Airbag Market Size, Share, Growth, Trends, Forecast, Industry Segmentation | Valuates Reports

The global airbag market is expected to reach USD 37.3 Billion by 2022, growing at a CAGR of 9.4% from 2016 to 2022.

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In the global automotive industry, the demand for airbags is on a rapid increase. Rise in consumer awareness towards vehicle safety features and inclination towards the use of advanced technology to reduce the impact of accidents drive the market growth. In addition, increase in competition among car manufacturers to introduce advanced safety features contributes to increase in the demand for airbags. Increase in number of road accidents in India, China, and Indonesia has prompted the local governments to execute strict road safety regulations. This has resulted in the compulsory installation of airbags in automobiles being introduced in the market, which is anticipated to further fuel the market growth. However, inclusion of advanced technological features causes an increase in the cost of cars, thus inhibiting market growth. Moreover, once the airbags get deployed, their replacement costs are very high. The advanced safety features other than airbags, such as radars, cameras to detect potential danger, anti-crash sensors, driverless vehicles (robotics), and vehicles using GPS, are expected to impose a major threat to airbag manufacturers, thus impeding the market growth.

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The production facility to manufacture airbags are present in developed nations, such as the U.S., Germany, and China. These countries have formulated favorable policies which are expected to facilitate the manufacturing of airbags. This factor provides opportunity to increase the growth rate of market, and thus allows manufacturers to set up industries at optimum capital investment and expand its presence worldwide. Innovations such as introduction of airbags in two wheelers is expected to boost this market. Most of the developing nations such as, India, China, South Africa, and Norway have introduced various schemes to establish the manufacturing industries. Thus, this presents an opportunity to the manufacturers to set up industries and increase the market size of their airbags industries.

The airbag market is segmented by module into inflator or gas generator and air bag, which is made up of fabric material. Further, the market is divided by type into front airbag, side airbag, knee airbag, and curtain airbag. Based on geography, it is analyzed across North America (U.S., Canada, and Mexico), Asia-Pacific (India, China, Japan, South Korea, and rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa), and Europe (UK, Germany, France, Italy, and rest of Europe).

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POTENTIAL BENEFITS FOR STAKEHOLDERS

• This report provides an in-depth analysis of the global airbag market, along with current trends and future estimations to identify lucrative investment pockets.
• Key drivers, opportunities, and restraints that impact the market are analyzed.
• Porter’s Five Forces analysis highlights the potency of buyers and suppliers to facilitate better business decision-making for stakeholders and strengthen their supplier and buyer networks.
• Market estimation of geographical regions is based on the current market scenario and future trends.

KEY MARKET SEGMENTS

The market is segmented on the basis of module, type, and geography

BY MODULE

• Inflator or Gas Generator
• Air Bag

BY TYPE

• Front Airbag
• Knee Airbag
• Side Airbag
• Curtain Airbag

BY GEOGRAPHY

• North America
• Europe
• Asia Pacific
• LAMEA

KEY PLAYERS

• Autoliv (Sweden)
• Delphi Automotive (UK)
• Takata Corporation (Japan)
• TRW Automotive (U.S.)
• Robert Bosch GmbH (Germany)
• Denso Corporation (Japan)
• Toyoda Gosei Corporation (Japan)
• Neaton Auto Products Manufacturing Incorporation (U.S.)
• Key Safety Systems (U.S.)
• Continental AG (Germany)

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This release was published on openPR.