Strict Government Regulations on Installation of Automotive Airbag Driving its Global Market to reach US$29.72 Bn by 2020

January 10, 2017 | Author: | Posted in Automotive

Automotive airbags are, at present, installed mostly in medium and luxury range cars (in terms of price). However, heavy investments in developing cheaper airbags that still meet the safety standards is a major factor boosting the automotive airbag market, according to Transparency Market Research. A recent report, titled “Automotive Airbag Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”, indicates that registering an 8.1% CAGR from 2014 to 2020, the global automotive airbag market is estimated to grow from US$ 17.24 billion in 2013 to US$ 29.72 billion by 2020.Rising demand for consumer safety, backed by strict government regulations regarding the installation of airbags are the primary forces driving the global automotive airbag market. In addition, the production of cars around the world is at an all-time high, further fueling the market for automotive airbags. However, the durability of cheaper airbags that can be deployed in low-cost cars continues to be a major challenge for the market. On the basis of type, the automotive airbag market is categorized into side airbag, front airbag, curtain airbag, and knee airbag. Of these, front airbags held the largest share of the overall automotive airbag market.

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By region, the global automotive airbag market is divided into North America, Europe, Asia Pacific, and Rest of the World. Among these, Asia Pacific led the market in 2013 with the largest share. In addition, the region is also estimated to be the most rapidly developing regional segment of the automotive airbag market, registering an 8.5% CAGR from 2014 to 2020. Factors such as changing buyers’ preferences, surge in vehicle demand, and improving lifestyle are contributing to the growth of the Asia Pacific automotive airbag market. Moreover, high-end research, heavy investments, and deployment of airbags in low-cost cars are expected to propel this region through 2020.Advancement in technology and laws for adopting airbag safety systems in passenger cars has fueled the demand for automotive airbag in North America and Europe. Rising consumer safety and comfort are expected to boost the markets in these regions over the forecast period.

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The leading players operating in the global automotive airbag market include TRW Automotive Holdings Corporation, Takata Corporation, Autoliv Inc., Key Safety Systems, and Delphi Automotive PLC. These players are profiled in the automotive airbag market research report on the basis of aspects such as company and financial overview, business strategy, recent developments, strengths, weaknesses, opportunities, and threats.The 57-page research study is a comprehensive and up-to-date database of information on the global automotive airbag market, designed to help investors and stakeholders formulate accurate business decisions. Latest research and market analysis tools such as Porter’s Five Forces Analysis and SWOT analysis, and inputs from industry experts lend an insightful perspective, making the report an invaluable source of information for those looking to be a part of the automotive airbag market.

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Automotive Airbag Market: By type
Front Airbag
Side Airbag
Knee Airbag
Curtain Airbag
Automotive Airbag Market: By geography
North America
Asia Pacific
Rest of the World

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