Global Occupant Classification System (OCS) Market Forecast to 2025: The Installation of OCS in Economy Class Vehicles in Developing Countries - A Lucrative Opportunity - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 18, 2018--The “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” report has been added to ResearchAndMarkets.com’s offering.
The global occupant classification system market is estimated to be USD 1.99 billion in 2018 and is projected to grow at a CAGR of 6.80% during the forecast period, to reach USD 3.17 billion by 2025.
Stringent safety norms for vehicles to pass the NCAP test ratings are expected to drive the OCS market. Various government authorities such as the National Highway Traffic Safety Administration (NHTSA) have imposed safety norms for new cars. Similar safety norms are expected to be implemented in developing countries such as India, China, and Brazil in the coming years.
The installation of OCS in economy-class vehicles in developing economies can create new revenue generation opportunities for occupant classification system manufacturers. The major restraint for the global occupant classification system market is regional disparities in NCAP safety ratings.
The global occupant classification system market is segmented by sensor, component, vehicle, electric vehicle, and region. The report discusses two types of sensors, namely, pressure sensor and seat belt tension sensor. Seat belt tension sensor accounts for the largest share of the occupant classification system market. This segment is driven by factors such as the increasing adoption of passive safety features in a vehicle and upcoming government mandates in developing economies. The pressure sensor segment is estimated to be the fastest growing market for occupant classification systems, by sensor.
The sensors segment is estimated to be the fastest growing market for occupant classification systems, by component. Sensors are essential component of the OCS mechanism. Sensors are estimated to experience significant growth due to the increasing sales of luxury vehicles across the globe.
The mid-size class of light-duty vehicle segment is projected to be the largest market for occupant classification systems. Modern passive safety technologies such as smart airbags, two stage airbags, and three-point seat belts are used in mid-size and economy class of light-duty vehicles. On the other hand, OCS is used extensively in luxury vehicles. The increasing installation of OCS in mid-size and economy-class vehicles is expected to drive the growth of OCS market.
The Asia Pacific market is projected to hold the largest market share and is estimated to grow at a significant CAGR during the forecast period. The market growth in the region can be attributed to the increase in vehicle production and adoption of advanced safety technologies in vehicles. Expansion of leading OEMs and automotive component suppliers in developing economies such as China and India is also expected to drive the growth in this region.
The major players in the global occupant classification system market are ZF (Germany), Bosch (Germany), IEE Sensing (Luxembourg), TE Connectivity (Switzerland), and Aptiv (UK).
DriversStringent Safety Norms for Vehicles to Pass the NCAP Test Ratings
RestraintsRegional Disparities in Regulations (NCAP Safety Ratings) Public Acceptance of Safety Technologies is Impacted By High Price
OpportunitiesInstallation of OCS in Economy Class Vehicles in Developing Countries Leveraging Allied Technology for Better Accuracy
ChallengesAlternative Technologies for Occupant Classification System
Key Topics Covered1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Technology Overview
7 Occupant Classification System Market, By Sensor Type
8 Occupant Classification System Market, By Component
9 Occupant Classification System Market, By Light-Duty Vehicle Class
10 Occupant Classification System Market, By Electric Vehicle
11 Occupant Classification System Market, By Region, 2018-2025
12 Competitive Landscape
13 Company ProfilesAisin SeikiTE ConnectivityZFContinentalAptivRobert BoschDensoAutolivNidec CorporationIEE SensingTCS CorporationJoyson Safety SystemsKeihin CorporationCalsonic Kansei CorporationShanghai Shanben Industrial E.& I. Co. Ltd.Flexpoint Sensor SystemsMayserVmanx
For more information about this report visit https://www.researchandmarkets.com/research/k7mxf8/global_occupant?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181218005361/en/
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Related Topics:Automotive Sensors
INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 12/18/2018 05:53 AM/DISC: 12/18/2018 05:53 AM