Automotive Ultrasonic Radar Market Research Report for 2022 H1

This report aims to evaluate the market of Automotive Ultrasonic Radar, the scope of study covers the passenger vehicles’ ultrasonic radars only, which means the ultrasonic radar that were installed in commercial vehicles were not accounted. ICV segmented the Automotive Ultrasonic Radar market by type, automation level of passenger vehicle, and geography, then conducted research and analysis for each of segment market, to offer their current market size and future market size forecasts.

As one of main automobile sensors for driving assistance, ultrasonic radar has features of simple-structure and low-cost. At the same time, ultrasonic radar also has the highest penetration rate among the automobile driving assistance sensors, generally they are applied to the parking assistance system.

There are two types of ultrasonic radar, one is named Ultrasonic Parking Assistance (UPA) sensor which is usually installed at the front and rear bumpers of the vehicle; another named Automatic Parking Assistance (APA) sensor, they are installed on the side of the vehicles. UPA sensor is used to detect the obstacles that located at front and rear of the vehicle. As the name suggests, APA sensor is responsible for detecting and measuring the distance between the vehicle and the possible parking spaces, to help the automation driving system complete the fully automatic parking task.

For the first half of 2022, the Automotive Ultrasonic Radar market was worth of $2.04 billion, UPA sensor accounts for 84% with a penetration rate of more than 90%. Because of the small number of vehicles that were equipped with fully automatic parking system, the market size of APA sensor just reached $323 million, and the penetration rate of APA sensor still has large room to increase.

ICV’s analysts believe that, although the functionalities of the ultrasonic radar are not completely non-substitutable, the proven technology and low cost of ultrasonic radar still make them be competitive at the present stage of the driving automation. The market of UPA sensor is expected to reach $3.715 billion in 2023, with a CAGR of 5.8% for the future five years. The market of APA sensor with a CAGR of 18.6% over next five years is estimated to have a higher growth rate than market of UPA sensor. The main reason could be the increasing demand on fully automatic parking system will drive up the demand on APA sensor.

According to the automation level of passenger vehicle, ICV performed the analysis for the market size of ultrasonic radar that were installed in vehicles with different automation levels. The vehicles in L0 and L1 usually don’t equip the fully automatic parking system, so that this report just counted the sales of UPA sensors for these two levels. For the first half of 2022, the highest sales were generated from the ultrasonic radar installed in L2/L2+ vehicles, and ICV forecasted that it will remain this for the future five years.

ICV segmented the global market into five areas: China, Europe, America, Asia & Oceania & Middle East (AOME), and Africa. As the big consumer of automobile market, China took 40% of the global market of automotive ultrasonic radar, followed by Europe, which contributed sales of $530 million. Asia & Oceania & Middle East ranked third with sales of $400 million for the first half of 2022. The sales of America and Africa were $250 million and $56 million respectively. During the next five years, ICV predicted that the share of each of five areas would have few changes. The growth rates of Chinese market and American market are higher than others, while the African market has the lowest growth rate.

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