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Worldwide Automotive Airbag Market Size, Share, Development, Growth and Demand Forecast to 2023
Automotive Airbag Market
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he deployment of airbags in low cost cars is a major opportunity, which is expected to influence the growth of the global airbag market. Now-a-days, most of the premium or high cost cars are provided with airbag functionality, while the need of the hour is to integrate airbags in low cost cars and provide good quality reliable airbags within the premium cars.
An airbag consists of a flexible fabric bag, known as an airbag cushion. An airbag is designed to promptly inflate during a collision and deflate after the accident takes place. It is a type of vehicle safety device. There are various places, where the airbags are located in a vehicle. Front airbags inflate during crashes that take place at the frontal part of the vehicle.
Some of the institutions, such as New Car Assessment Program (NCAP), award safety ratings to cars based on safety performance. The stringent road safety government regulations and increased automotive safety awareness in various countries is expected to boost the growth of the global market in near future.
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However, the incorporation of fake airbags in some cars and development of advanced security features are some of the major restraints in the global automotive market. The counterfeit airbags is a growing problem in the U.S. and Canada. The U.S. police estimated that one in 25 cars have fake airbags. The anti-crash sensors, vehicles using GPS (Global Positioning System) and driver less vehicles (Robotics) can impose serious threats to the airbag industry.
During the next few years, vehicles are expected to be equipped with algorithms which can anticipate hazard and intervene or warn the driver. To some extent, this may pose as an indirect threat to the growth of the global airbags market. Takata Corporation, Toyoda Gosei Co. Ltd., DENSO CORPORATION, Robert Bosch GmbH, TRW Automotive Inc. are some of the competitors in the global automotive airbag market.
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