth of the market. Additionally, North America is home to several key players in the radar market, including major companies such as Continental AG, Delphi Technologies, and Texas Instruments. These companies have invested heavily in research and development, resulting in the development of advanced radar systems that are widely adopted in the market. Moreover, the North American market is also witnessing a growing demand for autonomous vehicles, which rely heavily on radar sensors to operate. This has further driven the demand for radar sensors and is expected to fuel the growth of the market in the coming years.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Research Methodology for the Commercial & Off-Highway Vehicle Radar Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global commercial & off-highway vehicle radar market were the three major steps undertaken to create and analyze the adoption of commercial & off-highway vehicles in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global commercial & off-highway vehicle radar market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the commercial & off-highway vehicle radar market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the commercial & off-highway vehicle radar market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report such as frequency, radar, application, and component. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the commercial & off-highway vehicle radar market. Further, we conducted factor analysis using dependent and independent variables such as various frequency, radar, application, and component of commercial & off-highway vehicles. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the commercial & off-highway vehicle radar market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global commercial & off-highway vehicle radar market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

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Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the commercial & off-highway vehicle radar market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global commercial & off-highway vehicle radar market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global commercial & off-highway vehicle radar market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of various frequency, radar, application, and component in the global commercial & off-highway vehicle radar market.

The main objective of the Global Commercial & Off-Highway Vehicle Radar Market Study

The current & future market trends of the global commercial & off-highway vehicle radar market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the commercial & off-highway vehicle radar market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of various frequency, radar, application, and component
• Define and analysis of the regulatory framework for the commercial & off-highway vehicle radar industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the commercial & off-highway vehicle radar market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the commercial & off-highway vehicle radar market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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