The global OCS market is projected to grow at a CAGR of 6.80% during the forecast period, from USD 1.99 billion in 2018 to USD 3.17 billion by 2025
NEW YORK, Sept. 10, 2018 /PRNewswire/ -- Increasing use of vehicle passive safety systems, increasing sales of mid-size and luxury vehicles, and increasing demand for energy-efficient electric vehicles to fuel the demand for the occupant classification system (OCS)
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The global OCS market is projected to grow at a CAGR of 6.80% during the forecast period, from USD 1.99 billion in 2018 to USD 3.17 billion by 2025. Stringent safety norms for vehicles to pass the NCAP test ratings are expected to drive the OCS market. However, regional disparities in NCAP ratings and public acceptance of safety technologies, which is impacted by high price, are a few restraining factors for the OCS market. The installation of OCS in economy class-vehicles has increased in developing countries. Also, leveraging allied technologies for better accuracy are expected to create opportunities for the OCS market in the coming years. On the other hand, the availability of alternative technologies for occupant classification system can pose challenges for the OCS market.
Mid-size class of light-duty vehicle to grow at a significant rate during the forecast period
The OCS market for mid-size class segment of light-duty vehicle is projected to grow at the highest CAGR during the forecast period.It is followed by the economy class.
The growth of occupant classification system is driven by the increasing sales of luxury and ultra-luxury vehicles in developed and developing countries.
Asia Pacific to lead the OCS market during the forecast period
The Asia Pacific region is estimated to hold the largest share of the global OCS market in 2018. Increasing demand for vehicles with advanced passive safety features and increasing awareness about green vehicles among people are expected to fuel the growth of the OCS market in the Asia Pacific region.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
-- By Company Type: Tier 1: 45%, Tier 2: 30%, Tier 3: 25%
-- By Designation: Manager level: 35%, C level: 25%, Others: 40%
-- By Region: Asia Pacific: 40%, Europe: 30%, North America: 20%, and RoW: 10%
Major players profiled in the report are:
-- ZF (Germany)
-- Aisin Seiki (Japan)
-- TE Connectivity (Switzerland)
-- Continental (Germany)
-- Aptiv (Ireland)
-- Bosch (Germany)
-- Denso (Japan)
-- Autoliv (Sweden)
-- Nidec Corporation (Japan)
-- IEE Sensing (Luxembourg)
-- Orscheln Products (US)
Research Coverage:
The report segments the OCS market and forecasts its size, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and Rest of the World), sensor (Pressure Sensor, Seat Belt Tension Sensor), component (Airbag Control Unit, Sensors, Others), light-duty vehicle class (Economy, Mid-Size, Luxury), and EV type (BEV, FCEV, HEV, PHEV).
The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the OCS market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
Reasons to Buy the Report:
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights into the following points:
-- Market Penetration: The report offers comprehensive information about the OCS market and the top 10 players in the market.
-- Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the OCS market.
-- Market Development: The report offers comprehensive information about the OCS market. The report analyzes the OCS market across regions and provides comprehensive information about lucrative emerging markets.
-- Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the OCS market.
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