Car Safety Market Analysis 2024-2030: From USD 131.62 Billion to USD 240.92 Billion

Car Safety Market Overview

Car safety is a characteristic that serves to lessen the likelihood of an accident or the impact of an accident on the vehicle's occupants. Accident rates have gone up as a result of the growing desire for fast cars. As a result, there is a noticeable increase in demand for cars to incorporate safety features. Blind spot detection, lane keep assist, and an antiroll brake system are a few of the safety features.

Market Growth Estimate:

The Global Car Safety Market size was valued at USD 131.62 Billion in 2023 and the total Car Safety Market size is expected to grow at a CAGR of 9.02 % from 2023 to 2030, reaching nearly USD 240.92 Billion in 2030.

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Car Safety Market Scope and Methodology:

The market research report Car Safety market offers thorough information on significant aspects, such as those that are expected to propel the industry's growth and upcoming challenges. The competitive landscape of the business, the goods promoted by well-known brands, and the investment possibilities in the Car Safety market will all be clearly understood by stakeholders. The study looks at both the qualitative and quantitative components of the industry. An exhaustive examination of the competitors in the Car Safety market is one of the things the MMR probe looks into.

Market Dynamics for Auto Safety:

An increase in traffic accidents

The market for car safety systems is predicted to rise as a result of an increase in traffic accidents. Road accidents are events that happen when automobiles-such as cars, trucks, motorcycles, bicycles, or pedestrians-collision with one other or with objects on the road, resulting in property damage and human casualties. Car safety systems use sensors to identify pedestrians and bicycles in the vicinity of the vehicle and issue alerts to drivers in an effort to avert accidents.

Growing Interest in Electric Vehicles

Throughout the projected period, the market for automobile safety is anticipated to increase significantly because to the rising demand for electric vehicles. Safety features that propel the market for electric vehicles include adaptive cruise control (ACC), blind spot warning, auto braking, and lane assist. Because electric platforms have a lower center of gravity than other platforms, which increases structural gravity, electric vehicle makers are taking advantage of these unique qualities to improve vehicle safety. As the automobile industry continues to innovate, buyers are becoming more prepared to spend more on the newest innovations that improve driving quality and raise the safety of both drivers and passengers.

Car Safety Market Segmentation

by System Type

Active Safety
Passive Safety

According to System Type Active, the Car Safety Market in 2023 will have the biggest market share, or roughly 47.5%. The segment is predicted by the MMR analysis to develop at a compound annual growth rate (CAGR) of 9.02% during the forecast period and to continue dominating the market until 2030. Because they help drivers avoid possible hazards, active safety systems are widely employed to prevent accidents. They come equipped with functions like blind-spot monitoring, adaptive cruise control, lane departure warning, and automated emergency braking.

by Vehicle Type

Passenger Cars
Commercial Vehicles

by End Users

OEM
Aftermarket

In the car safety industry, the OEM category has the biggest market share in 2023 and is predicted to continue to dominate through 2030, according to end users. Original equipment manufacturer (OEM) safety features are those that are incorporated into cars by the manufacturer during the manufacturing process. These consist of common safety features including electronic stability control (ESC), traction control, airbags, and anti-lock braking systems (ABS). OEMs are in charge of ensuring that their vehicles adhere to all safety standards. Standardizing safety features ensures compliance and helps to prevent future problems. Safety accessories added to or placed in vehicles after they have been produced are known as aftermarket accessories.

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Car Safety Market Regional Insights

Understanding the complex dynamics of the Car Safety market requires a thorough grasp of regional perspectives. North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa make up the many regions that make up the Car Safety market. The research provides a thorough analysis of the variables, market size, growth rate, and import and export activity in each region. The Car Safety market's current state in each of the report's listed countries is shown in the Regional Analysis section.

Car Safety Market Key Players

North America:
1) Magna International Inc. (Canada)
2) General Motors Company (United States)
3) Stellantis (Netherlands)
4) Aptiv PLC (Ireland)

Europe:
1) Robert Bosch GmbH (Germany)
2) Autoliv Inc. (SWEDEN)
3) ZF Friedrichshafen AG (Germany)
4) Continental AG (Germany)
5) Infineon (Germany)
6) Delphi Automotive PLC (U.K.)
7) Volkswagen Group (Germany)
8) Valeo SA (France)
9) Schaeffler AG (Germany)
10) Veoneer, Inc. (Sweden)
11) Hyundai Mobis (South Korea)
12) Hyundai Motor Group (South Korea)

Asia Pacific Region:
1) Denso Corporation (Japan)
2) Toyoda Gosei Co. Ltd. (Japan)
3) Toyota Motor Corporation (Japan
4) Tata Motors (India)
5) Toyota Boshoku Corp.(Japan)
6) Mitsubishi Electric Corp.(Japan)

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Key questions answered in the Car Safety Market are:

What is Car Safety?
What was the Car Safety market size in 2023?
What will be the CAGR at which the Car Safety market will grow?
What is the growth rate of the Car Safety Market?
Which are the factors expected to drive the Car Safety market growth?
What are the different segments of the Car Safety Market?
What growth strategies are the players considering to increase their presence in Car Safety?
What are the upcoming industry applications and trends for the Car Safety Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Car Safety Market?
Who are the leading companies and what are their portfolios in Car Safety Market?
What segments are covered in the Car Safety Market?
Key Offerings:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment |
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
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