Portland, OR, Jan. 18, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hill-start assist system market garnered $2.7 billion in 2021, and is estimated to generate $5.4 billion by 2031, manifesting a CAGR of 7.2% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Hill-Start Assist System Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2.7 billion |
| Market Size in 2031 | $5.4 billion |
| CAGR | 7.2% |
| No. of Pages in Report | 231 |
| Segments covered | vehicle type, vehicle propulsion, vehicle class, and region |
| Drivers | Surge in adoption of driver assistance systems High demand for vehicles equipped with safety features Implementation of stringent safety rules and regulations by governments across the world |
| Opportunities | Increase in adoption of electric vehicles Surge in demand from emerging countries |
| Restraints | Complexity associated with aftermarket integration of hill-start assist systems Unavailability of raw materials |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global hill-start assist system market, owing to implementation of global lockdown which resulted to hamper the end use industry.
- Curfew practices globally affected the domestic as well as international production of hill-start assist system, which, in turn, hampered the growth of the overall market.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced shortage of labor and unavailability of raw materials.
- The hill-start assist system market has high scope of growing opportunities in the future due to factors such as high demand for vehicles equipped with safety features, and greater adoption of driver assistance systems. Introduction of safety regulations in developing countries.
The research provides detailed segmentation of the global hill-start assist system market based on vehicle type, vehicle propulsion, vehicle class, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on vehicle type, the passenger car segment held the highest share in 2021, accounting for more than two-thirds of the global hill-start assist system market, and is expected to continue its leadership status during the forecast period. However, the heavy commercial vehicle segment is expected to register the highest CAGR of 8.9% from 2022 to 2031.
Based on vehicle propulsion, the ICE vehicle segment accounted for the highest share in 2021, contributing to more than 90% of the global hill-start assist system market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the electric and hybrid vehicle segment is expected to manifest the highest CAGR of 17.1% from 2022 to 2031.
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Based on vehicle class, the luxury segment accounted for the highest share in 2021, holding more than two-thirds of the global hill-start assist system market, and is expected to continue its leadership status during the forecast period. However, the economy segment is estimated to grow at the highest CAGR of 9.1% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly half of the global hill-start assist system market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 8.1% during the forecast period.
Leading market players of the global hill-start assist system market analyzed in the research include Borgwarner Inc., Continental AG, BWI Group, Aisin Corporation, HELLA GmbH & Co. KGaA, Fujitsu, Knorr-Bremse AG, ZF Friedrichshafen AG, Murata Manufacturing Co., Ltd., Robert Bosch GmbH.
The report provides a detailed analysis of these key players of the global hill-start assist system market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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