PORTLAND, OREGAON, UNITED STATES, February 5, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Hill-Start Assist System Market Size, Share, Competitive Landscape and Trend Analysis Report by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), by Vehicle Propulsion (ICE Vehicles, Electric and Hybrid Vehicles), by Vehicle Class (Luxury, Economy): Global Opportunity Analysis and Industry Forecast, 2021-2031.”
𝐇𝐢𝐥𝐥-𝐒𝐭𝐚𝐫𝐭 𝐀𝐬𝐬𝐢𝐬𝐭 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬 𝟐𝟎𝟐𝟏-𝟐𝟎𝟑𝟏 :
The hill-start assist system market was valued at $2.7 billion in 2021, and is estimated to reach $5.4 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/32200
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
HELLA GmbH & Co. KGaA,
Robert Bosch GmbH,
ZF Friedrichshafen AG,
Murata Manufacturing Co., Ltd.
Hill-start assist system was first introduced by luxury vehicle manufacturers as an additional safety feature in vehicles. Several luxury vehicle manufacturers have introduced a wider range of vehicles equipped with advanced features such as hill-start assist, electronic stability control, and others to cater to the growing consumer demand. For instance, in March 2022, BMW launched its 2022 BMW X4 facelift in India. The vehicle is equipped with hill-start assist and hill descent control features for greater passenger safety.
Additionally, economy vehicles are gaining immense traction in the hill-start assist system market, owing to the introduction of stringent safety rules and greater awareness regarding the integration of safety features such as hill-start assist systems in new vehicles. Several vehicle manufacturers are launching new vehicles equipped with hill-start assist systems in the market, which boosts the growth of the segment. For instance, in 2021, Toyota launched its 2022 Toyota Raize, which is equipped with hill-start assist control system.
Increase in the demand for light commercial vehicle for the purpose of carrying passenger and cargo leads to the growth of the industry. In March 2022, in Qatar, Qatar Automobiles company launched FUSO Japanese Canter Euro 5 light truck and 37-seater BA bus in Doha. The canter truck offers safety features such as side door beams, ABS+EBD, hill start assist, and others. Moreover, in 2022, REE Automotive launched its P7-B, an electric Class 3 box truck. P7 box truck offers increased interior space for passengers and cargo; and has a maximum range of 150 miles with up to 2,000 kg payload. It also supports all-wheel drive, adaptive regenerative braking, hill-start assist, and torque vectoring.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/hill-start-assist-system-market/purchase-options
The significant factors impacting the growth of hill-start assist system market include rise in concern associated with road safety, greater adoption of driver assistance systems, high demand for vehicles equipped with safety features, and implementation of stringent safety rules and regulations by governments across the world. However, factors such as complexity associated with aftermarket integration of hill-start assist, and unavailability of raw materials are expected to hamper the market growth. Furthermore, increase in adoption of electric vehicles, and greater demand from emerging countries are expected to create new growth opportunities for the hill-start assist system market during the forecast period.
Furthermore, several countries have implemented laws and regulations for vehicles to install safety systems such as blind spot detection system, lane departure warning system, hill-start assist system, electronic stability control, and tire pressure monitoring system in vehicles. Moreover, automobile manufactures need to obtain safety ratings from organizations such as the Insurance Institute of Highway Safety (IIHS), New Car Assessment Program (NCAP), and International Centre for Automotive Technology (ICAT) to access the sales license of vehicles in the market. Thus, safety rules and regulations implemented by governments across the world are expected to boost the growth of the hill-start assist system market in the coming years.
𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :
Even though the growth of the global hill-start assist system was hampered during the pandemic, the market is expected to experience growth in the coming years. Several countries are planning to implement vehicular and road safety regulations, promoting the integration of hill-start assist system in vehicles in the coming years.
𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/32200
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :
By vehicle type, the heavy commercial vehicle segment is anticipated to exhibit significant growth in the near future.
By vehicle propulsion, the electric and hybrid vehicle segment is anticipated to exhibit significant growth in the near future.
By vehicle class, the economy segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.