Stringent road safety regulations and rapid adoption of innovative solutions by automotive market players are expected to drive the global automotive aquaplaning solution market growth in the forecast period, 2023-2027.
According to TechSci Research report, “Automotive Aquaplaning Solution Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global automotive aquaplaning solution market is anticipated to witness impressive growth in the forecast period, 2023-2027. An increase in automobile production and sales across different vehicle segments and growing competition among the tire manufacturers are driving the demand for the global automotive aquaplaning solution market and driving the automobiles in the rainy season results in road accidents. Tires in automobiles are required to have a tread pattern, and the main job of the tread pattern is to expel the water while driving the automobiles on a wet road at high speed. Aquaplaning happens in the tires of an automobile when a layer of water comes between the wheels of the vehicle and the road surface, leading to loss of traction that makes the vehicle lose control and respond to control inputs provided by the driver. Automotive manufacturers are installing aquaplaning solutions to provide more control to the driver and enhance safety and comfort while driving an automobile.
However, the high cost of manufacturing the technology may restrain the global automotive aquaplaning solution market growth.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Automotive Aquaplaning Solution Market"
The global automotive aquaplaning solution market is segmented into vehicle type, propulsion, company, and regional distribution.
Based on the vehicle type, the global automotive aquaplaning solution market is divided into two-wheeler, passenger car, LCV, and M&HCV. The two-wheeler vehicles are expected to hold the largest market share in the forecast period, 2023-2027. Consumers prefer to buy two-wheeler vehicles as they are easy to navigate through the dense traffic and are affordable than buying four-wheeler vehicles. In the case of the rainy season or area which is flooding with water, two-wheeler skid on the road and accidents happen which also results in fatalities. Two-wheeler automobile manufacturers are investing in installing aquaplaning solutions to improve vehicle performance and safety while driving and boost their sales. The expected launch of two-wheeler vehicles equipped with aquaplaning solutions is anticipated to attract a lot of customers as it is a novel technology, and the technology services providers are working on effectively installing this technology in automobiles.
Based on the propulsion, the global automotive aquaplaning solution market is divided into ICE and electric. ICE propulsion is dominating the market and is expected to maintain its dominance throughout the forecast period. Automobiles running on ICE propulsion type are in high demand among the consumers. Increased expenditure capacity of consumers and the growing preference of consumers for private vehicle ownership are fueling the sales of automobiles running on ICE propulsion. Market players offering aquaplaning solutions are planning to install aquaplaning solutions in automobiles due to their high demand, and therefore ICE propulsion type is expected to capture the largest market share in the forecast period.
Based on the regional analysis, the North American region is expected to hold the largest market share in the forecast period. The presence of well-developed technology infrastructure and the major market players are driving the demand for the global automotive aquaplaning solution market in the region. The rise in consumer awareness about road safety and the implementation of government regulations to ensure maximum safety while driving is expected to boost the growth of the global automotive aquaplaning solution market.
Major market players operating in the global automotive aquaplaning solution market are :
- Continental AG
- Robert Bosch GmbH
- Easyrain i.S.p.A.
- Italdesign Giugiaro S.p.A.
- Volkswagen AG
“OEMs' rapid adoption of cutting-edge technology to stay ahead in the market by offering product differentiation to customers by integrating innovative solutions focusing on enhancing the experience and performance of vehicles are expected to create lucrative opportunities for market growth. Infrastructural growth in developing economies boosts the demand for construction and commercial vehicles. The high demand for high-performance tires is paving the way for installing aquaplaning solutions in automobiles. High-end investments by market players, increasing vehicle fleet, and rise in the number of market players offering innovative road safety solutions are expected to propel the global automotive aquaplaning solution market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Automotive Aquaplaning Solution Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Vehicle Type (Two-Wheeler, Passenger Car, LCV, and M&HCV), By Propulsion (ICE, Electric), and By Region”, has evaluated the future growth potential of global automotive aquaplaning solution market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global automotive aquaplaning solution market.
Mr. Ken Mathews
708 Third Avenue,
New York – 10017
Email: [email protected]