The global demand for Automotive Ultrasonic Technologies Market is presumed to reach the market size of nearly USD 4.57 BN by 2030 from USD 2.27 BN in 2022 with a CAGR of 9.12% under the study period 2023 - 2030.
Ultrasonic technology plays a crucial role in the manufacturing of automotive. There are various internal and external vehicle parts and spots that are welded and riveted using ultrasonic. Ultrasonics technology is commonly used for welding of air pipes & internal lighting components, punching for parking sensors, seat belts guillotine cutting, shearing and welding, hearing of door panels and bumpers, welding of the air ducts, guillotine cutting, cutting and shearing of airbags, welding and cutting of safety belts, and ultrasonic punching of various parts.
Market Dynamics
Increasing vehicle production, growing per capita disposable income levels and spending capacity, rising parking concerns associated to parking worldwide, and surging need to ensure safety collectively drive demand for automotive ultrasonic technologies. Increased investments in building driverless vehicles and technological advancements in advanced driver assistance systems (ADAS) is creating new opportunities in the coming years. Key companies are incorporating various strategies such as agreements and expansions to continue the development of advanced technologies and cope up with the shifting needs of industry. However, economic slowdown is impeding the market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of automotive ultrasonic technologies. The growth and trends of automotive ultrasonic technologies industry provide a holistic approach to this study.
Market Segmentation
This section of the automotive ultrasonic technologies market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Proximity Detection
- Range Measurement
By Application
- Park Assist
- Blind Spot Detection
- Others
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicles
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Automotive Ultrasonic Technologies market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Automotive Ultrasonic Technologies Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive ultrasonic technologies market include Aisin Corporation, Continental AG, Denso, Hyundai Mobis co. ltd., Magna International, Murata Manufacturing co. ltd., Robert Bosch GMBH, TDK corp., Elmos Semiconductor SE and Valeo SA. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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