Press release
Automotive Airbags Market Size, Share, Growth and Regional Forecast 2020-2026
List of prominent companies that are operating in the global Automotive Airbags Market are:
• Autoliv
• ZF Friedrichshafen AG
• Robert Bosch GmbH
• Continental
• Joyson Electronic
• Hyundai Mobis
• Denso Corporation
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The market is expected to gain momentum from a rise in the implementation of strict safety rules and regulations for pedestrians and drivers. Additionally, governments of various countries are enforcing OEMs to install airbags in commercial vehicles as well as passenger cars to double the safety features.
Europe to Dominate: Stringent Regulations Regarding Occupant & Pedestrian Safety to Favor Growth
The market is geographically fragmented into Asia Pacific, North America, Europe, and the rest of the world. Amongst them, Europe is set to dominate the market in the coming years owing to strict government rules regarding pedestrian and occupant safety for the vehicle. Furthermore, major countries, such as Sweden, the U.K, France, and Germany are promoting Euro NCAP actively.
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Asia Pacific, on the other hand, is expected to showcase a steady growth. A rise in the production and sales of vehicles in developing nations, namely, China and India would contribute to growth of the market in this region. Apart from that, increasing awareness campaigns about vehicle safety systems amongst the consumers would also drive automotive airbags market growth.
North America is anticipated to grow significantly during the forecast period. This growth is attributable to the Intermodal Surface Transportation Efficiency Act of 1991. As per the act, the installation of airbags is mandatory in light-duty commercial vehicles as well as passenger cars.
Autoliv Develops Novel Front Center Airbag to Save Lives During Side-Impact Crash
November 2019: Autoliv, Inc., an automotive safety supplier, headquartered in Sweden, declared that it has developed an innovative front-center airbag. It is specifically designed for side-impact crash situations. It was exhibited at the company’s ‘Capital Markets Day’ on November 19 at Utah. The airbag would aid in preventing driver-to-passenger and driver-to-interior impact.
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