Child Safety Seat Market Is Expected To Attain A Market Value Of USD 6,254.5 Million By The End Of 2027 By Registering A CAGR Of 5.03% Across The Globe

The global child safety seat market reached USD 4,056.4 Million in 2018 and is expected to attain a market value of USD 6,254.5 Million by the end of 2027 by registering a CAGR of 5.03% across the globe. Increasing number of fatal car accidents across the globe is fuelling the global child safety seat market. Growing birth rate, especially in countries like India is expected to drive the market in the upcoming years. Rising awareness about child safety in developing countries, increasing spending on passenger cars are amongst the few factors propelling the growth in global child safety seat market.

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Leading Players:

Artsana Group, Britax Child Safety Inc. , Diono LLC and Dorel Juvenile Group are some of the leading players in the global child safety seat market.

On the other hand, global sales of child safety seat reached 29,531 Thousand Units in 2018 and is expected to increase to 45,773 Thousand Units by the end of 2027. Rising disposable income among households especially in developing countries like China and India has stimulated the rise in consumer spending on child safety seat. This in turn is expected to strengthen the demand for child safety seat market over the forecast period.

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North America region is expected to account for 38.15% of the global market value in 2027. Introduction of new features such as an anti-rebound bars to keep the seat steady in case of collision and energy absorbing foam layers is attracting buyers in the region which in turn is expected to fuel the growth of the child safety seat market during the forecast period.
Based on product, Infant car seat segment is expected to contribute largest share in the global child safety seat market with an increase in the market value from USD 1,457.8 Million in 2018 to USD 2,124.0 Million in 2027. Growth in the segment is transmuted on account of increasing incorporation of safety features in child safety seat.

Based on distribution channel, online channel is expected to grow at a faster pace as compared with the offline channel with an expected increase in the market value from USD 935.6 Million in 2018 to USD 1,619.0 Million by 2027. The online channel is gaining popularity amongst the consumers on account of availability of products at lower prices as compared with brick and mortar stores and rising prevalence of smart phone users in the developing countries.

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Original Source:
https://www.marketwatch.com/press-release/child-safety-seat-market-is-expected-to-attain-a-market-value-of-usd-62545-million-by-the-end-of-2027-by-registering-a-cagr-of-503-across-the-globe-2019-11-07

This release was published on openPR.