Automotive Speed Limiter Market
Automotive Speed Limiter Market Study by Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Vehicles, Motorhomes/RVs, and Off-Highway From 2024 to 2034
Analysis of Automotive Speed Limiter Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Automotive Speed Limiter Market Outlook (2024 to 2034)
Worldwide revenue from the automotive speed limiters market is estimated to stand at US$ 2.24 billion in 2024 and is slated to increase at a CAGR of 9.4% to reach US$ 5.5 billion by 2034.
The road speed limiter is one of the most crucial components of the car. It keeps the car from going beyond a speed limit set by the manufacturer. The automotive speed limiter industry outlook is analyzed to show positive sentiments because of both passenger cars and commercial trucks using them more often. Governments and international organizations have implemented a variety of vehicle safety standards in response to the growing incidences of traffic accidents worldwide.
Speed limiter-equipped cars are probably also more fuel-efficient. The automotive speed limiter market is further driven by the installation of speed limiters, which prevent cars from exceeding the set limit and force them to operate within a certain range, thus saving fuel.
A speed restriction is used to safeguard the safety of the car and its occupants. Increased traffic and incidents of trauma and accidents have made the adoption of speed limiters obligatory. Moreover, car owners now have an additional weapon in their toolbox to control a driver's speed, especially on highways, when petrol costs climb.
An optimistic projection for growing passenger car fleets globally supports the development trajectory of the global road speed limiter market. In addition, the simplicity of installation contributes to the increasing popularity of the component and propels the speed limiter market.
As per the automotive speed limiter industry outlook, the primary factors that are driving growth are the ease of installation of the system and the growing attention of prominent companies to expanding passenger vehicle production at a reasonable rate. Furthermore, government regulations pertaining to safety standards and the growth of road transportation in potentially high growth countries are the driving force behind the expansion of market potential for major participants.
| Report Attribute | Detail |
|---|---|
| Automotive Speed Limiter Market Size (2024E) | US$ 2.24 Billion |
| Forecasted Market Value (2034F) | US$ 5.5 Billion |
| Global Market Growth Rate (2024 to 2034) | 9.4% CAGR |
| East Asia Market Value (2024E) | US$ 567.8 Million |
| Mexico Market Value (2034F) | US$ 134.7 Million |
| Off-highway Segment Growth Rate (2024 to 2034) | 9.2% CAGR |
| United States Market Value (2034F) | US$ 883.2 Million |
| Key Companies Profiled | MKP Parts B.V.; Vodafone Automotive SpA; AVS LTD.; Remote Control Technologies Pty Ltd (RCT); Continental AG; Highway Digital (Nigeria) Limited; SABO Electronic Technology Co., Ltd. |
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What are the Demand Drivers for Vehicle Speed Limiters?
A vehicle's and its occupants' safety is ensured by an automotive speed limiter. According to the automotive speed limiter industry analysis, the need is increasing along with traffic volume, accidents, and trauma-related incidents. Additionally, as gasoline prices continue to rise, vehicle operators now have another tool at their disposal to limit a driver's speed, particularly when traveling on the highway.
The global market for vehicle speed limiters is expected to increase at a steady rate due to a rising global fleet of passenger cars. Aside from this, the speedy and simple installation of automobile speed limiters strengthens the component's emerging use and helps the market for speed limiters grow. Rapid urbanization and increased disposable income will support the expansion of the automotive industry economically.
The popularity of conventional vehicles with less-equipped technology impounds the automotive speed limiter market in Asian countries. Moreover, high acceptance and imposition of fines against speed violations are foreseen to steer the global automotive speed limiter market.
Intelligent automotive speed limiter combines the functionality of key technologies, including adjustable speed limiters and traffic sign recognition. Subsequently, in a nutshell, economic factors and regional demographics play a pivotal role in the global automotive speed limiter market.
Segment-Wise Insights
On the type of sales channels, the market is divided into OEM and aftermarket. The rising government mandates and reduction in road traffic accidents are fostering demand for speed limiters in cars. The OEM is projected to expand with the traction in this market.
Based on the type the vehicle speed limiter market is divided into commercial, passenger, and electric vehicles. Some governments have made it mandatory for vehicles to have speed limiters. The rapid industrialization and development of the construction industry foster demand for speed limiters. The electronic speed limit is a novel addition to automotive speed control systems as with the help of GPS the speed limit is regulated from programmed data.
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Regional Outlook
With the prevalence of speed cameras in the countries of Western Europe, the technology-automotive speed limiter finds itself a good match. Intelligent automotive speed limiters will augment the safety inclusions in the vehicle. Besides mandatory attachment of automotive speeded limiters in new cars across North America and Western Europe is set to promulgate the growth of the automotive speed limiter market.
Further, the government of India has been striving to mandate the use of automotive speed limiters in a bid to curb speeding and reduce related accidents. Singapore and other ASEAN countries will witness a surge in the utilization of automotive speed limiters over the coming years.
