The Occupant Sensing System Market is expected to reach $3,721.21 million by 2023
By Vehicle (PV, LCV, HCV); By Mounting Location (Passenger Side, Driver Side) & By Region (Europe, Asia-Pacific, Americas, RoW)-Forecast (2018-2023)”, the market is driven by declining prices of the safety systems in passenger vehicles.
Occupant Sensing Systems Market (2018 - 2023)”
Americas dominates the Occupant Sensing System Market
Americas dominates the Occupant Sensing System Market during the forecast period. It is expected to reach $1,792.94 million by 2023 at a CAGR of 10.5%. In the US, government terms and policies will drive the demand for occupant sensing systems in the region. The major players are developing sophisticated vehicles with occupant sensing systems and occupant safety systems with safety regulations. The motorization rate in the US has grown higher than the rest of North America due to non-availability of transportation services. In Canada, the latest advancements in sensors and wireless technologies spur the demand for smart system adoption in vehicles. This factor also drives the growth of occupancy detection in the Americas.
Selected Analysis done in the full Report:
There are three vehicle types, namely passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The production of passenger vehicles has been witnessing a faster growth in the recent years. In 2017, the passenger vehicles segment reached a growth of $42.09 million. It is expected to reach $62.145 million by 2023 at a CAGR of 6.71%. The light commercial vehicles segment in 2017 reached a value of $2.72 million. It is expected to reach $145.13 million by 2023 at a CAGR of 93.95%.In 2023, the heavy commercial vehicles segment will reach a revenue of $23.23 million. The passenger vehicles segment dominates the market. Passenger vehicles are the type of vehicles which are used by people for self-purpose. However, these vehicles are not used for commercial applications. The sale of these vehicles has been increasing in the recent times. The government regulations from different regions have increased the integration of the occupancy detection sensor in the passenger vehicles. In China, automotive vehicles need to have CCC certification (China Certification Corporation) for the safety of the passenger vehicles. The occupant sensing system consists of airbag activator control to enable, disable or control the amount of inflation of airbag, in case of any mishap.
Excerpts on Market Growth Factors
- Growing vehicular traffic across the globe leads to strict traffic regulations for improving vehicular safety. This factor drives the demand for the impact sensor.
- Growing number of passenger cars will give rise to the adoption of the vacancy sensor.
- Growing concerns for vehicle safety will lead to the growth of ADAS systems in passenger cars and commercial vehicles.
Key players of the Occupant Sensing System Market
Delphi and CalsonicKansei are the key players in the Occupant Sensing System Market followed by Nidec-Elesys. Delphi deals with the design of the design, manufacture and assembly of vehicle’s electrical architecture which includes wiring assemblies, cable management, and connectors. Calsonic Kansei provides different kinds of products that have important functions in motor vehicles. They include human machine interface and electric vehicles related products.
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