Child Safety Seats Market Growth, Trends, Absolute Opportunity and Value Chain 2016-2026
Child Safety Seats Market: Drivers
As per the data released by China’s Ministry of Communications, nearly 20,000 children under the age of 14 die each year due to road accidents in China. This scourge is not limited to only developing countries, but also in developed countries. In United States, car accidents are the number one cause of unintentional deaths in children under 16 years of age. Also, as per the World Health Organization, proper child restraints in cars reduced the incidences of a fatal accident by nearly 70% in infants and 54% to 80% in young children. The stringent laws in the developed countries for the child safety seats, growing road safety awareness among people and an introduction of child safety seats in huge markets like China are the key drivers of child safety seats market globally. Also, growing urbanization and an increase in the use of cars are other key market drivers in the child safety seats market.
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Child Safety Seats Market: Restraints
The lack in information about how to use child safety seats, misconceptions about the child safety seats and a high price of seats in developing markets like China are the key market restraints in the child safety seats market. Besides, a lack of laws that make it compulsory to use child safety seats in countries with huge population like China and India is another restraint in the child safety seats market. A declining birth rate in the developed countries may also be a restraint in this market.
Child Safety Seats Market: Key Regions
North America is one of the key lucrative market in the child safety seats market. Stringent laws regarding child safety seats in countries like the United States and Canada along with a high rate of urbanization make them a rewarding market for child safety seats. After North America, Europe is also an important and a huge market for child safety seats. However, it is in the Asia-Pacific region, especially in countries like China where a huge growth will take place in the child safety seats market. Increased awareness about safety and a proper legislative support will make China one of the most lucrative markets for child safety seats.
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Child Safety Seats Market: Key Market Players
Recaro, Britax, Newell Rubbermaid, Chicco, Babylove, and Kiwi Baby are some of the key market players in the child safety seats market.
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