Acumen Research and Consulting estimates that global automotive safety system market is expected to reach the market value of around US$ 170 Bn by 2027 and is anticipated to grow at a CAGR of around 9.8% in terms of revenue during the forecast period 2020 – 2027.
The safety system for the automotive industry is designed to ensure safety of the passengers of the car through minimizing sudden injuries or accidents. Such systems are split into two parts, active security and passive protection systems. An active protection device is an important way of mitigating injuries and collisions by aiding the driver in driving the car. Much of the device is aboard computer-controlled and mechanical. A passive protection feature helps to shield car riders by reducing potential injury during a crash. The passive protection devices in car automobiles are seat belts and airbags.
The report provides analysis of global Automotive Safety System market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
Increased high-speed vehicle requirements and an increasing number of young customers lead to an increase in accident rates. Several vehicles with advanced safety features, such as blind spot detection, lane support and anti-roll braking are currently being integrated.
The Safety Standard for Federal Motor Vehicles makes front seat belts mandatory on all US cars. In order to address the increasing safety concerns of occupants, automakers have begun the use of seat belt pretensioners in conjunction with seat belts. The pretensioning seat belt senses sudden deceleration before a collision and closes the seatbelt, holds the passenger firmly in its seat and allows the person to contact the deflating air bag. Seatbelts are the most widely used restraining system, and currently have a major market share. Airbags are also commonly accepted on the front and side of the vehicle for the purpose of minimizing injuries. The airbag is mandatory in North America for front passengers and drivers. Airbags are expected to improve the industry by strict policy rules for developed countries. As China is witnessing a high rate of vehicle production, the Chinese New Car Assessment Program has made it mandatory for all vehicles to have frontage airbags, with airbag demand likely to increase. Strong head restraints are used by manufacturers such as Mercedes Benz and BMW in their vehicles. The active head restraint is supplied to the head during a collision by pressurized gas or by springs to reduce the chances of a whiplash.
North America is projected to remain the largest active market for auto safety systems while Asia-Pacific, over the same time, is the primary region for passive protection systems. Although China and India remain the market for passive defense systems in the Asia Pacific, the US remains the growth driver of the North American industry for active safety systems. The demand for Asia-Pacific passive safety system is driven by increasing vehicle production, increased passive safety system content per vans, mainly in China and India, and by the introduction of stricter regulation. Likewise, increasingly active safety programs in North America and Europe are being introduced into the market of active safety systems of order to meet stringent public legislation surrounding traffic passenger safety during the same period.
The market research study on “Automotive Safety System Market (Automotive Safety System Market By Type: Active (Automatic Emergency Braking (AEB), Anti-lock Braking Systems (ABS), Electronic Stability Control (ESC), Blind Spot Detection (BSD), Tire Pressure Monitoring Systems (TPMS), Forward-collision Warning (FCW), Lane Departure Warning Systems (LDWS), Other); Passive, Airbags, Seatbelts, Other; Automotive Safety System Market By Vehicle: Passenger Cars, Commercial Vehicles; Automotive Safety System Market By End Use: Aftermarket, OEM) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Automotive Safety System market entailing insights on its different market segments.
The global Automotive Safety System market is segmented as below:
Automotive Safety System Market By Type
Automotive Safety System Market By Vehicle
Automotive Safety System Market By End Use
Automotive Safety System Market By Geography
Middle East & Africa
Key Players and Market Situation
Participants include major global players such Autoliv Inc., Nihon Plast Co., Ltd., Toyoda Gosei Co., Ltd., Delphi Automotive Plc., Takata Corporation, ZF TRW, Grammer AG, Hyundai Mobis, Lear Corporation, Johnson Controls, Others.