Naperville, IL -- (SBWIRE) -- 09/17/2013 -- Reportstack, provider of premium market research reports announces the addition of Global and China Automotive Safety System Industry Report, 2012-2013 market report to its offering
Global and China Automotive Safety System Industry Report, 2012-2013 covers the followings:
1. Automotive Safety System Introduction
2. Automotive Safety System Market
3. Research on Automotive Safety System Industry
4. Research on 14 Automotive Safety System Manufacturers
The poor performance of both EU and Chinese auto markets in 2012 dragged down the growth rate of global automotive industry. Automotive safety system market size in that year was approximately $22.365 billion, a slight increase of 1.2% over 2011. In 2013, automobile markets of China and the United States have done a superb job, thus offsetting the worse performance of the EU market, it is expected that the automotive safety system market in 2013 shows 3.3% growth. Meanwhile, as a large number of active automotive safety system products have come into use, the market size will be expanded to $25.628 billion in 2015.
Currently, active automotive safety system mainly refers to the night vision system, which has been added to the top BMW products as early as 2005. For now, the night vision system is moving from luxury cars to mid-range car market. Major Manufacturers include Autoliv, Visteon, Hella, Astyx and Tyco Electronics.
Global automotive safety system industry saw no big change in 2012, the only big event was the massive recall of cars equipped with Takata airbags. Toyota, Honda, Nissan and Mazda announced the recall of 3.4 million cars worldwide due to the airbag issue; BMW Group also announced the global recall of 220,000 vehicles because of similar problems. The chief culprit was the airbag supplied by Takata, which therefore paid the cost of 30 billion yen, equivalent to its two-year operating income. However, this recall hasnt caused a severe blow to Takata, and customers havent cancelled orders. In the second quarter of 2013, Takata reached revenue of 130.3 billion yen (up 27% YoY), and operating income of 6.245 billion yen (up 49.2% YoY).
Local manufacturers in China showed poor results. For instance, East Joy Long in 2012 witnessed declines of about 28% in revenue and more than 60% in net income, compared to 2011.
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