Automotive Safety Device Market Size, Share & Trends Analysis Report, By Type (Active Safety Systems and Passive Safety Systems), By Application (Passenger Vehicle, Light Truck, Heavy Truck, and Others), Forecast (2022-2028)

The global automotive safety device market is anticipated to grow at a CAGR of 5.5% during the forecast period (2022-2028). Automotive safety devices are defined as the tools designed to reduce the risk of accidents and injuries. The technology employed in such devices is a continuous development process as new device designs come up with newer features for better efficiency, reliability, and performance. Generally, passive safety systems, active safety systems, and others are the major three types of automotive safety devices available in the automotive industry. The market growth is majorly attributable to the to the stringent vehicle security norms by the governments all over the globe coupled with the advancement in passive and active safety or security technologies. Consistent advancements in technology in the last few decades have also surged the global car automotive system market.

Further, as per the Europol, in July 2020, the European Union’s law enforcement body, the Polish National Police found that car thieves had been stealing Mercedes-Benz equipped with the KEYLESS-GO system mostly in Germany, moving them to Poland, and dismantling them to sell for parts. Further, the growing concerns for passengers as well as the driver’s safety coupled with the introduction of stringent safety regulations & standards mandating the use of safety devices also augment the market growth. Motor vehicle crashes are the leading cause of work-related mortalities across all industries globally. According to the National Safety Council of US, 1,038 workers died and 25,830 were injured in the work-related road accidents. Thus, to minimize such risks, the use of such devices is likely to grow, thereby augmenting the global automotive safety device market growth.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered- 
  • By Type
  • By Application
• Regions covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape: Autoliv Inc., Continental AG, and HELLA GmbH & Co. KGaA, among

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

 

Global Automotive Safety Device Market Report by Segment

By Type

• Active Safety Systems
• Passive Safety Systems

By Application

• Passenger Vehicle
• Light Truck
• Heavy Truck
• Others

Global Automotive Safety Device Market Report by Region

North America       

• US
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific    

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East and Africa