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Automotive Airbag Market Survey | Demand, Depth Analysis and Estimated Forecast 2020-2030

Transparency Market Research has published a new report titled, “Global Automotive Airbag Market (Type: Front Airbag, Side Airbag, Knee Airbag, and Curtain Airbag) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.” According to the report, the global automotive airbag market is projected to surpass US$ 63 Bn by 2027, expanding at a CAGR of above 5.22% during the forecast period.

Global Automotive Airbag Market:

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Expansion of Global Automotive Airbag Market

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By airbag type, front airbag segment accounted the largest revenue share in 2018. Automotive front airbag market is growing steadily during the forecast period due to the stringent government regulations in developed regions such as the U.S., and Europe and it is expected that in next few years it will also be mandatory in India, and China. Deployment of airbag in low cost cars and increasing car production are the major factors fuelling the growth in this segment.

Regional Analysis of Global Automotive Airbag Market

In terms of region, the global Automotive Airbag Market has been segregated into North America, Europe, Asia Pacific, and rest of world.

Asia Pacific held the largest market share in 2018 and it is expected to be the fastest growing region with an estimated CAGR of more than 8% between 2019 and 2027. Improving lifestyles, vehicle demand and changing buyer’s preferences are the most important drivers for the growth of automotive airbags market in Asia Pacific region.

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Automotive airbags market in Europe will witness significant growth owing to mandates of deployment of several type of airbags in vehicle. The rising safety concern in automobile coupled with advancement in design of airbags will enhance the growth of market in Europe. For instance, ZF announced to develop external airbags systems which helps in reduction of injury severity up by 40%.

Significant advancements in airbags in terms of technology are directly contributing towards improved safety of driver and passenger with adaptive performance. Changing trends towards affordable passive safety systems provides potential growth prospects for the automotive airbag market. Moreover, expansion of cost-efficient safety technologies of airbags for frontal and side impact protection is gaining significant demand.

Major industry participants include Autoliv, Delphi Automotive PLC, Takata Corporation, TRW Automotive Holdings Corporation, Key Safety System, Hyundai Mobis, Porcher Industries SA, Daicel Corporation, Denso Corporation, and Continental AG.

Introduction of new product for airbags in market are providing potential opportunities for adoption of flexible and lightweight airbags.

The global Automotive Airbag Market has been segmented as follows:

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