Press release
Automotive Safety System Market Revenue Growth Defined by Heightened Product Innovation
On the basis of performance global automotive safety system market can be bifurcated into automotive airbag (frontal airbag, side airbag, knee airbag, rear curtain airbag and centre airbag), automotive seat belt (two point belts, lap belts, sash belts, three point belts, five point belts, belt in seat and six point belts) and others. During vehicle collusion 75% of drivers are ejected from the vehicle, seat belts prevents the driver from getting ejected while sudden collusion, protecting the driven from injuries or death.
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Increasing number of deaths in road accident is accelerating demand for safety measures, increasing the global automotive safety system market. According to Alabama's Department of Public Safety in 2013, there were 367 traffic deaths, among which 178 deaths happened to those who were not wearing seat belts while driving. Additionally, safety regulations implied by the government agencies and increasing life expectancy is also driving the global automotive safety system market. Rising disposable income level have influence the individuals to invest more on safety features within the vehicle, further increasing the demand for automotive safety system. Also, increasing customer awareness about technological changes related to safety equipment within the vehicle may act as market drive in coming future.
Regional Outlook
North America has the largest market share for automotive safety system, followed by Europe and Asia-Pacific. The U.S and Japan are the largest market for automotive safety system globally. Asia-Pacific region is expected to witness highest growth in the forecasted period owing to increasing domestic demand for vehicle with added safety equipment within the vehicle. Emerging markets of China and India are expected to boost the Asian automotive safety system market.
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Key Players
Customer's willingness to spend more on safety equipment within the vehicle is prompting multinational companies to invest more in this market. Some of the major companies operating in the global automotive safety system market are Delphi Automotive plc, TRW Automotive Holdings Corp., Key Safety Systems Inc., Tokai Rika Co. Ltd., Toyoda, Denso Corp., Takata Corp. and Autoliv Inc.
Key points covered in the report
Report segments the market on the basis of types, application, products, technology, etc (as applicable)
The report covers geographic segmentation
North America
Europe
Asia
RoW
The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
The report provides company profiles of some of the leading companies operating in the market
The report also provides porters five forces analysis of the market.
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