Airbag Market Size, Share and Forecasts 2019-2026
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  • Airbag Market Size, Share and Forecasts 2019-2026

     



    (Transportation-News.com, March 24, 2020 ) Airbag Market Overview
    Global airbag market was valued at USD YY million in 2018.
    • It is valued at YY million in 2018 and expected to grow at a CAGR of over 2 % in the period of 2019-2026.
    • An airbag is a vehicle safety device designed to promptly inflate during a collision and deflate after the accident.
    • The main purpose of airbags is to reduce the crash impact during collisions.
    • The airbag aids in slowing down the occupants motion as evenly as possible in a fraction of a second during a crash scenario.

    Download free sample: https://www.datamintelligence.com/research-report/airbag-market

    Market Drivers
    • Increase in consumer awareness towards vehicle safety features,
    • The growth in automobile sector, and
    • Competition among OEMs
    • Rise in the number of fatal road accidents and the implementation of strict safety regulations by the government to prevent them.

    Market Dynamics
    • High replacement cost of airbags and low quality standards are the major factors restraining the growth of the global airbag market.
    • Under unfortunate circumstances, airbag being a safety device, there are chances that it fails. This leads to death or severe injuries to passengers.
    • This factor might also impede the growth of airbag market to a significant extent.
    • One of the major factors driving global airbag market is the increase in awareness towards vehicle safety features.
    • This increased awareness has further led to customers willing to invest more money for safety systems in automobiles.
    • There is an upsurge in the demand for automotive safety systems due to the increase in road accident deaths.
    • Among these incidents, airbag system is a point of consideration, which is a key factor boosting the growth of the market.

    NCAP and its impact on market
    • NCAP is a key program that rates vehicles based on their safety performance and crash tests.
    • The pressure on leading vehicle manufacturers to make their designs NCAP compliant is aiding growth.
    • Moreover, stringent safety regulations enacted by the government is also influencing the growth of the airbag market.
    • Usage of pedestrian airbags in few vehicles to protect pedestrians when they hit or collide with a moving vehicle is the latest trend which will further drive the market over the forecast period.
    Opportunity Analysis: Honda’s 2-wheeler Airbag System
    • Airbags for two-wheelers provides a tremendous opportunity for this industry.
    • Recently Honda announced the production of The Gold Wing equipped with motorcycle airbag system. This new system can help lessen the impact of injuries caused by frontal collisions.

    Geographical Share
    • Asia-Pacific region is anticipated to grow at a higher CAGR due to increase in demand for automobiles coupled with an increase in awareness regarding road safety.
    • Main countries contributing in airbag market are China and Japan.
    • Europe is a major market for passive safety systems and has a strong presence of players active in automotive safety.
    • Moreover, extensive research activities in various regions will be a vital growth factor in the coming years.

    Competitive Trends
    • Key leading players operating in global airbag market include Autoliv Inc., Key Safety Systems Inc., Takata Corporation and ZF Friedrichshafen AG among others.
    • The market players in airbag market are undergoing tie-ups with universities and research institutes that work on safety technologies.
    • The players in this market are adopting various business strategies which are not limited to providing quality safety products, R&D investments and wide distribution network.

    Scope of the Report
    • The report provides extensive qualitative and quantitative assessment of the present and future trends in global airbag market
    • It focuses on the various market dynamics that have an impact on the growth of the market
    • Recent industry trends and developments in airbag market
    • Focus on the regulatory framework for safety in automotive
    • Emphasis on various stages of product life cycle of airbag industry
    • Profiles of key players of the market and their recent developments, product portfolio, and other business strategies
    • Primary research findings that focus on the key trends and opportunities in the global airbag market.

    View full report: https://www.datamintelligence.com/research-report/airbag-market

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    About Us
    DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.

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    Email: info@datamintelligence.com
    Tel: +1 877 441 4866
    Website: www.datamintelligence.com

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