Jul 15, 2019 (Heraldkeepers) — Occupant Classification System Market size is set to exceed USD 3 billion by 2025; according to a new research report by…
Jul 15, 2019 (Heraldkeepers) — Occupant Classification System Market size is set to exceed USD 3 billion by 2025; according to a new research report by Global Market Insights, Inc. Global occupant classification system market is anticipated to grow due to the increased awareness regarding vehicle safety systems in nations such as India and China. According to the World Health Organization (WHO), nearly 1.25 million mortalities were reported in road crashes each year and car accidents are the leading causes of these deaths globally.
Occupant Classification System Market is anticipated to be worth over USD 3 billion by 2025. Airbags have become a crucial feature for vehicle safety systems, reducing road accidents significantly. However, airbag impacts have injured several occupants, especially children & infants, according to the National Highway Traffic Safety Administration. The occupant classification system market growth can be attributed to the need for restraining systems for airbag forces.
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The U.S. and Europe dominated the occupant classification system market in 2018. The Federal Motor Vehicle Safety Standard 2008, which was given by National Highway and Traffic Safety Administration (NHTSA) has provided the mandatory requirements for active & passive safety restraints and performance requirements for occupant’s protection. As a result, the automotive manufacturers including Chevrolet, Dodge, Ford, and Honda have been implementing these systems in most of their mid-range & flagship models. The regulations for airbags in countries such as India have influenced the installation of these systems in economy-class vehicles creating growth opportunities for the market.