Global Automotive Airbag Market to Reach USD 23.4 Billion by 2028

According to the latest research by SkyQuest Technology, the Global Automotive Airbag Market was valued at USD 10.7 billion in 2021, and it is expected to reach USD 23.4 billion by 2028, with a CAGR of 6.4% during the forecast period of 2022 - 2028. The research provides up-to-date Automotive Airbag market analysis of the current market landscape, latest trends, drivers, and overall market environment.

Around 1.3 million people per year lose their lives in traffic accidents, according to WHO. Between 20 and 50 million additional people are affected by nonfatal injuries, and many of them end up with disabilities as a result. Road traffic accidents lead to substantial financial losses for people, their families, and entire nations. These losses are brought on by the cost of medical care, lost wages as a consequence of the time that family members must take off from work or school to care for the injured, and the expenses related to treating individuals who pass away or develop disabilities as a result of their injuries. Most countries have an annual loss of 3% of their gross domestic product due to road accidents.

Get Full Industry Research PDH Here: https://skyquestt.com/report/automotive-airbag-market

Government regulation mandates the installation of airbags in both commercial and passenger vehicles everywhere. Thereafter, it is projected that the market for car airbags will expand. The development of sensors in cars to gather data that ensures various control units interact better is expected to cause the automotive airbag business to see substantial change during the projected period. This includes airbags, belt tensioners, and other vehicle features that can instantly detect an impending collision.

Click Here to Download and Understand Latest Key Trends: https://skyquestt.com/sample-request/automotive-airbag-market

Read market research report, "Global Automotive Airbag Market By Type (Front, Side, Knee, Curtain), Vehicle Type (Passenger Car, Commercial Vehicle), and Region -Forecast and Analysis 2022-2028" by SkyQuest

The automotive airbag market will likely be dominated by Europe. Due to severe government rules pertaining to the security of pedestrians and passengers in vehicles. France, the UK, and Sweden actively publicise the findings of the Euro NCAP. Sweden is pushing its internal transportation policy, which mandates that vehicles used for official activity have a 5-star safety rating. Over the course of the projected period, North America's market share is expected to rise significantly. The Intermodal Surface Transportation Efficiency Act of 1991 mandates airbags for both light-duty commercial vehicles and passenger cars. As a result, the market for automobile airbags in this region is growing. A good growth rate is also projected for the Asia-Pacific region. It is anticipated that increased car production and sales in developing nations like China and India will boost market progress in the region. The Asia Pacific market is projected to benefit from consumers' rising understanding of the value of car safety systems.

The prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players are Joyson Safety Systems, Toyota Gosei, Hyundai Mobis, Ashimori, Jin Heng among others.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Automotive Airbag Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.

Report Findings
Drivers- The expanding automotive sector is driving growth in the global market for automotive airbags. Rising advancements and the incorporation of advanced features in new vehicle models are enhancing the automotive sector, providing momentum to the expansion of the automotive airbag market. This is related to the installation of severe government laws governing the deployment of airbags in new vehicles. Furthermore, developments in the ADAS system are driving the market for automotive airbags in personal vehicle applications. Furthermore, with the development of driverless vehicles, the market is expected to rise rapidly during the forecast period.

Restraint- Lack of government initiatives to promote car airbags as a component of road safety is a constraint on the growth of the automotive airbag industry. The lack of government authorities to enforce appropriate traffic regulations in rural areas of developing and underdeveloped countries is another significant barrier to consumer adoption of automotive airbags. This is anticipated to have a negative impact on market growth during the forecast period.

What does this Report Deliver?
Market Estimation for 20+ Countries
Automotive Airbag Market demand by Region, Sub-Region, and Country
Customization on Segments, Regions, and Company Profiles
100+ tables, 150+ Figures
Global, Regional and Country specific Automotive Airbag Market Trends
Comprehensive Mapping of Automotive Airbag Industry Parameters
Attractive Investment Proposition in the Global Automotive Airbag Industry
Competitive Strategies Adopted by Automotive Airbag Market Key Players
Drivers, Restraints, Opportunities, Challenges and the impact on the Automotive Airbag Market Size
Market growth rate till 2028
Regulatory scenario, regional dynamics, and Automotive Airbag market insights of leading countries in each region
In-depth Market insights by Region and Country
Market Segmentation Trend Analysis, Opportunities and Growth
Porter's five force analysis to know the market's condition
Pricing Analysis and Automotive Airbag Market Sales
Parent market analysis
Product portfolio benchmarking

Speak with our analyst for more information: https://skyquestt.com/speak-with-analyst/automotive-airbag-market

SkyQuest has segmented the Global Automotive Airbag Market based on Type, Vehicle Type, and Region:
Global Automotive Airbag Market by Type (Revenue, USD billion, 2022 - 2028)
Front
Side
Knee
Curtain
Global Automotive Airbag Market by Vehicle Type (Revenue, USD billion, 2022 - 2028)
Passenger Car
Commercial Vehicle
Global Automotive Airbag Market By Region (Revenue, USD billion, 2022 - 2028)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia Pacific
Central & South America
Brazil
Rest of CSA
Middle East & Africa
GCC Countries
South Africa
Rest of MEA

Key Players in the Global Automotive Airbag Market
Autoliv (Sweden)
Joyson Safety Systems (US)
ZF-TRW (US)
Toyota Gosei (Japan)
Hyundai Mobis (South Korea)
Nihon Plast (Japan)
Ashimori (Japan)
Jin Heng (China)

About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

Address:
1 Apache Way, Westford, Massachusetts 01886
Phone:
USA (+1) 617-230-0741
Email: sales@skyquestt.com

This release was published on openPR.