Global Trailer Assist System Market Outlook to 2027, Projecting a CAGR of 10.5%: Focus on Semi-Autonomous (L3) & Autonomous (L4, L5)

DUBLIN, June 13, 2019 /PRNewswire/ -- The "Trailer Assist System Market by Technology (Semi-Autonomous (L3), Autonomous (L4, L5)), Component (Camera/Sensor, Software Module), Vehicle (Passenger Cars, LCV, and Trucks), User (OEM Fitted & Aftermarket), and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The trailer assist system market is estimated to be USD 81,626 thousand in 2019 and projected to reach USD 181,910 thousand by 2027, at a CAGR of 10.5%. The major players in the market are few, including Continental (Germany), Robert Bosch (Germany), Magna (Canada), WABCO (Belgium), Westfalia (Germany), TowGo (US), and Carit Automotive (Germany).

With the increase in sales of passenger cars and LCVs, consumers are increasingly demanding comfort & safety for these vehicle segments. However, limited usage of towing trailers in developing countries can create a hurdle for its growth.

The passenger cars segment is expected to be the fastest growing market. The trailer assist system for LCVs is provided by very few OEMs, which includes Volkswagen in Europe, and Ford in the US. Volkswagen is offering the system as an optional package for Touran and Crafter van for the European region only except few countries, whereas Ford provides trailer assist system for F-series in LCV in North America which includes the US and Canada.

The LCV market is high in numbers due to the US and Canada, where F-series sales are high. The demand for LCV is expected to grow at the highest growth rate in North America, where people prefer more LCVs compared to passenger cars. In Europe, the market will increase with a moderate growth rate.

The North American market is expected to witness the fastest growth, followed by Western Europe and Eastern Europe. The automotive industry, primarily dominated by the US, is one of the most advanced automotive sectors, with a penchant for highly advanced and powerful automobiles. The OEMs which are providing trailer assist system in this region are Ford and Land Rover. Ford has launched this feature specifically for its North American customers for models like Ford Expedition and F-series.

Western Europe is expected to be the largest market, followed by North America. In Western Europe, the countries included are France, Germany, Spain, Italy, UK, Belgium, and the Netherlands. These countries are economically stable, have a high standard of living, and disposable income is high.

People in these countries usually prefer towing trailers for various activities like recreational activities, camping, small business activities, household work. In these countries labor cost is high, so people usually prefer to do their household activities on their own, so the demand for towing trailers is high in Western European countries.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Trailer Assist System Market, 2019 vs. 2027
4.2 Trailer Assist System Market, By Region, 2019
4.3 Trailer Assist System Market, By Country
4.4 Trailer Assist System Market, By Vehicle Type, 2019 vs. 2027
4.5 Trailer Assist System Market, By User Type, 2019 vs. 2027
4.6 Trailer Assist System Market, By Component, 2019 vs. 2027

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Demand for Safety and Comfort Features
5.2.1.2 Increase in Usage of Vehicle Towing Trailers in Developed Countries
5.2.1.3 Advancements in Technology
5.2.2 Restraints
5.2.2.1 High Cost
5.2.2.2 Non-Availability of Required Infrastructure in Developing Countries
5.2.3 Opportunities
5.2.3.1 Increasing Developments in the Field of Autonomous and Semi-Autonomous Vehicles
5.2.4 Challenges
5.2.4.1 Limited Usage of Towing Trailers in Developing Countries

6 Industry Trends
6.1 Introduction
6.2 Technology Analysis
6.2.1 Wireless Tablet/Smart Device to Operate
6.2.2 Trailer Angle Detection
6.2.3 Blind Spot Detection
6.3 Porter's Five Forces

7 Trailer Assist System Market, By Vehicle Type
7.1 Introduction
7.2 Research Methodology
7.3 Passenger Car
7.3.1 Increasing Usage of Towing Trailers Will Boost Demand
7.4 Light Commercial Vehicle
7.4.1 North America Will Lead the LCV Trailer Assist System Market
7.5 Truck
7.5.1 Technological Advancements in Trucks to Drive the Market

8 Trailer Assist System Market, By User Type
8.1 Introduction
8.2 Research Methodology
8.3 OEM Fitted
8.3.1 Demand for Towing Trailers in Western Europe is Estimated to Drive OEM Fitted Trailer Assist System Market
8.4 Aftermarket
8.4.1 Western Europe is Estimated to Lead the Market With Highest Growth Rate in Forecasted Period

9 Trailer Assist System Market, By Component
9.1 Introduction
9.2 Research Methodology
9.3 Camera/Sensor
9.3.1 Western Europe to Lead the Trailer Assist System Market for Camera/Sensor
9.4 Software Module
9.4.1 Advancement in Technology and Autonomous Initiatives to Drive the Software Module Segment

10 Trailer Assist System Market, By Technology
10.1 Observations: Semi-Autonomous

11 Trailer Assist System Market, By Region
11.1 Introduction
11.2 Western Europe
11.2.1 Belgium
11.2.1.1 Passenger Car is Estimated to Lead the Market With Highest Growth Rate in Forecasted Period
11.2.2 France
11.2.2.1 Passenger Car is Estimated to Lead the Market
11.2.3 Germany
11.2.3.1 Passenger Car is Growing With Highest Growth Rate in Forecasted Period Due to Demand for Comfort and Safety Features in Luxury Vehicle
11.2.4 Italy
11.2.4.1 Passenger Car is Estimated to Lead the Market With Highest Growth Rate in Forecasted Period By Volume and Value Both
11.2.5 Netherlands
11.2.5.1 LCV is Estimated to Lead the Market
11.2.6 Spain
11.2.6.1 Passenger Car is Estimated to Lead the Market With Highest Growth Rate in Forecasted Period
11.2.7 UK
11.2.7.1 Passenger Car is Estimated to Lead the Market With Highest Growth Rate in Forecasted Period
11.3 Eastern Europe
11.3.1 Poland
11.3.1.1 Passenger Car is Growing With Highest Growth Rate in Forecasted Period
11.3.2 Russia
11.3.2.1 Passenger Car is Estimated to Lead the Market
11.4 North America
11.4.1 Canada
11.4.1.1 LCV is Estimated to Be the Largest Market
11.4.2 US
11.4.2.1 Increase in Sales of LCV Along With Towing Trailer Will Lead LCV to Be the Highest Growing Segment
11.5 RoW
11.5.1 Australia
11.5.1.1 Passenger Car is Estimated to Be the Largest Market and Forecasted to Be the Highest Growing Segment
11.5.2 South Africa
11.5.2.1 Passenger Car is Forecasted to Be the Highest Growing in Segment

12 Competitive Landscape
12.1 Overview
12.2 Trailer Assist: Market Ranking Analysis
12.3 Competitive Scenario
12.3.1 Contracts & Agreements
12.3.2 New Product Developments
12.3.3 Expansions
12.3.4 Mergers & Acquisitions
12.3.5 Partnerships
12.4 Industry Leader Assessment/Benchmarking

13 Company Profiles
13.1 Continental AG
13.2 Bosch
13.3 Magna
13.4 Wabco
13.5 Westfalia
13.6 Towgo
13.7 Carit Automotive
13.8 Valeo
13.9 Garmin
13.10 Cogent Embedded
13.11 Dornerworks
13.12 Echomaster

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