Analysis of Automotive Side Impact Assembly Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to Fact.MR latest report, the automotive side impact assembly market is expected to expand gradually between 2021 and 2031 with CAGR of 3% to 6%. Though due to COVID-19 pandemic the overall sales were hampered and the demand drastically declined during 2020. However, it is estimated that the market will show positive growth from 2021 onwards.
The rising number of people killed in car accidents has prompted the automotive industry to invest in research and development, resulting in the growth of the automotive side impact assembly market.
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Automotive side impact assembly are advances in vehicle structural design that help to avoid and reduce crash injury. In the event of an accident, side impact assembly absorb the collision force, resulting in minimal damage to passengers.
The large rise in high-end car purchases, combined with rash and dangerous driving, is leading to an increase in the number of accidents. Currently, sophisticated safety systems are being built into a variety of cars to protect passengers from injury.
All cars in the US must now be fitted with side impact assembly, according to authorities. Similar government regulations are expected to fuel the demand in the coming years in other countries. Automotive side impact assembly are standard in many high-end luxury and premium vehicles around the world.
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The COVID-19-induced slowdown has had an effect on automotive sales all over the world. This has had a knock-on impact on sales of vehicle components and materials. Automotive industry will recover over a period of 3-4 financial quarters creating more demand for the side impact assembly. Over the forecast period, the rising attention of companies to reduce vehicle weight without sacrificing the vehicle's performance and safety features is expected to boost the aluminum based automotive side impact assembly.
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During the forecast period it is projected that the US will remain one of the most profitable markets for automotive side impact assembly. The reason for this is that all cars in the US must now be fitted with side impact assembly, according to authorities. Because of the presence of key original equipment manufacturers of automobiles in the area, North America is projected to hold a significant share of the global market.
Due to strict regulations requiring vehicles to be equipped with side-assemblies, Europe is expected to show steady growth in the automotive side impact assembly sales over the forecast period. The COVID-19 crisis has had an adverse effect on many EU countries, resulting in a drop in economic activity.
In recent years, manufacturers have been gradually building a new customer base in the region. Demand is expected to increase as the European automotive sector continues to develop. Government initiatives to boost investment in Europe in order to boost manufacturing will also help the global market expand during the forecast period.
Some of the leading manufacturers and suppliers include
Companies in the industry intend to acquire and collaborate strategically with end customers and regional distributors to meet the needs of an expanding customer base. To gain a foothold in new and increasingly growing markets, manufacturers use acquisition and regional expansion strategies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Automotive side impact assembly sales are estimated to rise at 6% CAGR through 2031.
Rising focus on safety and implementation of strict automotive safety mandates by governments bolster market growth.
The U.S. is projected to be a highly opportunistic market in the North American region over the coming years.
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