FOR IMMEDIATE RELEASE
(February 18, 2019): The latest industry market report from MotorComfort indicate that the baby car seat market is projected to continue thriving from 2019 to 2023, particularly in the developed countries of Europe and the U.S. the market is projected to prosper on the back of growing concerns among parents with regard to the safety of their babies. The increases in sales of automobiles across the world, along with the increasing purchasing power of consumers to spend on automobiles, are most probably the main drivers behind the increasing growth in the market.
With respect to regions, the world’s baby car seat market is fragmented into Europe, North America, Asia Pacific, Latin America, and Africa. Out of these regions, the North American market led the way and it is projected to garner positive compounded annual growth rate (CAGR) from 2018 to 2023. The North American market is booming on the back of strict government regulations concerning child safety seat. For instance, the state of California recently passed legislation that makes it mandatory for all children below 2 years to be buckled up in rear-facing baby car seats unless the baby’s weight is over 40 pounds or the baby’s height is above 40 inches tall.
Besides the North American market, The CEO of Motor Comfort feels that “Europe has seized the second leading share in the global baby car seat market” It is also expected to witness bullish growth in the coming five years. Growing concerns about child safety as well as government regulations in the Euro Zone countries like the UK are anticipated to drive the demand for baby car seats in the region. Moreover, the growing population of newborns in the European continent is expected to further increase the demand for baby car seats in the region.
On the other hand, the Asia Pacific market is also estimated to grow at a remarkable CAGR over the next five years. The market for baby car seats in the region is projected to thrive on the back of growing disposable incomes and rising awareness about the need and advantages of baby car seats.
In terms of product type, the rear-facing baby car seat segment seized the lion’s share of the global market and it is projected to maintain this momentum over the period from 2018 to 2023. Automobile manufacturers are looking forward to making baby car seats a standard feature in passenger vehicles. This factor alone is projected to positively impact the growth of baby car seat markets around the world over the period 2019 to 2013.
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