Global road speed limiter market is anticipated to grow at a considerable CAGR of 8.7% during the forecast period (2024-2031). The speed limiter market is expected to grow quickly due to the increasing use of speed limiters by both passenger cars and commercial vehicles manufacturers. Various vehicle safety standards have been enacted by governments and international organizations in response to the increasing number of traffic accidents occurring worldwide.
Automobiles equipped with speed limiters also probably use less gas. Vehicles operating within a designated range are unable to violate the speed limit owing to the installation of speed limiters, which reduces fuel consumption and propels the market for road speed limiters. The growing automation in automobiles is anticipated to drive the global market.
Browse the full report description of “Road Speed Limiter Market Size, Share & Trends Analysis Report by Product Type (Adjustable, Speed Limiter and Intelligent Speed Limiter), by Application (Passenger vehicle and Commercial vehicle), and by Sales Channel (OEM and Aftermarket) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/road-speed-limiter-market
For instance, in January 2023, Mercedes-Benz received government approval for driving feature. The company had self-certified in Nevada for use of its Drive Pilot feature, in which the car does all the driving but the driver needs to stand by to take control at a moment’s notice.
Further, in September 2023, Federal Motor Carrier Safety Administration (FMCSA) is advising their intent to proceed with a motor carrier-based speed limiter by preparing a supplemental notice of proposed rulemaking (SNPRM) to follow up, which was jointly issued by the National Highway Traffic Safety Administration’s and FMCSA.
Market Coverage
• The market number available for – 2023-203
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Product Type
o By Application
o By Sales Channel
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includesContinental A.G., Vodafone Automotive Spa, Autokontrol, AVS LTD. and Pinnacle Systems Ltd. among others.
Key questions addressed by the report.
Global Road Speed Limiter Market Report Segment
By Product Type
By Application
• Passenger vehicle
o Hatchback
o Sedan
o SUV
• Commercial vehicle
o Light commercial vehicle
o Heavy commercial vehicle
o Buses & coaches
By Sales Channel
Global Road Speed Limiter Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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