Whiplash Protection System Market size is expected to grow at a swift pace over the next 5 years. The need for safer driving experience, rising awareness regarding road accidents, rising demand for vehicles and strict government regulations regarding the safety of the motorist is expected to boost the market.
It was reported that millions of people suffer injuries in road crashes due to lack of safety devices in the vehicles. This resulted in consumers becoming more concerned about the safety.Consumers are demanding for advanced safety features which will propel market. Organizations like NCAP is mandating whiplash protection system in all the automobiles which is escalating the demand further. Automobile manufacturers have to comply with country-specific safety norms if they wish to export their vehicles to another country.
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Automotive safety systems have become more advanced, sophisticated, and efficient and now includes whiplash protection systems. Whiplash protection is meant to safeguard theneck of the front seat occupant in rapid forward and backward movement of the head and neck from sudden acceleration or deceleration. The system ensures that the back of the occupant doesn’t move far away from the backrest when a rear collision occurs. Thus, these systems are the most vital safety solutions when it comes to back-endcollisions and prevents a multitude of injuries.
Initially, whiplash protection systems were offered only in the luxury vehicles due to extremely budget-conscious nature of the buyers in the wider segment. The first priority goes to the airbags and abs systems, post which the manufacturers think of adding other systems. But now, advanced safety systems are no longer limited to just luxury vehicles as the consumers have begun to demand improvements in vehicle safety systems, these systems are now available even in entry-level vehicles.
The major restraining factor for the whiplash protection system market is its high cost. The extra cost is incurred in designing and testing this system makes it expensive and due budget-conscious nature of the buyers, high price negatively affects the sales. Also, since the demand forwhiplash protection systems is directly dependent on the demand for cars, its market faces challenges on account of the cyclic nature of automotive production and sales.
The various market segments can be derived on the basis of type and vehicle type.
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The factors such as government regulations, burgeoning premium vehicle sales and initiatives by various companies is expected to cause the growth in whiplash protection system market in Asia Pacific led by India, China and Japan. The awareness regarding the safety technologies has taken the hike in the Asia Pacific regions which is becoming the engine for growth.
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The market in North America is also expected to expand at a healthy clip on the back of stringent regulations pertaining to car safety.Though Asia-Pacific is the largest automobile market in the world, it lags significantly behind North America in the whiplash protection systems market.
The high demand for safety systems is primarily from developed countries such as Europe and the US. However, developing countries such as India, China, and Brazil are also slowly increasing their demand for advanced safety systems because of rapid economic growth and rising purchasing power of the average customer in the region.
The key market players in the market are –
ITW Automotive Products
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