Airbag Market Scope
A vehicle safety device designed and manufactured to quickly expand during the collision or accident and regains its original shape after the accident. Due to ongoing technological advancements, the efficiency of these airbags to minimize the impact of the clashes has been reduced. Introduction to Airbags has changed an overall automotive environment, it led to rise in competition among the automotive manufacturers including General Motors, Volkswagen, Toyota and many others owning to number of factors such as innovation, fuel economy, safety, product quality and maintenance services.
The market study is being classified by Type (Driver Front Airbag, Passenger Front Airbag, Front Side Airbag, Rear Side Airbag, Center Airbag, Knee Airbag and Others), by Application (Passenger Vehicle and Commercial Vehicle) and major geographies with country level break-up. According to AMA, the Global Airbag market is expected to see growth rate of 10.1% and may see market size of USD46.21 Billion by 2024.
Research Analyst at AMA predicts that Asian and United States Vendors will contribute to the maximum growth of Global Airbag market throughout the predicted period.
Autoliv (Sweden), Takata (Japan), ZF TRW (United States), Toyoda Gosei (Japan), KSS (United States), Hyundai Mobis (South Korea), Nihon Plast (Japan), Ashimori Industry Co., Ltd. (Japan), East Joy Long (China) and Daicel (Japan) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are TRW Automotive (United States), Continental AG (Germany), Key Safety Systems (United States), Neaton Auto Products Manufacturing Incorporation (United States) and Robert Bosch GmbH (Germany).
AdvanceMarketAnalytics has segmented the market of Global Airbag market by Type, Application and Region.
On the basis of geography, the market of Airbag has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vehicle Type, the sub-segment i.e. Compact Cars will boost the Airbag market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On May 24, 2016, Hyundai Mobis has announced that it has entered into the ‘Safety and Health Win-Win Partnership Agreement’ with over 1,400 local parts dealers at Jeju Haevichi Hotel for providing free safety consulting to the dealers starting next month. That will significantly help company in airbag market growth.
From October 1, 2019, airbag fitment will be mandatory for all Private Vehicles in India since the regulatory bodies of India have mandated standard fitment of airbags in all passenger vehicles and anti-lock braking systems in two-wheelers. Moreover, according to the government gazette on safety standards published on October 1st, 2017, the government of India has mandated protection of driver against steering column intrusion with the help of airbags in case of impact approximately at 50kph (full frontal c
- Development of New Technologies and Products such as Pedestrian Airbags
- Increasing Demand for Smarter and Safer Airbags
- Increasing Consumer Awareness about Driving Safety Concerns
- Increasing Prevalence of Road Accidents
- Continues Technological Advancements such as Fuzzy Logic Software
- Due to Intense Competitive Rivalry in Automobile Industry
- Highly Capital Intensive Market
- Might Increase Vehicle Cushion Weight which might hamper Vehicle Performance
- Drastic Imbalance between Cost and Quality
- Continues Changing Consumer Preferences and Vehicle Models
Key Target Audience
Airbag Manufacturers, Automobile Manufacturers, Traffic and Safety Organizations, Government Agencies, Automobile Equipment Manufacturers and Others
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