Global Automotive Passive Safety System Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.
The Automotive Passive Safety System refers to safety equipment's that prevents the driver and passengers from getting injured by reducing the impact of the crash. These systems are designed to either work automatically or require drivers to activate them in need. The automotive Passive Safety solutions include airbags, seat belts, crumple zones, and passenger safety cells among others. The rising automotive sector worldwide and increasing incidences of road traffic injuries as well as recent collaboration from leading market players are accelerating the global market demand. For instance, According to International Energy Agency (IEA) estimates - during 2020, the worldwide sales of electric cars in 2020 were estimated at 3 million units, and it further increased to 6.6 million units in 2021. Furthermore, leading market players are working towards strategic partnerships to offer innovative products. For instance, in July 2022 Stockholm, Sweden based Autoliv, Inc., a leader in automotive safety systems, and Sweden based POC, a global leader in snow sports and cycling protection entered in a partnership to study and develop bicycle and e-bike helmets equipped with airbag technology. Also, growing number of stringent regulations from government authorities as well as rising customer inclination towards safe vehicles are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a volatile cost of raw materials impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Automotive Passive Safety System Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing number of safety regulations from government authority and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of automotive sector and increasing adoption of stringent vehicle safety norms in the region, would create lucrative growth prospects for the global Automotive Passive Safety System Market across the Asia Pacific region.
Major market players included in this report are:
Wonder Auto Technology
Key Safety Systems.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type
Electronic Control Unit
By Vehicle Type
By Sales Channel
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Automotive Passive Safety System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers