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The automotive safety features are becoming more advanced, reliable, and innovative over the period. But there are many vehicles on the road with a low level of design for the seats and head restraints causing major fatalities during the collision. According to data provided by EuroNCAP, about two million whiplash injuries occurs on the European roads per year. Majorly the whiplash injury occurs during the rear-end collision of the vehicles. European carmakers are making significant improvements in the safety of cars. EuroNCAP assessments are making automobile manufacturers improvise and install passive safety systems for every occupant in the vehicle. The increasing technological advancements in automotive passive safety systems such as knee airbags, inflatable seatbelts, and intelligent seatbelts are also expected to drive the automotive passive safety system market over the forecast period.
Key Market Driver -
The increased safety awareness and technological advancements is expected to drive the market.
Key Market Restraint -
The high installation and replacement cost of the passive safety system is expected to restrain the market’s growth.
The increasing awareness among consumers regarding safety is also expected to drive the market over the forecast period. Customers increasing expenditure towards the safety features in the vehicles has also led to the generation of numerous opportunities for the market players. Also, many automobile manufacturers are considering the installation of the passive safety system in the vehicle owing to growing stringent government safety regulations. The high installation and replacement cost of the passive safety system is expected to restrain the growth of the market.
The major players that are present in the global automotive passive safety system market include Continental AG, ZF Friedrichshafen, Denso Corporation, Autoliv, Joyson Electronics, among others.
Globally, the automotive passive safety system market has been segmented based on the type, vehicle type, and region. Based on the type, the further market has been segmented into the airbag, seatbelts, occupant sensing system, passive safety, child safety systems, and pedestrian safety system. The seatbelt type segment accounts for the largest market share and is also expected to dominate the market over the forecast period. The seatbelts are majorly used in passenger cars and commercial vehicles. The airbag segment is also expected to show exponential growth in the market over the forecast period owing to the rising installation of the airbag in vehicles by automakers. The pedestrian safety system segment is also expected to show good growth in the market owing to stringent regulations implemented by governments for the pedestrian and occupant safety. The child safety system segment is also expected to show good growth in the market. The occupant sensing system is also expected to show steady growth in the market over the forecast period owing to the increasing adoption of advanced safety features in the vehicles.
Based on vehicle type, further, the automotive passive safety system market has been segmented into passenger cars and commercial vehicles. The passenger car segment accounts for the largest share in the automotive passive safety system market and is also anticipated to dominate the market over the forecast period. The growing sales and production of passenger cars in developing countries is expected to drive the segment’s growth in this market. The increasing adoption of the safety features within the passenger cars owing to stringent government safety regulations is also likely to drive the growth of this segment in the market. The commercial vehicle segment is also expected to show good growth in this market over the forecast period.
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Geographically, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW). Europe is anticipated to dominate the automotive passive safety system market over the forecast period. The stringent government safety regulations in this region are making mandatory to install passive safety features along with active safety in the vehicles. North America is also expected to show good growth in the automotive passive safety system market over the forecast period. The government stringent safety regulations by the National Highway Traffic Safety Administration (NHTSA) in this region is expected to drive the market’s growth in this region. Asia Pacific is also expected to show good growth in the market over the forecast period owing to factors such as the increasing demand for passenger cars with advanced safety features from the developing countries such as China and India.
By Vehicle Type
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