Rise in number of road accidents, high adoption rate of advanced emergency braking & collision control system, and rising demand for improved visibility as well as safety features have fueled the growth of the global automotive pedestrian protection system market
PORTLAND, Oregon, May 16, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Automotive Pedestrian Protection System Market by Type (External Airbags and Pop-Up Bonnets), Component Type (Sensors, Actuators, Control Units, and Others), Vehicle Type (SUV, Hatchback, and Sedan), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2018–2025." The report provides a detailed synopsis of the drivers, restraints, and opportunities dominating the industry. Also, it confers on top pocket investments, technology trends, segmentation, and market size & share that are currently ruling the segment. As per the report, the global automotive pedestrian protection system market was estimated at $5.13 billion in 2017 and is expected to hit $10.18 billion in 2025, growing at a CAGR of 9.1% during the study period.
Rise in number of road accidents, high adoption rate of advanced emergency braking & collision control system, and rising demand for improved visibility as well as safety features have fueled the growth of the global automotive pedestrian protection system market. On the other hand, high integration & maintenance cost and lower efficiency in bad weather conditions have restrained the growth to certain extent. However, rise in the number of passengers, increasing automotive safety norms, and growing registrations for luxury vehicles have created multiple opportunities in the segment.
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Pop-up bonnets to hold the lion's share
Based on type, the pop-up bonnets segment held the lion's share in terms of revenue in 2017, accounting for more than 99% of the total market. Factors such as reduced fatalities as well as road accidents and safety & security norms set by NCAP are expected to mount up the adoption of active hood technology during the study period.
The sensors segment to maintain its top status during the forecast period
Based on component, the sensors segment contributed to more than two-fifth of the total market in 2017 and is expected to dominate through 2025. Feature of distinguishing fixed as well as moving object, ability of penetration through fog, snow, rain, darkness, clouds and more, and determination of angular position, location, and velocity of the object have spurred the growth of the segment.
OEM segment to rule the roost
Based on distribution channel, the OEM segment held the highest share in 2017, accounting for 99% of the total market. The increase in demand for automotive safety features and components from OEM has worked as the prime factor behind the worthwhile growth of the segment.
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Europe to continue its dominance in terms of revenue by 2025-
Based on region, Europe contributed to more than two-fifth of the total market in 2017 and is expected to remain dominant throughout the forecast period. Government norms (NCAP) for automotive pedestrian safety, rapid industrialization and focus on developing newer products to meet changes in consumer demands in the region have driven the growth.
Leading Market Players-
The key market players analyzed in the research include Robert Bosch GmbH, Audi AG, Magneti Marelli SpA, Continental AG, Mobileye N.V., Autoliv, ZF Friedrichshafen AG, Nissan Motor Corporation, Valeo, and Denso Corporation. They have adopted a plethora of strategies such as group effort, partnerships, mergers & acquisitions, developments, joint ventures, and others to retain a stronghold in the industry.
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