Middle East & Africa Automotive Radar Market
The automotive radar market in the MEA is segmented into South Africa, Turkey, and the Rest of MEA. The region is expected experience rapid rise in industrialization, which would further boost the growth of a diverse range of industries, including automotive. The Gulf countries are economically advanced, while the African countries are yet to match up to their economic conditions. Factors such as surge in the number of passenger and commercial vehicles on-road, and increasing demand for the integration of automated technologies in vehicles are fueling the automotive radar market growth in the MEA. I Increase in vehicle production and elevated disposable income are propelling the demand for automotive radar systems in this region Governments of several countries have redirected their focus on the automotive sector, to reduce their dependency on any particular sector. The Government of South Africa launched South African Automotive Masterplan that aims to broaden and deepen the local value chains. However, the COVID-19 pandemic has severely affected the automotive sector in the MEA, resulting in shutting down of various manufacturing facilities in the region. The suppression of the automotive market is, in turn, restraining the growth of the automotive radar market in the region.
The ongoing COVID-19 outbreak is severely impacting the MEA region. Among the MEA countries, Iran has faced the highest number of COVID-19 confirmed cases. Other significant countries facing the economic impact of COVID-19 include Turkey, Saudi Arabia, UAE, Egypt, Morocco, and Kuwait. Due to their heavy reliance from European and Asian regions for various automotive OEMs and their aftermarket products, the regions witnessed a sharp decline in the MEA regions. Turkey is one of the key automotive producer in the region. The exports of passenger cars have witnessed a sharp decline. As per the Uludağ Automotive Industry Exporters' Association UiB, the car exports in Turkey declined by 77% compared to 2019. Turkey majorly export cars to the EU. By April 2020 itself, the export of cars to EU dropped by 81%. The COVID–19 pandemics will have a short-term impact on the MEA automotive radar market; however, the market will recover in the coming years.
Strategic insights for the Middle East & Africa Automotive Radar provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 207.3 Million |
| Market Size by 2027 | US$ 499.4 Million |
| Global CAGR (2020 - 2027) | 15.5% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Range
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East & Africa Automotive Radar refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The automotive RADAR market in MEA is expected to grow from US$ 207.3 million in 2019 to US$ 499.4 million by 2027; it is estimated to grow at a CAGR of 15.5% from 2020 to 2027. Road traffic injuries are a key public health concern faced by governments, and the increasing prevalence of the same hinders the development of countries. According to the data by the World Health Organization (WHO), ~1.35 million people die each year because of road traffic accidents, which also lead to considerable economic loss at macro as well as micro level. For instance, the WHO has been promoting safe system campaign with a mission to create awareness about road safety measures. In addition to various international organization (such as WHO), governments of various countries are also promoting and implementing laws and regulations to reduce road accidents. These activities involve promoting the incorporation of advanced automotive radar systems in vehicles. The radar systems facilitate advanced cruise control, collision warning, and lane change assistance; the systems also help drivers in getting alerts about the unseen incidents.
Based on range, the short range radar segment is expected to lead the market throughout the forecast period. By frequency, 24 GHz is expected to dominate the market in 2019; however, the 77 GHz is anticipated to attain the highest market share by frequency by 2027. By Application, the adaptive cruise control segment is anticipated to dominate the market by 2027. The passenger cars segment is expected to hold over 70% of the market share based on vehicle type from 2019 to 2027.
A few major primary and secondary sources referred to for preparing this report on the automotive radar market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are MEA automotive radar market. Aptiv Plc; Continental AG; Denso Corporation; HELLA KGaA Hueck & Co.; Robert Bosch GmbH; Valeo; ZF Friedrichshafen AG.
The Middle East & Africa Automotive Radar Market is valued at US$ 207.3 Million in 2019, it is projected to reach US$ 499.4 Million by 2027.
As per our report Middle East & Africa Automotive Radar Market, the market size is valued at US$ 207.3 Million in 2019, projecting it to reach US$ 499.4 Million by 2027. This translates to a CAGR of approximately 15.5% during the forecast period.
The Middle East & Africa Automotive Radar Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Automotive Radar Market report:
The Middle East & Africa Automotive Radar Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Automotive Radar Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Automotive Radar Market value chain can benefit from the information contained in a comprehensive market report.
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