Pedestrian Protection System Market Is Set To Grow According To Latest Research
Market Synopsis
As per the research by Market Research Future Reports (MRFR), the worldwide automotive pedestrian protection system market is projected to thrive at a CAGR of 11.80% during the forecast period from 2018 to 2023. Currently, the worldwide automotive pedestrian protection system market is valued at over USD 900 million. The global automotive pedestrian protection system market 2020 is majorly driven by the rising awareness regarding road safety. Several new systems are entering the market, which allows the players to compete and retain their position in the market. Moreover, every player is focusing on constructing their brand name. Hence, there has been a lot of development in recent times. Besides, the increased traffic accidents have prompted the automobile manufacturers to start investing in pedestrian protection system. To reduce pedestrian accidents, the manufacturers are focusing on redesigning automotive parts such as windshield, hood (bonnet), and bumper. It makes the vehicle more energy absorbing without dismantling the structure of the vehicle.
Due to the sudden outbreak of novel coronavirus, there has been an immense change in the market dynamics. Several regions have been affected due to the pandemic. We will provide COVID-19 impact analysis with the report.
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Market Segmentation
The worldwide automotive pedestrian protection system market can be segregated on the basis of component type, vehicle type, technology, type, and region.
On the basis of component type, the worldwide automotive pedestrian protection system market can be classified into Sensor, Cameras, Actuator, Control Unit, and others.
On the basis of vehicle type, the worldwide automotive pedestrian protection system market can be classified into Internal Combustion Engine (ICE) Vehicles, Hybrid Vehicles, and Electric Vehicles.
On the basis of technology, the worldwide automotive pedestrian protection system market can be classified into Active Pedestrian Protection System and Passive Pedestrian Protection System.
On the basis of type, the global automotive pedestrian protection system market can be classified into Brake Assist, Automatic Braking and Collision Avoidance, Pop-up bonnets, and External Airbags.
On the basis of region, the global automotive pedestrian protection system market can be classified into North America, Asia Pacific, Europe, and the Rest of the World (RoW).
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Regional Analysis
The regional evaluation of North America, Asia Pacific, Europe, and the Rest of the World (RoW) has been conducted. As per the research by MRFR, the North American market is likely to dominate the global market. The region holds the maximum market share. The US and Canada play a substantial role in the expansion of the market. Besides, several established players are based out of the North American region. There is very fierce competition in the region.
Moreover, the citizens of North America have a significant purchasing power, which additionally propels the market. Besides, the governments of the North American regions have implemented stringent rules and regulations, keeping the pedestrian’s safety in mind. To curb the increasing pedestrian accidents, the government plans to promote and implement pedestrian safety systems in automobiles. The manufacturers are offered incentives and are strictly ordered to adhere to the safety measures and incorporate them into the newly manufactured product.
However, due to the outbreak of pandemic coronavirus, several regions have been adversely affected. The dynamics of the market are changed significantly due to the observation of worldwide lockdown.
Key Players
The forefront competitors of the worldwide automotive pedestrian protection system are AB Volvo, Aptiv PLC, Continental AG, Robert Bosch GmbH, Autoliv Inc, DENSO, Subaru Corporation Mobileye, Magna International Inc, ZF, WABCO Holdings, Inc, Valeo, and Nissan Motor Company Ltd,.
