The global Occupant Classification System Market is projected to grow at a CAGR of 6.7% to reach USD 2.8 billion by 2025 from an estimated USD 2.0 billion in 2020. Increasing demand for safe vehicle, stringent vehicle passive safety norms to pass NCAP test ratings are the primary enabler for the growth of the occupant classification system market. However, public acceptance of safety technology impacted by high prices and regional disparities among NCAP safety ratings are restraining the growth of the occupant classification system market during the forecast period.
By sensor type: seat belt tension sensor is expected to be the largest segment in the occupant classification system market
Seat belt tension sensor and pressure sensor are among the must-have sensor in the occupant classification system. Many governments across the globe have mandated the use of airbags and seatbelts in vehicles. The average selling price associated with the seat belt tension sensor is higher than that of the pressure sensor. This is the reason for the dominance of the seat belt tension sensor segment.
By light-duty vehicle: mid-size class vehicle segment is expected to dominate the occupant classification system market
Over the past few years, mid-size vehicles are getting equipped with the popular features that are fitted in luxury vehicles. The occupant classification system is no exception to that. Many OEMs across the globe sells varieties of mid-size class vehicles. These vehicles are getting advanced with a new variant of models and new models itself. They are getting fitted with modern passive safety features like the occupant classification system. Increasing sales of mid-size class vehicles in developing is fueling the growth of this segment.
Key Market Player:
The major occupant classification system market players include ZF (Germany), Bosch (Germany), IEE Sensing (Luxembourg), TE Connectivity (Switzerland), and Aptiv (UK), among others. These companies have secure distribution networks at a global level. Also, these companies offer an extensive product range. The key strategies adopted by these companies to sustain their market position are expansions and acquisitions.
Frequently Asked Questions (FAQ):
To speak to our analyst for a discussion on the above findings, click Speak to Analyst