Market Size of Whiplash Protection System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 12.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Whiplash Protection System Market Analysis
The Whiplash protection system market is expected to grow at a CAGR of over 12% during the forecasted period (2020 - 2025)
- Whiplash injury is the most common injury in car crashes, more than one million whiplash injuries occur each year due to car crashes. The passive safety systems in vehicles such as airbags and seatbelts have evolved at a swift pace and now OEMs are also including whiplash protection systems. With growing focus on safety systems by customers and governments all over the world, the whiplash protection system market is expected to see high growth rate.
- Initially whiplash protection systems were offered only in the luxury vehicles due to extreme budget conscious nature of the buyers. As the safety systems are getting advanced and cheaper paired with growing consumer awareness, increase in purchase capacity OEMs have started including this safety feature in budget cars as well.
- Global automobile sales fell by four percentage in 2019, representing the second consecutive year of declining demand. Before the pandemic hit, it has been estimated that international car sales were on track to reach 80 million sales in 2020; however, as economic woes continue, demand for new motor vehicles is forecasted to be in the negative throughout 2020, but the sales are expected to increase rapidly during the later period of the forecasted period.
