Pune India, Jan. 07, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Pedestrian Protection System Market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Pedestrian Protection System Market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, application, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global Pedestrian Protection System Market are Audi AG, AV Vo, Continental AG, Toyota Motor Corporation, Subaru Corporation, Magna International Inc., General Motors, DENSO CORPORATION, Valeo, Magneti Marelli SpA., Aptiv PLC, Robert Bosch GmbH, ZF Friedrichshafen AG, Nissan Motor Company Ltd, ZF among others. To achieve a substantial market share in the worldwide Pedestrian Protection System Market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Vehicles are equipped with pedestrian protection systems that use sensors, cameras, and a control unit to detect if pedestrians are in danger of colliding with the vehicle or not. Sensors in the pedestrian protection system are designed to detect pedestrian collisions and an airbag control unit is responsible for triggering the actuators that lift the engine hood in the event of an accident. The increasing cases of road accidents globally are boosting the growth of the market as consumers are becoming more aware of the benefits of having pedestrian protection systems installed in vehicles for the safety of drivers, passengers and pedestrians. Rising demand for high-end cars due to changing consumer preferences is fueling the growth of pedestrian protection systems. Bicyclists and other road users also benefit from systems with enhanced functions, which is why pedestrian protection-based solutions are widely adopted across the globe. There are some factors which are affecting the growth of the pedestrian protection system market such as costly installation, low efficiency in bad weather, and one-time use of external airbags add up to a high cost. In addition, continuous innovation in technology, and rising government initiatives are expected to propel market growth. Moreover, technological advancements in the automotive industry will present profitable opportunities for market participants during the forecast period.
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Scope of Pedestrian Protection System Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Million |
| Segments Covered | Type, Application, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Audi AG, AV Vo, Continental AG, Toyota Motor Corporation, Subaru Corporation, Magna International Inc., General Motors, DENSO CORPORATION, Valeo, Magneti Marelli SpA., Aptiv PLC, Robert Bosch GmbH, ZF Friedrichshafen AG, Nissan Motor Company Ltd, ZF among others. |
Segmentation Analysis
Passive pedestrian protection systems are expected to be the fastest-growing segment in 2022.
The type segment includes passive pedestrian protection systems and active pedestrian protection systems. The passive pedestrian protection systems segment is expected to witness the highest growth rate during the forecast period A pedestrian collision will activate the external airbags and pop-up bonnets in a passive pedestrian protection system, due to which the passive pedestrian protection system segment accounts for a significant share in the growth of the market.
Sensors are expected to be the fastest-growing segment in 2022.
The component segment includes the control unit, cameras, sensors, actuator and others. The sensors segment is expected to witness the highest growth rate during the forecast period. In a pedestrian detection system, advanced computer sensors around the vehicle detect people within its proximity. When someone is detected close by, the sensors automatically apply the emergency brakes to stop the car.
OEMs are expected to be the fastest-growing segment in 2022.
The distribution channel segment includes aftermarket and OEM. The OEM segment is expected to witness the highest growth rate during the forecast period. In the pedestrian protection system market, OEMs hold a large share due to a large number of suppliers and manufacturers. In addition, the rapid growth in vehicle sales and production along with the increasing demand for maximum utility capacity is expected to fuel the development of pedestrian protection systems.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for pedestrian protection systems include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The European region witnessed a major share. There are several prominent premium vehicle manufacturers in Europe, which gives the region a competitive edge over the other regions. Further, with the growing trend of cars offering advanced safety features, the automotive pedestrian protection system market is expected to grow strongly.
Country Analysis
- Germany
Germany's pedestrian protection system market size was valued at USD 1235.8 million in 2022 and is expected to reach USD 3728.06 million by 2030, at a CAGR of 14.8% from 2023 to 2030.
Pedestrian protection systems have been growing steadily as a result of government initiatives to reduce pedestrian fatalities on roads and the increase in automobile production in the country.
- China
China's pedestrian protection system market size was valued at USD 629.17 million in 2022 and is expected to reach USD 1871.7 million by 2030, at a CAGR of 14.6% from 2023 to 2030.
The market is expected to grow as a result of rapid urbanization in the country and an increase in awareness about pedestrian safety systems in vehicles as a way to reduce the chances of road accidents.
- India
India's pedestrian protection system market size was valued at USD 503.34 million in 2022 and is expected to reach USD 1508.06 million by 2030, at a CAGR of 14.7% from 2023 to 2030.
A growing middle-class population will lead to more automobile sales with advanced safety solutions due to an increase in disposable incomes, boosting the growth of the pedestrian protection system market in the country.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing need for vehicle tracking hardware and managing software has increased to keep essential supplies flowing.
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