The Business Research Company’s Automotive Safety Systems Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, May 12, 2022 /EINPresswire.com/ — 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 2021, electric car sales doubled to 6.6 million from 3 million in 2020. Hence, the growing demand for electric vehicles is expected to drive the automotive safety systems market growth during the period.
New technological developments are a key trend gaining popularity in the automotive safety systems market. According to the automotive safety systems market research, the automotive industry is increasingly focusing on integrating smarter and safer safety systems into vehicles for better safety in different terrains and conditions. For instance, in January 2022, Sweden-based truck manufacturer Volvo Vehicles introduced Active Grip Control, a unique safety feature for electric trucks. The new technology significantly improves acceleration, stability, and braking in slippery conditions. The new safety feature also decreases the risk of oversteering and jackknifing when driving unloaded.
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The global automotive safety systems market size is expected to grow from $96.90 billion in 2021 to $105.22 billion in 2022 at a compound annual growth rate (CAGR) of 8.59%. The growth in the market is mainly due to the companies’ resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global automotive safety system market share is expected to reach $146.50 billion in 2026 at a CAGR of 8.63%.
Major players covered in the global automotive safety systems industry are Autoliv Inc., Continental AG, ZF Friedrichshafen AG, Valeo, Mobileye, Robert Bosch GmbH, Infineon Technologies AG, Knorr-Bremse AG, Nihon Plast Co., Ltd, Toyoda Gosei Co., Ltd, Delphi Automotive Plc, Magna International, Takata Corporation, Grammer AG, Lear Corporation, Johnson Controls, Toyota Boshoku, Hella KGaA Hueck & Co., Bendix Commercial Vehicle Systems LLC, WABCO Vehicle Control System, Ford Motor Company, and Joyson Safety Systems.
TBRC’s global automotive safety systems market analysis report is segmented by type into active safety system, passive safety system, by vehicle type into passenger cars, commercial vehicles, by end-user into OEM, aftermarket.
Automotive Safety Systems Global Market Report 2022 – By Type (Active Safety System, Passive Safety System), By Vehicle Type (Passenger Cars, Commercial Vehicles), By End-User (OEM, Aftermarket) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a automotive safety systems market overview, forecast automotive safety systems market size and growth for the whole market, automotive safety systems market segments, geographies, automotive safety systems market trends, automotive safety systems market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Originally published at https://www.einpresswire.com/article/572120519/the-automotive-safety-systems-market-generates-high-revenues-with-the-increasing-demand-for-evs