Luton, Bedfordshire, United Kingdom, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive Airbags market
"Automotive Airbags Market size was valued at USD 9.67 billion in 2019 and is projected to reach USD 22 billion by 2028, growing at a CAGR of 9.58%from 2020 to 2028."
Automotive airbags are the most commonly used protective devices in automobiles. Airbags are typically there to absorb an impact from a car accident and minimize damage, but some models can also inflate in the event of a fire or other hazardous situation. Automotive airbags have been a fixture in vehicles for decades, but as we continue to drive them more, and more often, the need for more airbags is critical. Understanding the application of airbags is paramount, their effect on our businesses, and how they can be tested for reliability. Automotive airbags are designed to protect the occupant of an automobile in the event of a collision. The main difference between the two types of airbags is the deployment mechanism. Both types are installed in cars and trucks, but the way they deploy depends on whether they are seat-mounted or knee-mounted.
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Some major players in the global Automotive Airbags market include: Aptiv Inc., Autoliv Inc., Calsonic Kansei Corporation (Mareli), Continental AG, Delphi Automotive, Denso Corporation, Hella GmbH & Co. KGaA, Hyundai Mobis Co. Ltd, INVISTA, Joyson Safety Systems, Magna International, Nihon Plastic Company Co. Ltd, Robert Bosch GmbH, Takata Corporation, Toyota Gosei, Valeo SA, ZF Friedrichshafen.
Market Scenario:
Key elements that are anticipated to propel the global automotive airbag market during the forecast period include a rise in consumer preference for personal vehicles, stricter safety regulations for vehicles, government funding to improve vehicle safety, a rise in public awareness of vehicle safety features, a rise in demand for automotive airbags, including customised curtain airbags, and a rise in passenger vehicle production. In addition, the government's support for reducing air pollution and strict emission standards are likely to promote the use of electronic vehicles. In the near future, this is anticipated to present industry players with attractive chances.
Regional Insights:
Europe has been a lucrative region in the automotive airbag market. The region is anticipated to hold a prominent share during the forecast period. The revenue potential has been enriched by the production of cars with cutting-edge occupant safety features, particularly for cars made in Germany.
In terms of revenue, the automotive airbag market was dominated by Asia Pacific in 2021. The income prospects have been solidified by China's well-established automobile manufacturing sector and improvements made to vehicle safety features for vehicles sold in India and Japan.
As a part of Automotive Airbags market segmentation, our study exhibits a market analysis based on type, Market application and Historic Data:
| Attributes | Details (Current Scenario) |
| Base-Year | 2020-2021 |
| Historic Data | 2019-2020 |
| Forecast Period | 2022-2028 |
| Regions Covered |
|
| By Type |
|
| By Application |
|
| CAGR (XX%) | 9.58% (Current Market Analysis) |
| Customization Available | Yes, the report can be customized as per your need. (Free 15% Customization) |
| Delivery Format | PDF, and Excel through Email |
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Key Developments
January 2022 A definitive agreement to buy Wind River from TPG Capital, the private equity arm of the multinational alternative asset management company TPG, for USD 4.3 billion in cash was announced today by Aptiv PLC, a global technology company specialising in making mobility safer, greener, and more connected.
November 2021 One of the top producers of motorcycles and scooters, Piaggio Group, and Autoliv Inc. established a strategic alliance. The collaboration is concentrated on the creation of powered two-wheeler airbags for increased safety.
Important insights in Automotive Airbags market research report:
- Underlying macro- and microeconomic factors impacting the Sales of Automotive Airbags
- Basic overview of the Automotive Airbags, including market definition, classification, and applications.
- Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend and supply side analysis of Automotive Airbags across various industries.
- Important regions and countries offering lucrative opportunities to market stakeholders.
Frequently Asked Questions about This Report:
- Who are the leading market players active in the Automotive Airbags market?
- What is expected to the growth rate of Automotive Airbags market?
- What are the driving features, restraints, and opportunities in the market?
- What are the latest trends in Automotive Airbags market?
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