Airbag Market Segment the Breakdown Data by Module, Type & Geographic Opportunity Analysis 2022

Passive safety features in automobiles is a prime factor as far as occupants protection is concerned. These features consist of airbags that play a crucial role to reduce the impact of collisions at the time of accidents.

The global airbag market is expected to witness significant growth, owing to the increase in consumer awareness towards vehicle safety, use of advanced technology in automotive safety, and growth in the automobile sector.

Strict government regulations in India, Germany, and UK about safety features in automobiles are expected to fuel the market growth. However, high replacement cost of airbags and use of enhanced substitute technology for occupant safety are anticipated to hinder this growth.

The global market is expected to garner $37.3 billion by 2022, registering a CAGR of 9.4% during the forecast period 2016 - 2022.In 2015, Asia-Pacific contributed a major market share, in terms of revenue, owing to growth in the automobile sector and rise in disposable income of consumers.

Download Request Sample @ https://www.alliedmarketresearch.com/request-sample/1851?utm_source=openpr_ss

The market is segmented by module into inflator or gas generator and air bag segments. Inflator or gas generator is expected to hold the largest market share; however, air bag is anticipated to grow at a significant rate in the future.

By type, front and side airbags together comprised around 85% of the global market share in 2015. In the same year, front airbag generated the highest revenue, as it is the major passive safety component of automobiles installed in steering wheel and the front side of passenger to protect the head and chest. Knee and curtain airbags are expected to witness significant growth during the forecast period.

In 2015, Asia-Pacific generated the highest revenue, with over 30% of the global market share, owing to rise in awareness about safety and increase in technological advancements in passive safety components of vehicles.

Top impacting factor of airbag market:

The significant impacting factors in the airbag market include increase in consumer awareness toward vehicle safety features, growth in automobile sector, and competition among car manufacturers. The market is also influenced by the rise in number of road accidents and the execution of strict safety regulations as per government policies to prevent rise in road accidents.

Increase in consumer awareness towards vehicle safety features-

Awareness among customers for the applications and use of passive safety systems has increased, which has led to customers paying premium price for new safety systems in automobiles as well as supplementary safety features.

Demonstrated technology is the key attribute that influences the purchase of safety features. Trustworthiness, safety, and comfort also influence the purchase decision of consumers, which result in rise in consumer awareness toward vehicle safety, thus boosting the market growth.

Key findings of Airbag Market:

•Front and side airbag segments together comprised around 85% of the global market share in 2015.

•Knee and curtain airbag segments are expected to witness significant growth during the forecast period.

•Inflator or gas generator is expected to hold the largest market share; however, air bag is anticipated to show significant growth rate in the coming years.

•Asia-Pacific generated the highest revenue, with over 30% of the global market share.

Purchase Enquiry of Report (Get Discount UP To 25% * Offer Till 31st Dec 2018) @
https://www.alliedmarketresearch.com/checkout/290992?utm_source=openpr_ss

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
Sona Padman
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
Web:https://www.alliedmarketresearch.com

This release was published on openPR.