At 2.0% CAGR, the South America Automotive Passive Safety System Market is projected to be worth US$ 762.40 million by 2028, says Business Market Insights  

According to Business Market Insights’ research, the South America automotive passive safety system market was valued at US$ 678.38 million in 2022 and is expected to reach US$ 762.40 million by 2028, registering an annual growth rate of 2.0% from 2022 to 2028. Technological advancements in passive safety systems and growing adoption of electric vehicles are the critical factors attributed to the market expansion.     

There is a growing trend of integrated vehicle safety that connects the passive safety system with active safety technology resulting in increasingly powerful electronic control units, and sensor technology providing the basis for increasing levels of semi- and fully automated driving functions. With the rapid expansion of the automotive landscape, manufacturers are primarily focused on improving the driving experience, and working toward the overall safety of passengers and drivers. Integrated safety enhances comfort, convenience and driver support with easy-to-use assistance systems and functions like health monitoring of the vehicle occupants. These technologies can help assist in critical driving situations and in protecting occupants. Some technological advancement has taken place in recent years. For instance, Autoliv has introduced Life-Cell airbags. This provides protection regardless of the occupant's position. When activated in conjunction with the deployment of the steering wheel airbag, the Life-Cell airbag acts like a protective cocoon. Similarly, ZF has introduced external pre-crash airbags that deploy outward from the sides of the vehicle. These airbags act as additional crumple zones in the event of an accident. Tests have shown it can help reduce the severity of occupant injuries by up to 40%. Self-driving cars will continue to improve the travel experience. ZF develops restraint systems such as seat belts and airbags to protect occupants in flexible seating positions. ZF has designed the airbags to adapt to the position of the occupants and new degrees of freedom in the passenger compartment. Moreover, the technological advancements in seatbelts are strengthening the market growth. Thus, such developments in technology for airbags and seatbelts are anticipated to drive the market. Thus, such trends in technology for airbags and seatbelts are anticipated to drive the market.

On the contrary, high operating and maintenance costs of passive safety systems hurdles the growth of South America automotive passive safety system market.

• Based on type, the South America automotive passive safety system market can be categorized into airbags, seatbelts, occupant sensing system, child safety system, and others. The airbags segment held 67.4% market share in 2022, amassing US$ 456.94 million. It is projected to garner US$ 524.23 million by 2028 to expand at 2.3% CAGR during 2022–2028.  
• Based on vehicle type, the South America automotive passive safety system market is bifurcated into passenger car and commercial vehicles. The passenger car segment held 76.6% market share in 2022, amassing US$ 519.80 million. It is projected to garner US$ 595.77 million by 2028 to expand at 2.3% CAGR during 2022–2028.
• Based on country, the South America automotive passive safety system market is categorized into Brazil, Argentina, and rest of South America. Our regional analysis states that Brazil captured 71.1% market share in 2022. It was assessed at US$ 482.18 million in 2022 and is likely to hit US$ 547.40 million by 2028, exhibiting a CAGR of 2.1% during the forecast period.      

Key players dominating the South America automotive passive safety system market are Autoliv Inc; Continental AG; FAURECIA; Hyundai Mobis; Joyson Safety Systems; Knauf Industries; Robert Bosch GmbH; Tokairika Co., Ltd.; Toyoda Gosei Co., Ltd; and ZF Friedrichshafen AG among others.  

• In 2022, Autoliv has announced its collaboration with Nuro, autonomous vehicle company for providing higher safety features with exterior airbag to Nuro's latest third-generation vehicle.

• In 2021, Autoliv is entering into collaboration with SSAB, global steel company to replace coking coal with fossil free steel from SSAB for airbags and seatbelts production.

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