Automotive Whiplash Protection System Market Research Report - Global Forecast t
Posted by Market Research Future on March 13th, 2020
Heavy demand for automobiles equipped with effective safety measures, is identified as the principal cause for the global automotive whiplash protection system market expansion, states Market Research Future (MRFR). MRFR reveals that the market is likely to expand at a 12.10% CAGR through the forecast period (2017-2023).
Volvo, a Swedish multinational manufacturer of trucks and buses, claimed to share their 60 years knowledge of automobile safety. Volvo discovered that women are more at risk of whiplash than men. This inspired the design for its robust Whiplash Protection System (WHIPS).
Automobile producers incorporating advanced safety measures in their products is likely to gain traction for the global automotive whiplash protection system market. The growing traffic congestion requires effective safeguard for the drivers, as high rate of speed fluctuations are observed therein. This is noted to be another factor that is likely to gain momentum for the global market. Furthermore, increase in the production of luxury cars, strict on-road safety norms, and the presence of high-cash key players are additional factors that can promote the growth of the global market. However, high pricing cost for such adavanced technology is likely to slow down the market growth. But, the need for safety measures is expected to gain traction for the market.
The global automotive whiplash protection market has been segmented on the basis of type and vehicle type. By type, the global market has been segmented into backrest, headrest, and others. Whiplash protection equipment are gaining recognition among end-users as the awareness about the same is noted to grow. This, in turn, is likely to contribute to the expansion of the market. However, the headset segment is expected to register a high CAGR over the assessment period. On the basis of vehicle type, the global market has been segmented into passenger vehicle and commercial vehicle. The hike in per capita income of people is boosting sales of commercial vehicles. Alongside, the growing world population is escalating the passenger vehicles sales number. It is noted that the passenger segment is set to hold the largest share of the global market through the review period.
By region, the automotive whiplash protection system market has been analyzed across Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW).
On-road safety is a major concern in North America. Besides, traffic rules in the region are rendered strict. These are two important boosters for the North America market growth. Other factors like the growing inclination of people towards luxury vehicles, escalation in the number of new car registration, and hike in per capita income of people are expected to surge the regional market growth in the foreseeable future. Hence, owing to these drivers, MRFR asserts that the North America market is likely to attain the largest share of the global automotive whiplash market.
Europe to secure the second position, by region, in the global automotive whiplash protection market. The hefty investment made in research and development, for the production of automobiles empowered with greater safety measures, is likely to generate considerable revenue for the regional market. Moreover, the expanding automobile industry and stringent rules of the government in Europe, are factors that are expected to boost the regional market.
High sales volume of automobiles due to the surge in need for a comfortable and safe drive in the Asia Pacific region are expected to promote the regional market growth.
MRFR listed some of the well-known companies that are functional in the automotive whiplash protection system market. They are; Volvo Group (Sweden), Delphi Automotive (UK), Robert Bosch (Germany), Continental AG (Germany), Takata Corporation (Japan), Autoliv Inc. (Sweden), Grammer AG (Germany), Hyundai Mobis (South Korea), Lear Corporation (US), and others.
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Joined: March 2nd, 2020
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