Cruise control is a unique feature in a vehicle that controls the speed of the vehicle automatically. The cruise control system allows the vehicle to run at a constant speed without interference of the driver. It is generally controlled by the engine control module. The engine control module utilizes speed sensors to compare the actual speed with the set speed. The data transmitted by the speed sensor is received by the electronic control throttle, which operates the throttle valve in order to maintain the desired speed of the vehicle. The cruise control feature offers a comfortable ride for a long journey, less driver interference, and better fuel-economy.
Rising demand for fuel-efficient vehicles from consumer, increasing preference for driver comfort for longer journeys, and better vehicle control are key factors that are likely to drive the automotive cruise control market during the forecast period. Increase in presence of consumers toward safety, high rate of adoption of latest technology in Europe and North America, stringent norms enacted by governments across the globe about vehicle safety, and surge in sales of premium cars are expected to boost the automotive cruise control market during the forecast period. However, continuous changes in technology are expected to restrain the demand for cruise control technology, which in turn is anticipated to hamper the automotive cruise control market during the forecast period.
The global automotive cruise control market can be segmented based on component, vehicle type, and region. Based on component, the automotive cruise control market can be classified into steering wheel control, vehicle speed sensor, clutch pedal switch, brake pedal switch, and throttle position sensors, vacuum valve control, ECU, and vacuum actuator. The cruise control system is activated and deactivated by utilizing a switch or button provided on the steering wheel. The ECU plays an important role in entire cruise control system. Once the driver activates the system, the ECU compares the actual speed of the vehicle in order to maintain the desired speed. The ECU transmits the speed difference detected by the sensors to the electronic control throttle.
Based on vehicle type, the automotive cruise control market can be segregated into passenger vehicle and commercial vehicle. The passenger vehicle segment can be further sub-segmented into hatchback, sedan, and utility vehicle (UV). Rise in demand for passenger vehicles across the globe, owing to several factors such as availability of car loan with lower interest rates, availability of low budget cars due to competition among car manufacturers, and increase in purchase capabilities, is projected to boost the passenger car market during the forecast period. This, in turn, is expected to boost the automotive cruise control market during the forecast period.
Based on region, the automotive cruise control market can be segmented into North America, Europe, Middle East & Africa, and Asia Pacific. North America and Europe are expected to dominate the global automotive cruise control market. Government focus on human safety and high rate of adoption of latest technologies by OEMs are anticipated to fuel the adoption of cruise control system in these regions. The automotive cruise control market in Asia Pacific is likely to expand at a rapid pace during the forecast period, which is expected to be attributed to the raised awareness for safety amongst consumers and increase in per capita income coupled with developing road infrastructure.
Key players operating in the global automotive cruise control market include Robert Bosch GmbH, Continental AG, Denso Corporation, Aptiv, ZF Friedrichshafen AG, WABCO, Hitachi Automotive Systems, Ltd., and Mando Corp.
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