China to Continue its Dominance in APAC Passenger Car Passive Safety System Market until 2025

Rising safety concerns coupled with increasing investments towards solving safety issues to boost demand for passenger car passive safety systems in APAC

According to TechSci Research report, “APAC Passenger Car Passive Safety System Market By Vehicle Type, By Demand Category, By Component, By Country, Competition, Forecast & Opportunities, 2025”, Asia Pacific passenger car passive safety system market is anticipated to projected to grow from around $ 385 million in 2020 to $ 542 million by 2025, owing to increasing safety regulations by governments in APAC region. Increasing disposable income and rising demand for technologically advanced vehicles with high end safety features such as luxury and premium cars are expected to boost demand for passenger car passive safety systems market during the forecast period.

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Asia Pacific passenger car passive safety system market can be segmented based on demand category, component, vehicle type and region. In terms of component type, the market is segmented into Airbag, Seat Belt, Fuel Shutoff Pump, and Retractable Sharing Column. In 2019, Airbag segment accounted for the largest market share, followed by the Seat Belt segment, and the trend is expected to continue in the coming years as well. Both the component segments are witnessing growth on account of increasingly stringent safety norms imposed by governments of different countries such as mandatory wearing of seatbelts for all passengers inside a car.

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In terms of vehicle types, APAC passenger car passive safety system market is segmented into Hatchback, Sedan and SUV/MPV segments. Over the next five years, Sedan and SUV/MPV segments are expected to remain the largest vehicle type segments, accounting for more than 80% of the market share during  the forecast period. In terms of demand category, OEM segment dominates the market with a small part of the market accounted for by the replacement segment.

Autoliv, Robert Bosch, Delphi Automotive, Denso Corporation, Continental, Hyundai Mobis, Takata Corporation, Hyosung, and Tyoda Gosei are some of the leading players operating in Asia Pacific passenger car passive safety system market. “China dominated Asia Pacific passenger car passive safety system market in 2019, due to its large fleet of luxury passenger cars equipped with several passive safety systems and early adoption of advanced technologies. The demand for passive safety system is anticipated to increase in India as well in the coming years, on account of increasing safety concerns, several imposed regulations on passive safety systems, growing consumers concerns related to safety and choice of buying luxury and premium cars equipped with advanced safety technologies.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“APAC Passenger Car Passive Safety System Market By Vehicle Type, By Demand Category, By Component, By Country, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of passenger car passive safety system market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Asia Pacific Passenger Car Passive Safety System Market.

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