February 12, 2020
As per the report titled ‘Automotive Airbags Market Size By Position (Frontal, Side, Side Curtain, Knee), By Fabric (Coated, Non-coated), By Vehicle (Passenger Vehicles, Commercial Vehicles), By Distribution Channel (OEM, Aftermarket), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, China, India, Japan, Australia, South Korea, Thailand, Indonesia, Brazil, Mexico, Argentina, Chile, UAE, Saudi Arabia, South Africa, Iran), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global automotive airbags market is projected to grow significantly through 2025.
Rising awareness regarding road safety, in tandem with growing demand for passenger vehicles across the globe is fueling the growth of automotive airbags market. Stringent norms to improve safety features of vehicles, initiatives towards reducing number of road accidents, and technological advancements such as smart airbags and rollover airbags will enhance the business outlook in the coming years. These airbags feature supplementary restraint system (SRS) which offer better safety as compared to legacy seatbelts in vehicles.
In terms of the position, frontal airbags segment is projected to grow substantially in the coming years, on account of its crucial ability to reduce a possible heady injury. These airbags ensure the safety of front seat passengers in case of frontal impact, hence are being used widely in vehicles.
Based on fabric type, automotive airbags market from coated segment is projected to register a high growth rate during the analysis period. Airbags coated with chemicals such as silicon have high product strength. Silicon coating prevents damaging of airbag upon inflation.
Based on the vehicle type, passenger vehicle segment currently dominates the automotive airbags market, owing to better safety features offering in passenger vehicles. Moreover, manufacturers are installing side airbags, knee airbags, along with frontal airbags to ensure passenger safety.
Speaking of the distribution channel, OEM segment holds a significant market share presently. Favorable government norms and policies such as installation of at least two airbags, along with rising focus of OEMs towards providing technologically advanced products are augmenting the segment growth.
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Considering the geographical outlook, North America automotive airbags market will witness a significant growth over the analysis period, owing to the dense presence of automotive manufacturers in the region. Additionally, favorable government regulations for airbag implementation in vehicles is enhancing the regional outlook.
Prominent players of automotive airbags market are ZF Friedrichshafen AG, Autoliv, Inc., Key Safety Systems (KSS), Toyoda Gosei, and Nihon Plast Co. Ltd. among others.
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