Automotive Safety Systems Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
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.

Sizing and Forecast
The automotive safety systems market size has grown strongly in recent years. It will grow from $116.6 billion in 2023 to $127.37 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to crashworthiness standards, implementation of traffic laws and regulations, public awareness campaigns on the importance of safety, growth in urbanization,
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The automotive safety systems market size is expected to see strong growth in the next few years. It will grow to $177.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to surge in adoption of advanced driver assistance systems (adas), integration of vehicle-to-everything (v2x) communication for real-time safety alerts, growth in the development and adoption of autonomous vehicles, adoption of smart infrastructure and traffic management systems, increasing focus on sustainable and eco-friendly. Major trends in the forecast period include use of data analytics for predictive analysis of potential road safety issues, vision zero movement, collaboration between different stakeholders, development of connected and intelligent crosswalks for pedestrian safety, active transportation.

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Segmentation & Regional Insights
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

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

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Major Driver Impacting Market Growth
The increasing demand for electric vehicles is expected to put pressure on automotive safety systems during the forecast period. Electric vehicles require safety features such as adaptive cruise control (ACC), blind spot warning, auto braking, lane assist, and others, which drive the market. For instance, in July 2023, according to the International Energy Agency, a France-based intergovernmental organization, sales of electric vehicles were 10 million in 2022, and there will be an increase to 14 million sales of electric vehicles in 2023. Hence, the growing demand for electric vehicles is expected to generate more demand for automotive safety systems, thus driving the market during the period.

Key Industry Players
Major companies operating in the automotive safety systems market report are 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

The automotive safety systems market report table of contents includes:

1. Executive Summary

2. Automotive Safety Systems Market Characteristics

3. Automotive Safety Systems Market Trends And Strategies

4. Automotive Safety Systems Market – Macro Economic Scenario

5. Global Automotive Safety Systems Market Size and Growth

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31. Global Automotive Safety Systems Market Competitive Benchmarking

32. Global Automotive Safety Systems Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Automotive Safety Systems Market

34. Automotive Safety Systems Market Future Outlook and Potential Analysis

35. Appendix