Published on : Dec 19, 2017
Albany, New York, December 19, 2017: As new car models continue to be developed, some of the most important features that continue to drive design and purchasing trends of automobiles are their safety features. In order to protect drivers and passengers, automotive manufacturers began experimenting with the idea of creating a "cushion" in the event of an accident, which is widely known as airbags. In many countries, the recent trend is to opt for automotive airbags that are already installed in vehicles prior to the purchase. Market Research Hub (MRH) has freshly broadcasted a study titled “Automotive Airbag Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” to its wide repository, which reveals that owing to a rise in the number of accidents, the demand for automotive airbags is growing rapidly across the world.
Report Inclusion and Key Highlights
This 344-pages report consists of market size, Y-o-Y growth and CAGR of the automotive airbag market during the projected period of 2017-2027. The report majorly covers different sections on market definition, market dynamics including the key drivers, restraints and trends that are governing the market. The dynamics are based on different micro and macro-economic factors prevailing in the industry during the forecast period.
According to the study, consumers prefer vehicles that have all the necessary safety equipment such as airbags, which help them reduce the impact of accidents, collisions or crashes. This increasing awareness among people regarding vehicle safety is directly responsible for revenue growth of the vehicle type segment of the global automotive airbag market.
Among all the vehicle types, the Passenger Cars segment is estimated to account for about 79% value share in the global automotive airbag market by 2027.
On the basis of product type, the study covers Driver Airbags, Curtain Airbags, Passenger Airbags, Knee Airbags, Side Airbags. Of these, drivers’ airbags will remain sought-after in the market. Over 500 Mn units of drivers’ airbags are estimated to be sold in 2017.
Nowadays, self-driving vehicles is the latest trend in the market. A steady rise in the demand for autonomous vehicles is leading to growth in demand for external airbags to protect pedestrians.
A growth in the automotive industry particularly in Western European countries has led to an increase in demand of automotive safety equipment such as airbags. As per the key highlights, the global automotive airbag market is estimated to experience a significant growth; however, it is still at an emerging stage in developing countries such as India, Mexico and China as compared to other developed markets such as U.S., Canada and Western Europe.
Manufacturers in the global automotive airbag market are currently developing high quality airbags. In developing regions, airbag manufacturers are trying to focus on technological advancements, whereas in developing regions the focus is more on creating and maintaining an effective supply chain. North America, Japan and APEJ are key focus areas for players in this market. Some of the major players in this market include Autoliv, Inc., Takata Corporation, Daicel Corporation, Denso Corporation, Hyundai Mobis Co. Ltd., Toyoda Gosei Co. Ltd., ZF Friedrichshafen AG, Kolon Industries, Inc., Toray Industries, Inc., Porcher Industries SA, Nihon Plast Co. Ltd., Delphi Automotive PLC and others.
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