With the substantial disposable income of the people in some countries of the Middle East, a growing fleet of luxury vehicles will encourage the demand for automotive speed limiters. Moreover, Latin America is expected to enhance the use of automotive speed limiters in the near future.
Competitive Landscape
The market is centered around major manufacturers and brands. As per the automotive speed limiter industry analysis, these companies are focusing on the creation of differentiation to keep themselves competitive. Brands focusing on the enhancement of production capacities to serve growing demand. The companies are also engaging with third-party firms to manage distribution.
A high cost of capital is required in this industry, which creates a hurdle for the start-up ecosystem. The major labor cost and required infrastructure cost are reasons why small and medium enterprises find this industry unfavorable.
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Competitive landscape highlights only certain players
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Segmentation of Automotive Speed Limiter Market Research
-
By Product Type :
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Passenger Vehicles
- Motorhomes/RVs
- Off-highway
-
By Sales Channel :
- OEMs
- Aftermarket
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Product Type
- 6.2. Sales Channel
- 7. Global Market Analysis and Forecast, By Product Type
- 7.1. Heavy Commercial Vehicles
- 7.2. Light Commercial Vehicles
- 7.3. Passenger Vehicles
- 7.4. Motorhomes/RVs
- 7.5. Off-Highway
- 8. Global Market Analysis and Forecast, By Sales Channel
- 8.1. OEM Automotive Speed Limiter
- 8.2. Aftermarket Automotive Speed Limiter
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Western Europe
- 9.4. Eastern Europe
- 9.5. Asia Pacific
- 9.6. East Asia
- 9.7. MEA
- 10. North America Sales Analysis and Forecast, by Key Segments and Countries
- 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 14. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 16. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 17. Sales Forecast by Product Type and Sales Channel for 30 Countries
- 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 19. Company Profile
- 19.1. MKP Parts B.V.
- 19.2. Vodafone Automotive SpA
- 19.3. AVS LTD.
- 19.4. Remote Control Technologies Pty Ltd (RCT)
- 19.5. Continental AG
- 19.6. Highway Digital (Nigeria) Limited
- 19.7. SABO Electronic Technology Co., Ltd.
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List Of Table
Table 01: Global Market US$ Bn Forecast by Region
Table 02: Global Market US$ Bn Forecast by Product Type
Table 03: Global Market US$ Bn Forecast by Sales Channel
Table 04: North America Market US$ Bn Forecast by Country
Table 05: North America Market US$ Bn Forecast by Product Type
Table 06: North America Market US$ Bn Forecast by Sales Channel
Table 07: Latin America Market US$ Bn Forecast by Country
Table 08: Latin America Market US$ Bn Forecast by Product Type
Table 09: Latin America Market US$ Bn Forecast by Sales Channel
Table 10: Western Europe Market US$ Bn Forecast by Country
Table 11: Western Europe Market US$ Bn Forecast by Product Type
Table 12: Western Europe Market US$ Bn Forecast by Sales Channel
Table 13: Eastern Europe Market US$ Bn Forecast by Country
Table 14: Eastern Europe Market US$ Bn Forecast by Product Type
Table 15: Eastern Europe Market US$ Bn Forecast by Sales Channel
Table 16: Asia Pacific Market US$ Bn Forecast by Country
Table 17: Asia Pacific Market US$ Bn Forecast by Product Type
Table 18: Asia Pacific Market US$ Bn Forecast by Sales Channel
Table 19: East Asia Market US$ Bn Forecast by Country
Table 20: East Asia Market US$ Bn Forecast by Product Type
Table 21: East Asia Market US$ Bn Forecast by Sales Channel
Table 22: MEA Market US$ Bn Forecast by Country
Table 23: MEA Market US$ Bn Forecast by Product Type
Table 24: MEA Market US$ Bn Forecast by Sales Channel
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List Of Figures
Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channel
Figure 03: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Region
Figure 04: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 05: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channel
Figure 06: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 07: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 08: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channel
Figure 09: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 10: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 11: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channel
Figure 12: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 13: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 14: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channel
Figure 15: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 16: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 17: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channel
Figure 18: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 19: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 20: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channel
Figure 21: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 22: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 23: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channel
Figure 24: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the expected growth rate for the automotive speed limiter market?
The automotive speed limiter market is evaluated to rise at a CAGR of 9.4% in the forecast period.
Why is the demand for vehicle speed limiters increasing?
The ability of automotive speed limiters to ensure the safety of vehicles and their occupants is analyzed to stimulate their demand.
Which are the leading regional markets of automotive speed limiters?
The markets in Europe and North America regions hold noticeable positions in the global market.
What is the present market size of automotive speed limiters?
The global market for automotive speed limiter is valued at US$ 2.24 billion in 2024.
What is the future market lookout for automotive speed limiters?
The market is further evaluated to cross a valuation of US$ 5.5 billion by 2034.
Automotive Speed Limiter Market