The global Occupant Classification System Market is projected to grow at a CAGR of 6.7% from 2020 to 2025, to reach USD 2.8 billion by 2025. The automotive industry is experiencing a paradigm shift in vehicle production from developed economies to developing economies. Increasing population and improving demographic dividend in countries like India, China, Brazil, and South Africa have contributed to the increasing production of economy-class vehicles. Economy-class vehicle contributed around 37% of the total vehicle production in the year 2017 and is expected to grow at a rate of approximately 3% by the year 2025. Currently, most of the economy-class vehicles produced in developing countries are not equipped with OCS. The installation of active and passive safety systems in vehicles largely depends on government regulations. With the increasing economy-class vehicle production and growing awareness about safety systems among people, OEMs can create new revenue pockets in developing countries.
By components: The airbag control unit is the fastest-growing segment of the occupant classification system market during the forecast period
The occupant classification system market for the airbag control unit is estimated to be the fastest since it is used in most of the vehicles equipped with occupant sensing technology. Increasing the production of vehicles equipped with smart airbags is likely to drive the growth of this segment.
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By light-duty vehicle Type: economy class is expected to be the fastest-growing segment in the occupant classification system market
The occupant classification system market for an economy class segment of the light-duty vehicle is estimated to be the fastest during the forecast period. Increasing the use of passive safety systems in economy class vehicles is expected to drive the growth of the OCS market. Another factor that is driving the market for economy class is the significant rise in the installation of modern passive safety systems for getting high NCAP ratings.
By Region: Asia Pacific is expected to be the largest and fastest-growing market for the occupant classification system in 2025
The Asia Pacific is projected to be the fastest-growing market for the occupant classification system from 2020 to 2025. The market growth in this region can be attributed to the increasing vehicle production and expansion of leading OEMs and automotive component suppliers. Also, Asia Pacific is projected to be the largest market for the occupant classification system from 2020 to 2025. The market growth in the region can also be attributed to factors such as increasing sales of mid-size and luxury vehicles and government initiatives regarding the use of environment-friendly electric vehicles.
Key Market Players:
The occupant classification system market is dominated by a few globally established players such as ZF (Germany), Bosch (Germany), IEE Sensing (Luxembourg), TE Connectivity (Switzerland), and Aptiv (UK).
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