Pune, Oct. 21, 2020 (GLOBE NEWSWIRE) -- The global automotive airbags market size is expected to reach USD 20.13 billion by 2027, exhibiting a CAGR of 9.6% during the forecast period. The increasing cases of fatal injuries caused by road accidents will propel the growth of the market during the forecast period, states Fortune Business Insights, in a report, titled “Automotive Airbags Market Size, Share & COVID-19 Impact Analysis, By Application (Knee, Side, Front, Curtain), By Vehicle Type (Passenger Car, Commercial Vehicle) and Regional Forecast, 2020-2027.” The market size stood at USD 9.67 billion in 2019.
The coronavirus incident has caused colossal financial damage to several industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
The report on the automotive airbags market Includes:
- Outstanding analysis of the market
- A comprehensive investigation of the segments
- Imperative data about key players
- Vital market trends and drivers
- Leading regions in terms of maximum share
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Market Driver:
Growing Cognizance about Road Safety to Spur Business Opportunities
The growing awareness regarding road safety against accidents will create lucrative business opportunities for the market. The advancements in cars are expected to bolster the healthy growth of the market for automotive airbags. The rising disposable income will subsequently elevate the market potential in the forthcoming years. The growing investments to integrate additional safety features by automotive companies will aid the development of the market. Increasing consumer spending is expected to bode well for the market. The growing adoption of active and passive safety systems in automobiles to offer better comfort and driving experience will favor the healthy growth of the market.
Diminished Automobile Production to Disrupt Business Amid Coronavirus
The disruption in the supply chain has resulted in a massive loss for the automotive industry, thus critically affecting the growth of the market. The restriction on export and import activities of automotive parts has further led to a massive drop in production. However, the implementation of plans and strategies by players in the Indian market such as Hyundai and Maruti Suzuki will consequently help to recover the losses and smoothly initiate remunerative business.
Regional Analysis:
Stringent Safety Regulations to Promote Market in Europe
The market for automotive airbags in Europe is expected to dominate the global market owing to strict government regulations about pedestrian safety through vehicle design. For instance, Sweden is promoting its in-house travel policy to have a 5-star safety rating for vehicles that are used for official business.
North America is expected to dominate the global market during the forecast period owing to the mandated government laws regarding airbags in vehicles. According to the Intermodal Surface Transportation Efficiency Act of 1991, it is mandatory to have airbags in the passenger cars and light-duty commercial vehicles. Asia Pacific is expected to experience a rapid growth rate during the forecast period owing to the increasing production of advanced automotive in developing nations such as India and China. Increasing awareness about road safety will influence the healthy growth of the market in the region.
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Key Development:
May 2019: ZF Friedrichshafen AG announced to expand a network of investments and cooperation by acquiring a 90% market share of Simi Reality Motion Systems GmbH.
List of the Leading Companies Profiled in the Global Automotive Airbags Market are:
- ZF Friedrichshafen AG (Germany)
- Continental AG (Germany)
- Denso Corporation (Japan)
- Hyundai Mobis (South Korea)
- Autoliv (Sweden)
- Takata (Japan)
- Joyson Electronic (China)
- Robert Bosch GmbH (Germany)
- Other Players
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Automotive Airbags Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Knee
- Side
- Front
- Curtain
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
TOC Continued…!
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