The global automotive airbag market is estimated to value around US$ 19 Bn in 2017, and is projected to register a CAGR of 9.5% in terms of value during forecast period 2017–2026.
The report offers in-depth insights, revenue details, and other vital information regarding the global automotive airbag market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026.
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Governments of many countries have implemented road safety act for safety of individuals of their country. Increasing number of road accidents is a prime issue which essentially makes it important to implement these acts. In addition, major OEMs are initiating to provide preinstalled airbags in cars according to government regulations to provide safe and better driving experience to their customers.
The side airbag product type segment in the global automotive airbag market is estimated to account for revenue share of over 20% in 2017, owing to high adoption of combiner in sports car for safe driving assistance.
Asia Pacific market accounted for highest market share of over 20% in 2017 in the global automotive airbag market in terms of revenue, and is expected to continue its dominance over the forecast period.
The market in North America is estimated to grow at a second-highest CAGR of over 9%, owing to stringent government safety regulations, especially in the US. The market in Europe is expected to witness considerable growth owing to presence of major automakers in countries in this region.
The market of front airbag is on the verge of saturation due to low sale of passenger vehicles and installation of new airbag systems such as side airbag, which is expected to fuel growth of the side airbag market in countries in North America.
The vehicle type segments, the passenger cars vehicle type segment is expected to contribute major share in terms of revenue of US$ 14,794 Mn in 2017, and is expected to continue its dominance by recording highest CAGR over the forecast period.
Key players operating in the global automotive airbag market include Autoliv Inc., Takata Corporation, DENSO CORPORATION, Robert Bosch GmbH, Daicel Corporation, TOYODA GOSEI Co., Porcher Industries SA, ZF Friedrichshafen AG, Continental AG, Key Safety Systems, Inc. and Hyundai Mobis Co., Ltd.