Press release
Automotive Safety Systems Industry Outlook 2025-2029: Market Set to Cross $193.73 Billion Milestone
Automotive Safety Systems Market Growth
How Large Will the Automotive Safety Systems Market Size By 2025?
In recent times, there has been a significant increase in the size of the automotive safety systems market. The market, which was valued at $124.7 billion in 2024, is projected to reach $134.68 billion in 2025 with a compound annual growth rate (CAGR) of 8.0%. The expansion observed in the historical period can be tied to factors such as crashworthiness standards, enforcement of traffic laws and regulation, public campaigns on the significance of safety, and the increase in urbanization.
How Big Is the Automotive Safety Systems Market Size Expected to Grow by 2029?
In the upcoming years, the automotive safety systems market is anticipated to witness robust expansion, with predictions set at a figure of $193.73 billion by 2029, reflecting a compound annual growth rate (CAGR) of 9.5%. Factors contributing to this projected growth during the forecast period include the rising acceptance of advanced driver assistance systems (ADAS), the incorporation of vehicle-to-everything (v2x) communication for immediate safety alerts, increased development and acceptance of self-driving vehicles, the adoption of intelligent infrastructure and traffic control systems, and an intensified focus on sustainability and ecological friendliness. Key trends expected to be seen throughout this period are the use of data analytics for forecasting possible road safety matters, the vision zero initiative, partnerships among different stakeholders, the invention of connected and smart crosswalks for pedestrian safety, and greater emphasis on active transportation.
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Which Key Market Drivers Powering Automotive Safety Systems Market Expansion and Growth?
The forecast period is anticipated to see automotive safety systems increasingly strained due to a growing demand for electric vehicles. Safety features such as adaptive cruise control (ACC), blind spot warning, auto braking, lane assist, etc. are necessary for these electric vehicles, leading to a drive in the market. To illustrate, the International Energy Agency, a France-based intergovernmental organization, reported electric vehicle sales of 10 million in 2022, and projected a surge to 14 million sales in 2023. Therefore, the escalating demand for electric vehicles is likely to stimulate further demand for automotive safety systems, propelling the market during this period.
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Which Fast-Growing Trends Are Poised to Disrupt the Automotive Safety Systems Market?
Emerging technological advancements are a prominent trend gaining traction in the automotive safety systems sector. The automotive field is progressively channeling its efforts towards incorporating smarter and safer safety mechanisms into vehicles to enhance protection in various terrains and circumstances. For example, in January 2022, Volvo Vehicles, a truck manufacturer based in Sweden, unveiled Active Grip Control, a distinctive safety element for electric trucks. This novel technology substantially enhances acceleration, stability, and braking in slick conditions. The added safety feature also minimizes the possibility of oversteering and jackknifing when driving without a load.
What Are the Emerging Segments in the Automotive Safety Systems Market?
The automotive safety systems market covered in this report is segmented -
1) By Type: Active Safety System, Passive Safety System
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By End User: OEM, After market
Subsegments:
1) By Active Safety System: Advanced Driver Assistance Systems (ADAS), Automatic Emergency Braking (AEB), Electronic Stability Control (ESC), Lane Departure Warning (LDW), Adaptive Cruise Control (ACC), Collision Avoidance Systems, Blind Spot Detection (BSD), Parking Assistance Systems
2) By Passive Safety System: Airbags, Seatbelts, Crash Sensors, Structural Reinforcements, Safety Cage Or Body Structure, Child Safety Seats, Whiplash Protection Systems
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Who Are the Global Leaders in the Automotive Safety Systems Market?
Major companies operating in the automotive safety systems market include Autoliv Inc., Continental AG, Nippon Denso Co. Ltd., ZF Friedrichshafen AG, Valeo SA, Mobileye Global Inc., Robert Bosch GmbH, Infineon Technologies AG, Knorr-Bremse AG, Nihon Plast Co. Ltd., Toyoda Gosei Co. Ltd., Delphi Automotive plc, Magna International Inc., Takata Corporation, Grammer AG, Lear Corporation, Johnson Controls International, Toyota Boshoku Corp, Hella KGaA Hueck & Co, Bendix Commercial Vehicle Systems LLC, WABCO Vehicle Control System, Ford Motor Company, Joyson Safety Systems, Aptiv plc, Hyundai Precision & Industries Corporation, Aisin Seiki Co. Ltd., Jinzhou Jinheng Automotive Safety System Co. Ltd., Ashimori Industry Co. Ltd., Mando Corporation, Adient plc
Which are the Top Profitable Regional Markets for the Automotive Safety Systems Industry?
North America will be the largest region in the automotive safety systems market in 2024.Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive safety systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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