Automotive Passive Safety System Market to offer profitable growth during 2017-23 with a healthy CAGR of 3.7%
March 03, 2020
Automotive Passive Safety System Market Overview:
The global 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. Rising consumers’ preferences for high safety features in the vehicles, introduction of more stringent safety standards by the governments of many countries, increasing penetration of curtain and knee airbags, especially in the developing economies, organic growth of automotive production, and an advancement in technology are some of the major factors driving the demand for passive safety systems in the global automotive industry over the next few years.
The Diverse Stand Points:
The true picture of the market shall not emerge till the time the market is analysed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Passive Safety System has been viewed from various perspectives such as:
- By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy-Duty Commercial Vehicle)
- By Application Type (Airbag, Seat Belt, Steering Wheel, Electronic Control Unit, Other Passive Safety Systems)
- By End-Use Type (OEM, Aftermarket)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
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Automotive Passive Safety System Market Segment Insights:
Passenger Car: The growth engine
The global automotive passive safety system market is segmented based on vehicle type: Passenger Car, Light Commercial Vehicle, and Medium & Heavy Duty Commercial Vehicle. Passenger car is expected to remain the largest vehicle type in the global automotive passenger safety system 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.
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Dominance of: Airbag
Airbag is forecasted to remain the largest product type in the global automotive passive safety system market over the next five years, driven by increasing penetration of curtain and knee airbags in the developing economies, such as China, introduction of more stringent safety norms, and an organic growth in the automotive production. All product types, airbag, seat belt, electronic control unit, steering wheels, and other passive safety systems are projected to grow at a healthy rate during the same period.
A highly/moderately/fragment consolidated Market
Autoliv AB, Delphi Automotive, ZF TRW Automotive Holdings Corp., and Takata Corporation are the major companies capturing majority of share in the global automotive passive safety system market. These players are likely to remain dominant over the next five years as well. Other manufacturers include Denso Corporation, Bosch Limited, Tokai Rika Co. Ltd., Key Safety Systems, Hyundai Mobis Co. Ltd., and Toyoda Gosei. New product development, advancement in passive safety system technology, and long-term contracts with automakers are the key strategies adopted by the key players to gain a competitive edge in the market.
Regional Hegemony of Asia-Pacific
In terms of region, the automotive passive safety system market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific has been the largest market of passenger safety systems in the automotive industry, 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 introduction of stringent safety standards. 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.
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Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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