Automotive Aquaplaning Solution Market to be dominated by ICE propulsion automobiles through 2027
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.
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Automotive Aquaplaning Solution Market"
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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
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“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.
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