LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global automotive passive safety system market is projected to grow at a CAGR of nearly 5% over the forecast period.
This research report titled ‘Global Automotive Passive Safety System Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The growing concern among consumers about automobile safety has resulted in an increased demand for passive safety systems. The demand for in-vehicle electronic devices, such as sensors, that are used to examine situations and help prevent accidents has increased. Stringent crash tests and NCAP ratings, which provide regulations and ratings for automobiles, also propel the market growth.
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Based on the product type, the report categorizes the global automotive passive safety system market into the following segments:
- Seat belts
- Whiplash protection system (WHIPS)
- Occupant sensing system
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The top three revenue-generating product segments in the global automotive passive safety system market are discussed below:
“Airbags are automotive safety features that are engineered to inflate at a rapid speed during an accident. They are the most popular type of passive safety systems, having held a market share of over 63% in 2016,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research.
Emergency calling (eCall), which has been mandated in several countries across the globe, is likely to influence the airbag market growth. This feature is automatically activated upon airbag deployment in the occurrence of a road crash. Such regulations, which do not directly necessitate the adoption of eCall airbags in vehicles, are bound to affect the growth of the airbag market positively.
Seat belts are an integral part of automobiles and automobile safety systems, and the market segment is anticipated to reach USD 8.53 billion by 2021. The market is anticipated to grow at a steady pace due to the stringent safety regulations and tests, increase in safety concerns among consumers, and stern regulations and fines imposed by governments and transport authorities.
The laws governing the usage of seat belts differ among regions across the globe and are bound to have an influential impact on the seat belt system. It has been observed that seat belt usage is less among rear seat passengers as compared to front seat passengers. Therefore, stricter laws are expected with respect to mandates on rear seat belts across the globe.
Whiplash protection system (WHIPS)
“Active seat head rest constitutes one of the primary lines of defense against whiplash injuries and is available for drivers as well. The global automotive whiplash protection system market is expected to register a CAGR of more than 9% during the forecast period, driven by a need to minimize whiplash injuries,” says Siddharth.
Whiplash refers to cervical-acceleration-deceleration (CAD) injuries, which are sustained in motor vehicle accidents. Nearly 15% of all insurance claims related to motor vehicle injury claims portfolio are of whiplash types. The need to prevent these injuries have resulted in the addition of optimally positioned WHIPS to mitigate whiplash injuries without affecting the passenger comfort during normal vehicular operations.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Takata Corporation
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