CHICAGO, May 4, 2020 /PRNewswire/ — According to the new market research report «Occupant Classification System (OCS) Market by Sensor (Pressure Sensor, Seat Belt Tension Sensor), Components (ACU, Sensors), Sensor Technology (Wired, Wireless), LDV Class (Economy, Mid-Size, Luxury), EV Type, and Region – Global Forecast to 2025″, published by MarketsandMarkets™, the global Occupant Classification System Market is projected to grow at a CAGR of 6.7% to reach USD 2.8 billion by 2025 from an estimated USD 2.0 billion in 2020. The increasing sales of mid-size and luxury vehicles in recent years, which is driven by the changing preferences of vehicle types and lifestyle of the young population, is also expected to drive the OCS market.
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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.
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.
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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.
Major players like Dana and Lydall are investing and increasing their footprint in the Asia Pacific market. For instance, in 2018, Dana inaugurated a plant that would manufacture thermal management products for conventional and new-energy vehicles in Yancheng, China. The rising penetration of such companies in Asia Pacific will drive the overall market.
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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