Press release
Porter’s Five Forces Analysis & Map analysis Of Automotive Airbag Market
Automotive Airbag Market
Enforcement of stringent safety regulation by government across globe is a major factor driving growth of the global automotive airbag market.The current trend in the market is deployment of pedestrian airbags in vehicles, which protects the car from front and back, as well as the individual in other vehicle while collision or hit.
Among the product type segments, front airbag product type segment in the global automotive airbag market is expected to register a CAGR of over 9% over the forecast period, owing to increasing adoption of front airbag to protect head and upper body part in frontal crashes.
Asia Pacific market accounted for highest market share of over 20% in 2017 in the global automotive airbag market in terms of revenue, and is expected to continue its dominance over the forecast period.
The market in North America is estimated to grow at a second-highest CAGR of over 9%, owing to stringent government safety regulations, especially in the US. The market in Europe is expected to witness considerable growth owing to presence of major automakers in countries in this region.
Technological advancement in airbag such as airbag on two wheelers such as development of first motorcycle airbag system by Honda has helped to lessen severity of injuries caused by frontal collisions.
The market in Asia Pacific is expected to witness significant growth, and is expected to register a CAGR over 9.5% over next 10 years, owing to increasing awareness regarding automotive safety systems, and increasing adoption of airbag system in mid-sized and passenger cars.
Key players operating in the global automotive airbag market include Autoliv Inc., Takata Corporation, DENSO CORPORATION, Robert Bosch GmbH, Daicel Corporation, TOYODA GOSEI Co.
The report offers insightful and detailed information regarding the various key players operating in the global automotive airbag market, their financials, technological innovations, key developments, apart from future strategies, SWOT analysis, acquisitions & mergers, and market footprint.
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