Vehicle ISOFIX Anchorage Market Latest Trends and Future Growth Study by 2027January 21, 2020
Global Vehicle ISOFIX Anchorage Market: Introduction
- Government regulations that mandate automakers to install safety features for the child occupant are anticipated to drive the global vehicle ISOFIX anchorage market. ISOFIX anchorage is a key component of the child restraint system (CRS), which holds the child’s seats in a vehicle. When the vehicle accelerates or decelerates suddenly, a child without a CRS is susceptible to severe injuries, and in some cases death, in case of a collision. Increase in installation of child restraint systems drives the vehicle ISOFIX anchorage market.
- ISOFIX anchorage is majorly responsible for the safety of the child occupant in case of a vehicle collision or sudden deceleration. ISOFIX anchorages are designed to prevent the ejection of the child seat mounted in a vehicle.
Key drivers of global vehicle ISOFIX anchorage market
- Mandatory installation of ISOFIX anchorage in a vehicle is driving the global vehicle ISOFIX anchorage market. For instance, United Nations Economic Commission for Europe (UNECE) mandated “i-Size” regulation witnessed major improvements regarding safety of the child occupant. Under this regulation, automakers are required to provide fewer options for installation of ISOFIX anchorage, lowering the risk of the child seat (CRS) being incorrectly fitted in a vehicle.
- A study conducted in Norway estimated that head injuries accounted for 60% of all injuries to vehicle occupants. The study further concluded that vehicle drivers and front seat passengers not wearing seat-belts suffer the same percentage of head injuries as non-wearers in the rear seats.
- Rise in demand for luxury vehicles, which is attributed to an increase in disposable income and improvement in standards of living, is driving the global ISOFIX anchorage market. Furthermore, a key reason for customers to buy a luxury vehicle is the extra advanced safety features for child occupants offered in these vehicles. Several automakers are trying to attract customers by providing advanced luxurious features including air bags for front seats to provide impact safety to children, connected technology, and advanced safety features such as ISOFIX anchorage.
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- A child has a weak and underdeveloped neck as compared to that of an adult. Furthermore, the head of a toddler or child is heavier as compared to the rest of his body. In case of a vehicle collision, children are highly vulnerable among all vehicle occupants. According to American College of Emergency Physicians, the use of child restraint systems (CRS) offers significant amount of protection against ejection during a crash. Ejection from seat of the vehicle is an eminent injury that can happen to a person in a crash, resulting in death of 75% of all vehicle occupants ejected from a vehicle seat.
- Stringent regulations pertaining to vehicle safety in order to reduce the rate of children fatalities are boosting the global vehicle ISOFIX anchorage market. Several government and regulatory authorities have taken initiatives and enacted country-wide vehicle standards and legislations that mandate implementation ISOFIC anchorage in a vehicle, as there is potential for federal intervention in the field of children safety and to reduce the number of children fatalities in collisions. For instance, 10% improvement in enforcing the use of child restraint in vehicles can reduce child fatality rate from 0.94 to 0.56 per 100,000 cases.
- Highway codes and road safety rules in the U.K. have concluded that children are highly vulnerable occupants in a vehicle and these rules mandate the use of child resistant (seat belt) if and when travelling in cars, mini uses, and vans. Moreover, the U.K government charges a fine of GBP 500 in case a driver is not wearing seat belt and additional GBP 60 if child occupant is not wearing a seat belt.
Asia Pacific and Europe, together, to account for significant share of global vehicle ISOFIX anchorage market
- Rapid technological advancements, advancements in road infrastructure, and economic development are driving the geographic expansion of cities in countries such as India, China, Malaysia, Thailand, and South Korea in Asia Pacific. This also has led to a rise in the standards of living and disposable income of the population, prompting consumers in the region to prefer owning a vehicle.
- Furthermore, legislations enacted by governments, UN regulations, EU Standards on Vehicle Safety by European Transport Safety Council, and safety regulation by SIAM India, further prompt automakers to increase safety ratings of their vehicle for all vehicle occupants. This encourages the automakers to implement ISOFIX anchorage in their vehicles, which in turn is driving the vehicle ISOFIX anchorage market.
Key players operating in global vehicle ISOFIX anchorage market:
The global vehicle ISOFIX anchorage market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global vehicle ISOFIX anchorage market are:
- Far Europe Inc.
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