A recent report published by Infinium Global Research on automotive airbag market provides in-depth analysis of segments and sub-segments in global as well as regional automotive airbag market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional automotive airbag market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive airbag market. According to the report, the global automotive airbag market is projected to grow at a CAGR of 8.6% over the forecast period of 2018-2024.
Increased number of road accidents and increasing safety concerns are the key factors driving the growth of the automated airbags market. Moreover, the automotive airbag market is also driven by advancements in the plastic industry. In addition, rapid technological advances taking place in the automotive airbag industry has led to the rapid adoption of new technologies. However, airbags are only needed in developed markets which are a major factor hampering the growth of the global market of automotive airbags in the developing countries. Furthermore, the National Highway Transport Safety Administration of the U.S. approved a regulation authorizing for installation of airbags in passenger cars. Hence, this has increased the safety awareness among the consumers across the globe which is expected to increase the demand for airbag installation in passenger cars.
Increasing disposal income may have an impact on the individuals to invest more on the safety features within the vehicle which is expected to provide growth opportunities for the key players in the automotive airbags market. On the other hand, the stringent road safety government regulations and increased automotive safety awareness in various countries are anticipated to boost the growth of the global market in the near future.
Among the geographies, North America is expected to witness the largest share in automotive airbag market followed by Europe and the Asia-Pacific. Furthermore, increasing internal demand of vehicle with added safety equipment is within the vehicle in the Asia pacific region is expected to observer highest growth in the years to come. However, the U.S. is the largest user of the airbag technology owing to technological advancement.
The leading companies identified in the market are Delphi Automotive plc, TRW Automotive Holdings Corp., Key Safety Systems Inc., Tokai Rika Co. Ltd., Toyoda, Denso Corp., Takata Corp. and Autoliv Inc. Some of the competitors in the global automotive airbag market are General Motors, Volkswagen, and Toyota, Daimler, and Ford Motors.Furthermore, there is a rise in competition among automotive manufacturers owing to factors such as innovation and development time, reliability, fuel economy, safety, product quality & features, and pricing.
The report on global automotive airbag market covers segments such as, type and vehicle type. On the basis of type, the global automotive airbag market is categorized into the automotive front airbag, automotive side airbag, automotive curtain airbag and automotive knee airbag. On the basis of vehicle type the global automotive airbag market is categorized into commercial vehicles and passenger vehicles.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global automotive airbag market such as, Continental AG, Key Safety Systems, Neaton Auto Products Manufacturing Incorporation, Toyoda Gosei Corporation, Denso Corporation, Robert Bosch GmbH, TRW Automotive, Takata Corporation, Delphi Automotive and Autoliv.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global automotive airbag market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive airbag market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive airbag market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the automotive airbag market to understand the present and future trends in this market and formulate their strategies accordingly.