The Market of Automotive Safety System to grow beyond US$ 56.1 billion by 2022
February 13, 2020
Automotive Safety System Market Overview:
The global automotive safety system market is projected to grow at a healthy CAGR of 6.7% over the next five years to reach US$ 56.1 billion in 2022, driven by increasing safety system contents per vehicle, the introduction of more stringent safety regulations, high demand for safety solutions, and an organic growth in the automobile production.
Report Overview:
This report, from Stratview Research, studies the safety systems market in the global automotive industry over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities in the market.
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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Automotive Safety System Market Segment Insights:
Passenger Car: The growth engine
The global automotive safety systems market is segmented based on vehicle type as passenger car, light commercial vehicle, and medium & heavy duty commercial vehicle. The passenger car is expected to remain the largest segment of safety systems in the global automotive industry during the forecast period of 2017 to 2022. This vehicle type is also projected to witness the fastest growth in the same period, owing to increasing penetration of safety systems, high demand for active safety systems, and an organic growth in the production of luxury cars and SUVs.
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https://www.stratviewresearch.com/toc/121/automotive-safety-system-market.html
Dominance of: Active Safety System
The global automotive safety systems market is secondly segmented based on product type as active safety systems and passive safety systems. The active safety systems market is further segmented as active cruise control, blind spot detection, drowsiness monitoring system, lane departure warning system, head-up display, night vision system, park assist, e-call telematics, tire-pressure-monitoring system, and others. Similarly, the passive safety systems market is also bifurcated into the airbag, seatbelt, steering wheel, electronic control unit, and others. Currently, passive safety system occupies the largest share in the global automotive safety systems market which is likely to be surpassed by active safety systems by 2021. An excellent growth in active safety systems market is primarily driven by increasing demand for advanced safety systems, such as tire-pressure-monitoring system and adaptive cruise control system in both developed and developing countries because of mandated government regulation and high focus on safety solutions.
A highly/moderately/fragment consolidated Market
Continental AG, Delphi Automotive Plc, Denso Corporation, Robert Bosch GMBH, Magna International Inc., Valeo, and ZF TRW Automotive are some of the major players for the global automotive active safety system market whereas Autoliv AB, Delphi Automotive, ZF TRW Automotive Holdings Corp., and Takata Corporation are in passive safety systems market. Long-term contracts and advancement in technologies are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.
Regional Hegemony of North America
The global automotive safety systems market is finally segmented based on region as North America, Europe, Asia-Pacific, and Rest of the World. North America is projected to remain the largest active safety systems market during the forecast period whereas Asia-Pacific the largest passive safety systems market in the same period. The US remains to act as the growth engine of the North American active safety systems market whereas China and India the Asia-Pacific’s passive safety systems market. Increasing production of automobiles, increasing passive safety system contents per vehicle, mainly in China and India, and the introduction of more stringent regulations are driving the demand for passive safety systems in the Asia-Pacific region. Similarly, increasing penetration of active safety systems in the North America and Europe to address stringent government regulations regarding passenger safety is likely to drive the active safety systems market in the same period.
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