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Automotive Safety Systems Market estimated to grow at 6.7% CAGR in the forecast period (2017-2022)

07-25-2019 11:38 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Stratview Research

Automotive Safety Systems Market estimated to grow at 6.7% CAGR

The report on the Automotive Safety Systems Market by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2017-2022. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Automotive Safety Systems Market is expected to inflate at impressive CAGR of 6.7% by the forecast period (2017–2022).

As per the report, the market is segmented by:
• By Vehicle Type: Passenger Car, Light Commercial Vehicle, Medium & Heavy Duty Commercial Vehicle
• By Product Type: Active Safety System, Passive Safety System
• By End User Type: OEM, Aftermarket
• By Region: North America, Europe, Asia-Pacific, Rest of the World

The Table of Contents can be gone through here:

Highlights of the Report:

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.

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.

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.

The global automotive safety systems market is thirdly segmented based on end-user type as OEM and aftermarket. OEM’s market is likely to remain the largest end-user type during the forecast period and is expected to witness a higher growth rate in the same period, driven by increasing penetration in the newly-build vehicles across regions. All major automakers have started using active safety systems into some of their vehicles. They all have been in touch with suppliers to develop low cost advanced active safety systems for their mass volume models.

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.

Key Players of the Market

The market is consolidated in nature with five major players Autoliv AB, Audi AG, BMW AG, Continental AG, Delphi Automotive holding together the major share in the market, with Asian Industry Co., Ltd being the key player.
Other important firms are Denso Corporation, Ford Motors, Key Safety Systems, Hyundai Mobis Co. Ltd, Magna International, Robert Bosch Limited, Takata Corporation, Tokai Rika Co. Ltd., Toyoda Gosei Co., Ltd., Valeo, ZF TRW Automotive Holdings Corp.

Features of the Report

The Report discusses about the working of the safety systems, the various types, and the growth of the safety systems in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

For inquiries, Contact:
Ritesh Gandecha
Stratview Research
Direct: +1-313-307-4176

400 Renaissance Center, Suite 2600, Detroit, Michigan, MI 48243 United States of America

Know more about us and our reports:
Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as aerospace & Defense, Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. The team makes sure to have a deep research about the topics so that the most useful insights can be delivered to the professionals.

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