The global automotive airbag market produced around 181 million of units in 2015 and is expected to surpass 252 million of units by 2020, says Technavio.
Technavio has announced its latest market research report on automotive airbag during the forecast period, 2016-2020. This market analysis, under the automotive electronics vertical, discusses the major drivers and key emerging trends that will influence the growth of the global automotive airbag market during the forecast period. Some of the top vendors listed in this industry analysis include Autoliv, Takata, and ZF TRW.
According to the geographical segment, APAC will be the largest region in the global market, and is expected to produce more than 115 million units by 2020. India, China, South Korea, and Japan will emerge as the key revenue-generators.
“Curtains airbags are passive safety systems, and inflatable devices that protect the passenger’s and driver’s head and chest in a side impact crash. The implementation of various safety regulations is increasing the demand for enhanced safety features like curtain airbags in low-cost and compact automobiles. The vendors are also adopting these safety features in hatchbacks and other vehicle segments to attract more consumers and increase their profitability,” says Neelam Barua, a lead analyst at Technavio for research on automotive electronics.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Prioritizing of safety systems by OEMs, buyers, and regulatory bodies
The increasing public awareness of vehicle safety is rising the need for standard fitment in vehicles in addition to frontal and curtain airbags. The government is implementing crash test rating to provide various benefits to automobile manufacturers, customers, and vendors. These ratings are published by various government and non-government portals such as NHTSA, Euro NCAP, and ASEAN NCAP. The manufacturers are awarded safety certifications after clearing the tests, and this helps them attract more consumers. The various safety standards are based on an assessment done for pedestrian protection, occupant protection, and child protection systems.
Ensuring in-vehicle safety against fatalities due to vehicle rollover and side impacts
Airbag devices are designed to reduce fatalities during collisions and are attached to steering panels, front instrument panels, and sides of car doors. Several OEMs have also introduced curtain airbags that are mounted on the top of doors and roofs that protect passengers during side collisions and rollovers. The market is primarily driven by the rise in public concerns and awareness around vehicular safety.
Market dynamics for added safety features
The vendors are launching innovations and advanced technologies that cover the areas of safety, performance, and design as a strategy to differentiate products and to raise their market shares. The manufacturers are launching anti-lock braking systems that are designed to enhance the safety of the vehicles. The automobile players are providing smart and enhanced airbags such as curtain airbags, side airbags, and seatbelt airbags. Vehicles with innovative technologies and add-on features will aid the vendors to meet the stringent safety tests and attract more consumers.
Other prominent vendors identified in this report are Ashimori, Bosch, Delphi, Continental, Key Safety Systems, Daicel, Hyundai Mobis, Ningbo Joyson Electronic, Nihon Plast, and Toyoda Gosei.
This research report includes an in-depth analysis, market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Airbag Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Motorcycle Airbag Jacket Market 2016-2020
- Global Automotive Connectors Market 2016-2020
- Global Automotive Brake Booster Market 2016-2020
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