Global Automotive Safety Systems Market - Segmented by Type, Offering, End-user Sector, Vehicle Type, and Geography - Growth, Trends, and Forecast (2022 - 2030)
Safety systems have become an integral and one of the most in-demand features of a vehicle among the consumers. Due to the rise in accidents across the globe, regulatory bodies have mandate the use of various safety features, like ABS, airbags, certain ADAS features, etc., which has forced the automakers to install such features in a vehicle.
A recent study by World Health Organization says that, over 1.25 million people die each year as a result of road traffic crashes. This created a necessity for the newly adopted 2030 Agenda for Sustainable Development and it has set an ambitious target of halving the global number of deaths and injuries from road traffic crashes by 2020. The global automotive safety market is expected to grow at a CAGR of ~ 6% during the forecast period due to the rise in demand for various safety features, like ADAS, airbags, etc.
Active Safety Is Expected To Grow the Fastest During the Forecast Period
The increase in demand for vehicles, especially passenger cars has flooded the market with various types of vehicles, increasing the risk of accident every minute. Advanced drive assistance features, like lane departure warning, adaptive cruise control, blind spot detection etc. are observed to reduce the risk of accident by warning or helping the driver before an accident occurs. This advancement has created a huge demand for such features for the consumers as vehicles with such features at reasonable costs are increasing in terms of sales at a faster rate. The increase in demand for electric vehicles and the nearing autonomous vehicles era is expected to propel the market for active safety features in the automotive industry at the highest CAGR during the forecast period.
Asia-Pacific Is Expected To Dominate the Market
Asia Pacific occupies the highest share in terms of vehicle sales with more than 50% and is expected to grow even more during the forecast period. The rising consumer income levels, increased vehicle production in developing countries, such as India and China and increase in the number of luxury vehicles in countries, such as Japan fuel the growth of the automotive safety system market in the Asia-Pacific region. India has also mandated the installation of ABS in all vehicles including two wheelers, which is further anticipated to drive the market ahead during the forecast period.
The market is segmented into active and passive safety systems based on type; hardware and software based on offering; OEM and aftermarket based on end-user sector; and vehicle type (passenger cars and commercial vehicles). The regional analysis covers major countries in North America, Europe, Asia-Pacific, and Rest of the World.
Key Developments:
• March, 2018: ZF developed automotive industry’s lightest fabric housing knee airbag modules for enhancing the vehicle occupant safety. The company will launch the same with a major vehicle manufacturer in early 2019.
Major Players: ROBERT BOSCH GMBH, DENSO CORPORATION, DELPHI AUTOMOTIVE, MAGNA, AUTOLIV, CONTINENTAL AG, amongst others
Reasons to Purchase this Report:
• To study current and future market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Detailed analysis of the segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Report Customization and Benefits:
This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs
A recent study by World Health Organization says that, over 1.25 million people die each year as a result of road traffic crashes. This created a necessity for the newly adopted 2030 Agenda for Sustainable Development and it has set an ambitious target of halving the global number of deaths and injuries from road traffic crashes by 2020. The global automotive safety market is expected to grow at a CAGR of ~ 6% during the forecast period due to the rise in demand for various safety features, like ADAS, airbags, etc.
Active Safety Is Expected To Grow the Fastest During the Forecast Period
The increase in demand for vehicles, especially passenger cars has flooded the market with various types of vehicles, increasing the risk of accident every minute. Advanced drive assistance features, like lane departure warning, adaptive cruise control, blind spot detection etc. are observed to reduce the risk of accident by warning or helping the driver before an accident occurs. This advancement has created a huge demand for such features for the consumers as vehicles with such features at reasonable costs are increasing in terms of sales at a faster rate. The increase in demand for electric vehicles and the nearing autonomous vehicles era is expected to propel the market for active safety features in the automotive industry at the highest CAGR during the forecast period.
Asia-Pacific Is Expected To Dominate the Market
Asia Pacific occupies the highest share in terms of vehicle sales with more than 50% and is expected to grow even more during the forecast period. The rising consumer income levels, increased vehicle production in developing countries, such as India and China and increase in the number of luxury vehicles in countries, such as Japan fuel the growth of the automotive safety system market in the Asia-Pacific region. India has also mandated the installation of ABS in all vehicles including two wheelers, which is further anticipated to drive the market ahead during the forecast period.
The market is segmented into active and passive safety systems based on type; hardware and software based on offering; OEM and aftermarket based on end-user sector; and vehicle type (passenger cars and commercial vehicles). The regional analysis covers major countries in North America, Europe, Asia-Pacific, and Rest of the World.
Key Developments:
• March, 2018: ZF developed automotive industry’s lightest fabric housing knee airbag modules for enhancing the vehicle occupant safety. The company will launch the same with a major vehicle manufacturer in early 2019.
Major Players: ROBERT BOSCH GMBH, DENSO CORPORATION, DELPHI AUTOMOTIVE, MAGNA, AUTOLIV, CONTINENTAL AG, amongst others
Reasons to Purchase this Report:
• To study current and future market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Detailed analysis of the segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Report Customization and Benefits:
This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs
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