Driven by Rising consumers’ preferences for high safety features in the vehicles, Automotive Passive Safety System Market is expected to grow beyond US$ 27.9 billion

Market & Growth Prognosis: Analyzing the market over a period of 2011-16 Stratview Research goes to the crux of the issues shaping the market and estimates the most probable future growth rate for the Automotive Passive Safety System Market during the period 2017-22.

Stratview Research triangulates the market to grow at a healthy CAGR of 3.7% over the next five years and expects the market to breach the barrier of US$ 27.9 billion by 2022.

The Diverse Stand Points

The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Passive Safety System has been viewing from various perspectives such as:

Dissection By (Segments)
1. Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy-Duty Commercial Vehicle)
2. Application Type (Airbag, Seat Belt, Steering Wheel, Electronic Control Unit, Other Passive Safety Systems)
3. End-Use Type (OEM, Aftermarket)
4. By Region (North America, Europe, Asia-Pacific and Rest of the World)

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?
● Which material is the most promising?
● 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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The Factors Driving the market

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 rise of Airbag

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.

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.

OEM’s market is likely to remain the largest end-use type during the forecast period and is expected to experience a higher growth rate over the next five years, driven by an increasing automotive passenger cars and commercial vehicles across regions.

Driven by demand, Asia-Pacific has the hegemony over the market

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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