Global Automotive Safety Systems Market Analysis 2024, Forecast To 2033
15 Feb, 2024
The automotive safety systems market has displayed robust growth, surging from $116.6 billion in 2023 to $127.37 billion in 2024 at a 9.2% CAGR. This growth is attributed to the implementation of crashworthiness standards, adherence to traffic laws and regulations, safety awareness campaigns, urbanization, and stringent safety standards. Projections suggest continued strength, with the market expected to reach $177.36 billion in 2028, representing an 8.6% CAGR. Factors contributing to this growth include the widespread adoption of Advanced Driver Assistance Systems (ADAS), the integration of Vehicle-to-Everything (V2X) communication for real-time safety alerts, the development and adoption of autonomous vehicles, smart infrastructure initiatives, and a growing emphasis on sustainability and eco-friendliness.
Global Automotive Safety Systems Market Key Driver
The automotive safety systems market is driven by the growing demand for electric vehicles. The International Energy Agency reports a substantial increase in electric vehicle sales, reaching 14 million in 2023. The inherent safety requirements of electric vehicles, including adaptive cruise control and lane assist, stimulate the demand for automotive safety systems.
Get A Free Sample Of The Global Automotive Safety Systems Market ReportGlobal Automotive Safety Systems Market Segments
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, Aftermarket
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America will be the largest region in the automotive safety systems market in 2023. 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
Major Automotive Safety Systems Industry Players
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
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Automotive Safety Systems Market Overview
Automotive safety systems are devices that minimize the risk of injuries, help prevent accidents and mitigate the impacts of collisions. These systems are designed to either work automatically or require drivers to activate them when desired. Common automotive safety systems include seatbelts, airbags, collapsible steering columns, occupant sensing systems, traction control, tire pressure monitors, anti-lock braking systems (ABS), lane departure warning systems (LDWS), and others.
Automotive Safety Systems Global Market Report 2023 provides data on the global automotive safety systems market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive safety systems market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.