PUNE, India, September 3, 2018 /PRNewswire/ --
According to a new market research report "Occupant Classification System Market by Sensor (Pressure Sensor, Seat Belt Tension Sensor), Components (Airbag Control Unit, Sensors), Light-Duty Vehicle Class (Economy, Mid-Size, Luxury), EV Type, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is estimated to be USD 1.99 billion in 2018 and is projected to reach USD 3.17 billion by 2025, at a CAGR of 6.80%.
Browse 85 market data Tables and 43 Figures spread through 127 Pages and in-depth TOC on "Occupant Classification System Market"
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Factors such as increasing disposable income and increasing awareness of active and passive safety in a vehicle among end-users, increasing amount of vehicle electronics, and the adoption of advanced vehicle technologies such as connected vehicles and self-driving vehicles are expected to drive the Occupant Classification System Market. The increasing sales of mid-size and luxury vehicles in recent years, which is driven by the changing preferences of vehicle types and lifestyle of young population, is also expected to drive the OCS market. Increasing use of e-mobility in regions such as Asia Pacific, South America, and the Middle East & Africa is further expected to drive the market for occupant classification system.
Asia Pacific is expected to be the largest and fastest growing market for occupant classification system in 2025
Asia Pacific is projected to be the fastest growing market for occupant classification system from 2018 to 2025. The market growth in this region can be attributed to the increasing vehicle production and expansion of leading OEMs and automotive component suppliers. Also, Asia Pacific is projected to be the largest market for occupant classification system from 2018 to 2025. The market growth in the region can also be attributed to factors such as increasing sales of mid-size and luxury vehicles and government initiatives regarding the use of environment-friendly electric vehicles.
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Mid-size class of light-duty vehicle is estimated to hold the largest market share during the forecast period
The Occupant Classification System Market for mid-size class segment of light-duty vehicle is estimated to be the largest during the forecast period. It is followed by the luxury class. Increasing use of passive safety systems in luxury and mid-size vehicles is expected to drive the growth of OCS market. Another factor that is driving the market for mid-size class is the significant rise in the installation of modern passive safety systems for getting high NCAP ratings.
Airbag control unit is estimated to be the largest segment of Occupant Classification System Market, by component, from 2018 to 2025
The Occupant Classification System Market for airbag control unit is estimated to be the largest since it is used in most of the vehicles equipped with occupant sensing technology. Increasing production of vehicles equipped with smart airbags is likely to drive the growth of this segment.
The Occupant Classification System Market is dominated by a few globally established players such as ZF (Germany), Bosch (Germany), IEE Sensing (Luxembourg), TE Connectivity (Switzerland), and Aptiv (UK).
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