Automotive Side Impact Beams to Witness Stellar Growth Rate in the Next 10 Years
Posted by researchreportinsights12 on May 27th, 2020
The COVID-19 pandemic has caused supply and manufacturing disruptions in the automotive sector creating uncertainties in every aspect. The change in customer behavior in terms of mobility preferences during this crisis is changing the automotive landscape.
This pandemic situation has shut down many production lines owing to the trade restrictions and closed borders, creating a shortage in required parts and limiting the distribution of supplies. Different enforced measures including the closing of workspaces and dismissal of short-time workers have created a depression in the growth rate of the automotive industry.
The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.
Automotive Side Impact Beams Market: Introduction
Automotive side impact beams are equipped in vehicles as a safety feature designed to protect passengers and drivers in the event of a side impact crash. When a collision takes place, automotive side impact beams absorb the energy generated during the collision. The passengers and drivers involved in side-impact collisions generally get severely injured as compared to other collisions. The major reason behind severe injuries such as hip and leg injuries, ear injuries, back injuries, head injuries, neck injuries, rib injuries, shoulder and arm injuries is the availability of low survival space. This survival space varies from 5 cm to 25 cm, which depicts the safety of the car. The Mercedes-Benz E-Class sedan is considered as the safest car in the mid-stream segment with a side impact collision survival space of 24 cm. Every cm of serial space between the passenger and a life-ending amount of energy is a life-preserving cm of survival space.
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Side impact door beams can be made of steel or aluminium. Steel automotive side impact beams are used in midsize vehicles to offer a more stable frame to the vehicle. Heavier cars also use more fuel to operate and are therefore fitted with aluminium automotive side impact beams. Aluminium automotive side impact beams offer a similar level of safety with less weight, thereby making the vehicle more fuel efficient and light weight.
Automotive Side Impact Beams Market: Dynamics
The increasing number of deaths in road accidents has created a need for research and development in the automobile sector, leading to the growth of the automotive side impact beams market. Automotive side impact beams are vehicle structural advancements to prevent and minimize collision injury. Also, the significant increase in the sales of high-end vehicles, coupled with rash and unsafe driving, is resulting in an increase in the rate of accidents. A number of vehicles are currently being integrated with advanced safety features to prevent occupants from injury. Authorities have made it mandatory for all vehicles in the U.S. to be equipped with automotive side impact beams. Similar government regulations in developing countries for automotive side impact beams are anticipated to boost the market in the coming years. Also, the increasing focus of companies to decrease the weight of vehicles without compromising with the efficiency and safety feature of the automobile is expected to boost the aluminium automotive side impact beam market over the forecast period. Automotive side impact beams are commonplace in many high luxury and premium vehicles across the globe.
Automotive Side Impact Beams Market: Segmentation
Automotive Side Impact Beams Market: Regional Outlook
Europe, followed by North America, is expected to hold a major share in the global automotive side impact beams market, owing to the presence of prominent original equipment manufacturers of automobiles in the region. Asia Pacific is expected to register high growth during the forecast period. Europe and North America are expected to hold more than half of the market share of the global automotive side impact beams market. Asia Pacific is projected to show high growth in the automotive side impact beams market, owing to the substantial growth in the automotive market in the region. Also, government initiatives to increase foreign direct investments in countries such as India and China to increase manufacturing will also play an important role towards the growth of the global automotive side impact beams market during the forecast period. The rest of the world is estimated to account for a relatively small share of the automotive side impact beams market.
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Automotive Side Impact Beams Market: Market Participants
Examples of some of the market participants operating across the value chain of the global automotive side impact beams market are:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.Also See: Side Impact, Impact Beams, Beams Market, Automotive Side, Vehicles, Side, Market
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