The speed limiter, also known as “governor”, is primarily utilized to control excessive speeding of the vehicle. Newly developed and compact speed limiters improves the safety of the vehicle. Different types of speed limiters include adjustable speed limiter and intelligent speed limiter. Adjustable speed limiter is a commonly used speed limiter in most cars.
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Major OEMs and manufacturers are offering more advanced systems for their cars in which the speed limiter is connected to a camera, which automatically detects the speed limit signs and functions according to those signs.
The global automotive speed limiter market can be segmented based on type, vehicle type, sales channel, and region. In terms of type, the market can be segregated into electronic speed limiter, variable speed limiter, adaptive speed limiter, and other.
The electronic speed limiter is a newly developed device that controls the fuel injection system in order to regulate the maximum driving speed limit. In variable speed limiter, the vehicle’s exact position is detected through the GPS system and the speed limit is regulated automatically from the programed data base.
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Based on vehicle type, the automotive speed limiter market can be divided into passenger vehicle, commercial vehicle, and electric vehicle. Governments are likely to make speed limiters mandatory for commercial vehicles in the near future, which in turn is anticipated to propel the automotive speed limiter market during the forecast period.
Rapid industrialization, expansion of the construction industry and the demand for electric heavy commercial vehicles are anticipated to drive the automotive speed limiter market during the forecast period. The passenger vehicle segment can be further sub-segmented into hatchback, sedan, and utility vehicle. Rise in demand for SUVs and high engine power vehicles is likely to boost the automotive speed limiter market during the forecast period.