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Occupant Classification System Market By Regional Growth Forecast 2019-25

Author : Rahul Varpe | Published Date : 2019-08-06 

Global Market Insights, Inc., report estimates that the occupant classification system market size would be surpassing the $3 billion renumeration mark by 2025.The U.S. and Europe have emerged as leading regional revenue pockets transforming occupant classification system market outlook. The strict regulatory scenario across these regions mandating the use of OCS is one of the prominent factors fueling regional growth. For the record, in the U.S., the National Highway Traffic Safety Administration (NHTSA) had deployed vehicle safety standards to mandate safety requirements for occupant’s protection. As a result, most of the automobile manufacturers like Ford, Chevrolet, Dodge, and Honda have started to integrate these systems in most of their mid-range & flagship models.

Speaking about Asian continent, the countries including India and China are poised to account for a significant business share, owing to the implementation of rules related to airbag safety. The deployment of such norms has promoted vehicle manufacturers to install OCS in economy class vehicles mainly across India. Improving standards of living in these countries will help fuel the regional car market and in turn will support the occupant classification system market landscape over the forecast period.

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Impact of rising vehicle safety awareness in APAC on occupant classification system market

The APAC is home to some of the world’s largest automotive markets and the rapid economic growth nations like China & India are experiencing are further expanding the growth prospects of the global automotive industry. This has consequently provided a lucrative growth opportunity to the occupant classification system market .
 

The Need: According to a road safety report by the United Nations ESCAP, across the APAC, one person gets killed in a road accident every 40 seconds. That’s more than 2,000 individuals per day and more than 15,000 per week. Lack of proper driving etiquettes & an overall disregard for traffic rules are some of the leading factors behind these statistics.
 

There also exists a culture where, unlike western nations, children in APAC countries like India are allowed to ride shotgun, putting them in imminent danger wherein they could sustain life threatening injuries from airbags deploying in case of an accident. This has subsequently created an immense need for OCS in the region, which would gradually lead to the expansion of the regional OCS industry.

The consistently expanding automobile sector and the rising demand for passenger safety regulations across developing nations will drive the growth trends of occupant classification system industry. Growing emergence of collision repair services across the globe will further accelerate the product demand noticeably. Some of the market players in the occupant classification system market include Delphi Technologies, Aisin Seiki, Denso, Mayser, Flexpoint Sensor Systems, and Hyundai Mobis.

Browse key industry insights spread across 155 pages with 173 market data tables & 22 figures & charts from the report, “Occupant Classification System Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/occupant-classification-system-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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