Stratview Research has recently added a new report titled ‘Automotive Passive Safety System Market’ to its collection. The report studies vital factors about the market that are essential for existing players as well as new market entrants. The report throws light on critical elements such as market share, profitability, supply chain, production, sales, upcoming technologies, key market players, regional segmentation, and many more aspects related to the Automotive Passive Safety System Market.
Market Highlights
The automotive passive safety system market is projected to grow at a sustainable CAGR of 3.7% over the next five years to reach US$ 27.9 billion in 2022.
The automotive passive safety system market is driven by several factors, including:
Rising consumers’ preferences for high-safety features in vehicles.The introduction of more stringent safety standards by the governments of many countries.Increasing penetration of curtain and knee airbags, especially in developing economies.Organic growth of automotive production.Advancement in technology.The key players covered in this report are –
Denso CorporationBosch LimitedTokai Rika Co. Ltd.Key Safety SystemsHyundai Mobis Co. Ltd.Toyoda Gosei.Segment-wise analysis
The automotive passive safety system market is segmented based on vehicle type: Passenger Car, Light Commercial Vehicles, and Medium & Heavy-Duty Commercial vehicles. Passenger car are expected to remain the largest vehicle type in the market over the next five years. The vehicle type is also projected to witness the fastest growth during the same period, owing to increasing penetration of passive safety systems, such as airbags and seat belts, and increasing production of vehicles in the Asia-Pacific region, mainly in Japan, China, and India.
By Application Type
The airbag is forecasted to remain the largest application type in the market over the next five years, driven by increasing penetration of curtain and knee airbags in developing economies, such as China, the introduction of more stringent safety norms, and organic growth in automotive production. All application types, airbags, seat belts, electronic control units, steering wheels, and other passive safety systems are projected to grow at a healthy rate during the same period.
By End-User Type
OEM’s market is likely to remain the largest end-use type during the forecast period and is expected to experience a higher growth rate over the next five years, driven by an increasing number of automotive passenger cars and commercial vehicles across regions.
Regional Insights
In terms of region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific has been the largest market for passive safety systems in the automotive industry, with China, Japan, South Korea, and India being the major markets. China and India are the growth engines of the Asia-Pacific market, due to an incessant increase in the demand for vehicles and the introduction of stringent safety standards. The RoW is expected to register the highest growth during the forecast period, driven by upcoming assembly plants in the Middle East and Latin America, and increasing passive safety system penetration per car.
The main steps in the investigation process are:
Stratview Research has gathered the raw data from industry experts and direct research analysts using primary and secondary sources.The experts also classify the information obtained by qualitative and quantitative data to place it in a proper way to make final conclusions.This report also provides market intelligence and throws light on critical insights into the market dynamics.The information gathered in the report enables strategic decision making for the existing players as well as those willing to enter the market. The report contains growth drivers and constraints, market trend and forecast analysis, market segment trend, competitive landscape and dynamics, attractive market segments and associated growth opportunities, etc.
About Stratview Research
Stratview Research is a global market research firm with capabilities of providing complex market reports and other consulting services. Along with market reports, the firm also provides custom research services across the sectors covering industries like Energy Chemicals, Advanced Materials, Automotive, and Aerospace, and more.
In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
Sign in to leave a comment.