Automotive Pedestrian Protection System Market Size

Automotive Pedestrian Protection System Market Size

Automotive Pedestrian Protection System Market size was worth around USD 1.5 Billion in 2017 and will witness over 10.5% CAGR up to 2024.

Increasing number of vehicles has in turn led to increase in the accidental collisions between vehicles and pedestrians. Requirement to ensure the safety of the vehicles and the human lives are expected to be among the prominent factors fuelling the automotive pedestrian protection system market share over the forecast timeframe.

According to the European Commission report in 2015, 5,435 pedestrians were killed in road accidents in Europe. Around 45% of these fatalities in Europe occurred owing to bad lighting conditions and 37% fatalities were witnessed in daytime. During the accidents, pedestrian initiates an action too early or lack the correct way of acting. Moreover, car driver cannot contribute to accident prevention most of the times, owing to very small reaction time required to anticipate the upcoming obstacles. This necessitates the driver assistance systems to mitigate the occurrence of fatal accidents and is expected to be among the prominent factors fuelling the industry growth.

Manufacturing of the automotive pedestrian protection system requires integration of components that include cameras, sensors, radars, screen display, airbags, and vehicle mounts. The cameras & radars are fitted in the side & front of vehicles, windshields, and bumpers to enable ease of object detection. Electronic control unit and sensors are fitted in the front part of the vehicle that triggers actuators that can lift the engine hood in milli-seconds. This provide safe buffer for the person’s head in mitigating the impact of collision, thereby fuelling the requirement of deploying these systems in vehicles.

Several car assessment programs such as Australasian NCAP, C-NCAP, JNCAP, KNCAP, Latin NCAP, ASEAN NCAP, Euro NCAP and Canadian NCAP are developed to ensure vehicle safety. High safety ratings by these associations aids the OEMs in gaining higher consumer inclination towards their vehicles. Models integrated with obstacle detection and emergency braking systems help the OEMs secure high safety ratings, in turn positively influencing the consumer motivation. This will present favourable growth landscape for the automotive pedestrian protection technology market share.

Availability of these systems as an optional feature contributes a significant increase in the overall cost of the vehicles. This is expected to be among the major obstacles for business expansion of these systems. Moreover, external airbags once inflated in the occurrence of an accident cannot be used again. Redeployment of these external airbags at the front requires substantial efforts and cost. For instance, airbag deployment system replacement cost was about USD 3000 in Volvo V40, which was introduced in 2013. Moreover, these systems are not highly reliable and have witnessed several failures over the past few years. These factors are expected to present considerable growth challenge to the automotive pedestrian protection systems through the forecast years.