Global Automotive Safety Systems Market to Reach US$ 56.1 billion in 2023
The Global Automotive Safety Systems Market: Highlights The globalautomotive safety system market is projected to grow at a healthy CAGR of 6.7% over the next five years to reach US$ 56.1 billion in 2022, driven by increasing safety system contents per vehicle, the introduction of more stringent safety regulations, high demand for safety solutions, and an organic growth in the automobile production. Global Automotive Safety Systems Market - Insights by Vehicle Type The globalautomotive safety systems market is segmented based on vehicle type as the passenger car, light commercial vehicle, and medium & heavy duty commercial vehicle. The passenger car is expected to remain the largest segment of safety systems in the global automotive industry during the forecast period of 2017 to 2022. This vehicle type is also projected to witness the fastest growth in the same period, owing to increasing penetration of safety systems, high demand for active safety systems, a...