ID: MRFR/AM/3289-HCR | 100 Pages | Published By Swapnil Palwe on April 2023
The automotive whiplash protection system market has seen a remarkable growth in the global market and it has been observed that, its demand in the future is expected to grow at 7.2% CAGR
The automotive whiplash protection system market has seen a remarkable growth in the global market and it has been observed that, its demand in the future is expected to grow USD 2,600 million at a CAGR 7.2% during the forecast period. Automotive whiplash protection system is one of the most essential vehicle parts, which is being given a lot of attention by major vehicle manufacturers. Automotive industry has become one of the major revenue generating industries, and has several technological developments in the last few years where, automotive whiplash protection system being one of them.
Automotive safety has become a major concern for both users and automotive manufacturers. Safety systems such as seat belt and airbags have procured and evolved at a rapid pace during the past few years. Recently, whiplash protection systems have witnessed high demand from a large number of vehicles users. Whiplash protection system is an arrangement that protects the driver against automotive whiplash injuries. This system was first developed by Volvo in 1998, and only after a few years, many other automotive manufacturers started installing the same into their vehicles. This market has majorly been benefitting by factors such as rising awareness regarding road accidents, strict government regulations and policies on road safety, growing sales of passenger cars, and technological advancements. Also, the major opportunity for market growth is the shift of global automotive companies to the emerging economies, and the rising demand for high end vehicles. However, the major challenge for automotive whiplash protection system market is higher installation cost, and expensive cost of raw materials. These factors may to slow down the growth of the market.
The global automotive whiplash protection system market segments has been divided into type, vehicles type and region. On the basis of type, the market has been segmented as headrest, backrest and others. The headrest segment is expected to dominate the global market by type in 2016 in terms of market revenue. On the basis of vehicle type, the market has been segmented as passenger vehicles and commercial vehicles. Among them, passenger vehicles have accounted for the highest market share in 2016 in terms of revenue. The strict government regulations and policies on road safety and the rising awareness regarding road safety, have been major growing factors, which increase the demand for automotive whiplash protection system in passenger cars.
Geographically, the global automotive whiplash protection system market has been divided as North America, Europe, Asia Pacific and Rest of the World. Among these regions, North America has dominated the global market due to factors such as strict regulations on road safety, rising disposable income and growing new vehicle registration. Europe is the second leading region in terms of revenue. Asia Pacific has emerged as the fastest growing economy. During the last few years, APAC has sold the highest number of vehicles, where China, Japan and Indonesia’s contribute much significantly. Moreover, the growing demand for passenger vehicles has become a major driving factor for APAC region.
The prominent players in the automotive whiplash protection system market include Robert Bosch (Germany), Delphi Automotive (UK), Hyundai Mobis (South Korea), Continental AG (Germany), Grammer AG (Germany), Autoliv Inc.(Sweden), Lear Corporation (US), Takata Corporation (Japan), Volvo Group (Sweden) and others.
The report for Global Automotive Whiplash Protection System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030 : USD 2,600 Million|
|CAGR||7.2% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By End Market, By Application, By Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Robert Bosch (Germany), Delphi Automotive (UK), Hyundai Mobis (South Korea), Continental AG (Germany), Grammer AG (Germany), Autoliv Inc.(Sweden), Lear Corporation (US), Takata Corporation (Japan), Volvo Group (Sweden)|
|Key Market Opportunities||Technological advancements|
|Key Market Drivers||
In the coming years, the market expansion can take place at a rate of 7.2%.
The expected 2,600 Million USD market value by 2030 can be enormous, given the rising disposable income, and the soaring demand for high-end cars across the globe.
Some of the renowned players in the global AWPS market are Hyundai Mobis (South Korea), Robert Bosch (Germany), Autoliv Inc. (Sweden), Takata Corporation (Japan), Continental AG (Germany), Grammer AG (Germany), Lear Corporation (US), Delphi Automotive (UK), Volvo Group (Sweden), and others.
APAC is the fastest growing region, according to MRFR.
Stringent regulations pertaining to road safety, high disposable income and increasing new vehicle registration ensure North America’s reign over the global market.