Global Automotive Passive Safety System Market – Set to reach US$ 27.9 billion in 2022

Stratview Research experts have done an extensive study of data from different sources and have analyzed them to come up with the Automotive Passive Safety System Market report. The report offers insight into the current market trend and the future estimations.
The report on Automotive Passive Safety System Market by Stratview Research, will showcase the market trend of 2011-2016 and forecast period of 2017-2022.

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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.

Autoliv AB, Delphi Automotive, ZF TRW Automotive Holdings Corp., and Takata Corporation are the major companies capturing majority of share in the global automotive passive safety system market.
These players are likely to remain dominant over the next five years as well. Other manufacturers include Denso Corporation, Bosch Limited, Tokai Rika Co. Ltd., Key Safety Systems, Hyundai Mobis Co. Ltd., and Toyoda Gosei. New product development, advancement in passive safety system technology, and long term contracts with automakers are the key strategies adopted by the key players to gain a competitive edge in the market.

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The report on Automotive Passive Safety Systems Market is explained segment-wise for a better understanding of the market trend.

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.

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.

Salient Features of the Report
The Stratview Report will offer you a detailed view the growth of the global automotive passive safety systems market and the future prospects of the market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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