Global Airbag Market is estimated to reach $41.5 Billion by 2024 with CAGR of 9.3% between 2016 and 2024. Airbags are safety products, designed to automatically open and protect the body from serious injuries during accidents. It consists of folded textile bag that inflates rapidly inside the vehicle, immediately after collision. Airbags are controlled by the passive safety electronics unit and provides the best protection for the occupants. Manufacturers are focusing on developing advanced airbag fabric design, module design, combustible materials, and others. Increasing population and growing traffic rush has augmented the adoption of air bag in the market.
Increasing government regulation standards and rising demand for the safety of passengers in vehicles are the drivers propelling the growth of the global airbag market. Growing population, and rapid rise in the number of vehicles running on road also boost the growth of the market. Though, increasing popularity of driverless cars, and development of anti-crash sensors could pose challenge for the market growth. Additionally, rising demand for smart airbag technology could create several opportunities for the market in years to come.
The global airbag market has been categorized as type, and geography. Type segment is further bifurcated into curtain airbag, side airbag, knee airbag, and front airbag. By geography, the global airbag market is segmented into North America, Europe, Asia-Pacific, and Rest of the world (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the World covers South America, Middle East, and Africa.
Key players in the global airbag market are Delphi Automotive PLC, TRW automotive, Denso Corporation, Takata Corporation, Key Safety Systems Inc., Toyoda Gosei Co., Ltd., Continental AG, Robert Bosch GmbH, Hyundai Mobis Co. Ltd., and Autoliv Inc., among others.
The key takeaways from the report
- The report will provide a detailed analysis of Global Airbag Market with respect to major segments such as type and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Airbag Market from 2015 to 2024 has been included in the report
- Profile of the key players in the Global Airbag Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Airbag Market
- Curtain Airbag
- Side Airbag
- Knee Airbag
- Front Airbag
By geography segment
- North America
- Asia Pacific
- ·South Korea
- ·South America
- ·Middle East