Automotive Safety Systems Market With Additive Manufacturing, Demand, Domestic Projects, Core Technology, Price, Policy And Report To 2032|Autoliv Inc., Continental AG, ZF Friedrichshafen AG, Valeo, Mobileye

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The Automotive Safety Systems Global Market Report 2023 by The Business Research Company, provides automotive safety systems market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/automotive-safety-systems-global-market-report

According to The Business Research Company’s Automotive Safety Systems Global Market Report 2023, the global automotive safety systems market size will grow from $106.98 billion in 2022 to $118.12 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of automotive safety systems market is expected to grow to $173.43 billion in 2027 at a CAGR of 10.1%.

The increasing demand for electric vehicles is expected to put pressure on automotive safety systems during the forecast period. Electric vehicles require safety features such as adaptive cruise control (ACC), blind spot warning, auto braking, lane assist, and others, which drive the market.

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The automotive safety systems market is segmented:

1) By Type: Active Safety System, Passive Safety System

2) By Vehicle Type: Passenger Cars, Commercial Vehicles

3) By End User: OEM, Aftermarket

New technological developments are a key trend gaining popularity in the automotive safety systems market. The automotive industry is increasingly focusing on integrating smarter and safer safety systems into vehicles for better safety in different terrains and conditions. For instance, in January 2022, Sweden-based truck manufacturer Volvo Vehicles introduced Active Grip Control, a unique safety feature for electric trucks. The new technology significantly improves acceleration, stability, and braking in slippery conditions. The new safety feature also decreases the risk of oversteering and jackknifing when driving unloaded.

The automotive safety systems market report table of contents includes: