Automotive Pedestrian Protection Systems (PPS) Market Size and Share to See Modest Growth Through 2025
The global automotive pedestrian protection system market was valued at US$ 992.8 Mn in 2016 and is expected to increase to US$ 4,994.0 Mn by 2025, registering a CAGR of 19.95% over the forecast period. Pedestrian protection systems (PPS) offers safe and cost-effective solutions for the protection of pedestrians. Also, it fulfils the legal requirements necessary for automotive pedestrian protection on vehicles. The system consists of sensors in the front part of the vehicle and an electronic control unit (ECU), which triggers actuators that can lift the engine hood within a fraction of a second. This provides a safe buffer for the pedestrian’s head in the incidence of an accident.
Increasing demand for advanced safety, comfort, and convenience systems, and increasing number of road accidents are expected to fuel growth of the market. These factors influence the government to adopt stringent regulations regarding antilock braking systems (ABS), advanced driver assistance systems (ADAS), electronic brake-force distribution (EBD), tire pressure management systems (TPMS), and airbags across the globe to enhance user safety. For instance, in 2008, the U.S. Congress Transport Recall Enhancement, Accountability and Documentation (TREAD) Act mandated the deployment of tire pressure monitoring system (TPMS) technology in all passenger vehicles to improve driver and passenger safety by means of a dashboard warning system. Moreover, according to the TREAD Act, in November 2012, the European Union mandated tire pressure monitoring system (TPMS) in passenger car model. Also, the U.S. Highway Safety Act of 1991 made airbags and anti-lock braking system (ABS) features mandatory in all passenger cars. Embedded technology in the systems provides efficient operation and improved safety, which is expected to fuel growth of the automotive pedestrian protection systems market.
Request for Sample Copy of this Report :
Advancement in radar system is one of the major drivers for growth of the global automotive pedestrian protection systems market. Radars are necessary in advanced autonomous driving system. It provides warning to the driver regarding potential collisions and can be used to avoid blind spot crashes. Radar sensors are responsible for collecting vital information such as range, angle, and Doppler velocity. This information is used to determine the driving situation and give warning to the driver in potentially dangerous situations.
However, high cost for implementing safety features for pedestrian protection is restraining growth of the market. For instance, airbags have some limitations such as it inflates just once on impact, after which it needs to be replaced. Moreover, it is expensive and hence, the requirement for installation of airbag every time will be cost nominal.
North America accounted for the largest market share in 2016
On the basis of geography, global automotive pedestrian protection system market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa. Automotive pedestrian protection system market in North America region held the dominant position in 2016 and is expected to retain its dominance over the forecast period. The automotive pedestrian protection system market in this region is projected to reach US$ 1,997.3 million by 2025. Stringency of the regulatory bodies towards reducing the carbon footprint and emissions, and prevention of road accidents are the factors propelling growth of regional automotive pedestrian protection. For instance, Corporate Average Fuel Economy (CAFÉ) Standards in the U.S. is propagating adoption of energy efficient automotive by formulating regulations for reduction of petroleum consumption and enhancing utilization of alternative fuel vehicles such as hybrid vehicles. It also focused on reducing greenhouse gas emissions and promoting development of innovative technologies to increase their reliance on renewable and conservation of energy sources. This in turn creates a highly conducive environment for growth of the global automotive pedestrian protection system market.
In 2016, the U.S. Department of Transportation’s National Highway Traffic Safety Administration officially announced that automakers in the U.S. have to include the autonomous emergency braking system as a standard feature for all cars and trucks by 2022.
Major players operating in the global automotive pedestrian protection systems market include Audi AG, Volvo Car Corporation, Continental AG, Robert Bosch GmbH, Toyota Motor Corporation, ZF Friedrichshafen AG, Autoliv Inc., Mobileye N.V., Subaru Corporation, Valeo, Honda Motor Co., Ltd., General Motors, Ford Motor Company, Daimler AG, Denso Corporation, Nissan Motor Corporation, BMW AG, and Magneti Marelli SpA.
Request for Customization as per your need :
You may be interested
Autoclave Market Analysis of Sales, Revenue, Share and Growth And Companies MELAG Medizintechnik oHG, Tuttnauer, Getinge AB, Belimed, SAKURA SEIKIAlbert R - September 25, 2018
According to a new market research study titled Autoclave Market to 2026 Global Analysis and Forecasts by Material Composition, Industries and End Products, The report highlights…
Optometry Equipment Market Emerging Trends,Forecasts 2018-2025 And Major Key Companies Canon, Carl Zeiss AG, Escalon Servicesc., Essilor International S.A., Haag-StreitAlex Mathew - September 25, 2018
According to a new market research study titled Optometry Equipment Market to 2026 Global Analysis and Forecasts by Material Composition, Industries and End Products, The report…
Patient Engagement Solution Market Share, Growth, Outlook to 2025 And Top Companies Allscripts, Cerner Corporation, Conifer Health Solutions, HealthagenRachel Stinson - September 25, 2018
According to a new market research study titled Patient Engagement Solution Market to 2026 Global Analysis and Forecasts by Material Composition, Industries and End Products, The…