Selbyville, Delaware, May 09, 2019 (GLOBE NEWSWIRE) --
The automotive airbags market is predicted to hike from USD 59 billion in 2018 to over USD 85 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Rising vehicle accidents and crashes with increasing on-road traffic will drive the market size over the forecast period. Automobile manufacturers are adapting crash avoidance measures during vehicle engineering to ensure passenger safety. Automotive industry players are providing minimum frontal airbags to reduce accident severity.
Shifting consumer preferences towards safer vehicle is escalating the automotive airbags market growth. Ongoing initiatives to increase safety awareness will drive the product demand. Organizations such as National Automobile Dealers Association (NADA) are launching campaigns to raise awareness about lifesaving capabilities of airbags. Rising awareness among buyers will enhance the product demand in next six years.
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Continuous advancements in vehicle safety systems will drive the automotive airbags market share over the projected timeframe. Industry participants are developing smart airbag with sensors to avoid the injuries caused by airbags. The sensors analyze the passenger position, weight and calculates the hardness of the deployment of airbag from compartment.
Frontal automotive airbags market size will witness strong growth over the study timeframe owing to its deployment as a standard feature in majority of the vehicles. Driver and front seat passengers have high chances of getting hurt in case of any crash or accident. Development of innovative products with electronic control unit (ECU) to enhance product efficiency will drive the segment penetration. The sensors gather information and transfer signal to the system for its deployment.
Coated segment leads the automotive airbag market share with its use for majority of vehicle positions. Coating ensures smooth deployment and allows to deflate after reaching peak inflation pressure. Moreover, the coating controls fabric permeability, prevents from hot inflator gases and pinholes from hot particulates. Non-coated segment will witness steady growth over the study timeframe with its deployment for front passenger seat.
Browse key industry insights spread across 250 pages with 521 market data tables & 10 figures & charts from the report, “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” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-airbags-market
Commercial vehicles hold significant share in the automotive airbags market owing to high number of crashes involving heavy-duty vehicles. According to Federal Motor Carrier Safety Administration (FMCSA), in 2015, around 415,000 commercial vehicles reported crashed leading to over 3,800 fatalities. Commercial vehicle manufacturers are deploying systems to enhance vehicle safety thereby driving segment growth.
Europe holds significant share in the automotive airbag market owing to presence of major automobile manufacturers including BMW, Fiat, Ford, Daimler and DAF Trucks. Asia Pacific will witness strong growth with emergence of regulations mandating safety systems for vehicle occupants.
Key industry participants in the market includes Autoliv, Takata, ZF TRW, Continental, Toyoda Gosei, KSS, Nihon Plast etc. Industry players are expanding manufacturing facilities to meet rising product demand. In January 2019, Continental announced to expand the fabrication unit in India to manufacture airbag control units.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.