Automotive Airbag Market to exceed $85 bn by 2025

Automotive Airbag Market size is set to surpass USD 85 billion by 2025, according to a new research report by Global Market Insights, Inc.
 

Rising vehicle accidents and crashes with increasing on-road traffic will drive the market size. 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.

 

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Shifting consumer preferences towards safer vehicle is escalating the automotive airbag market growth. Ongoing initiatives to increase safety awareness will drive the industry 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 market demand.
 

Automotive Airbag Market

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Increasing regulations regarding airbag installation will propel the market revenue. In December 2017, European Union mandated the automobile manufacturers to comply with production requirements and crash tests. According to NHTSA, airbag deployment reduced over 44,800 fatalities in the U.S. from 1987 to 2015. Moreover, organizations such as NCAP are carrying out crash assessment for new vehicle launches thereby enhancing the industry growth.

Continuous advancements in vehicle safety systems will drive the market share. 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. 

Browse key industry insights spread across 250 pages with 521 market data tables & 10 figures & charts from the report, “Automotive Airbag 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

Increasing product recalls and inefficient safety system will limit the market growth. In January 2019, Ford recalled around 149,650 vehicles fitted with Takata airbag. The faulty products exploded and shot shrapnel towards vehicle occupants. Further, deployment of counterfeit airbags in vehicles will hinder the market demand.


Frontal automotive airbags will witness strong growth through 2025 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 fuel the market penetration.

Coated fabric 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.

Commercial vehicles hold remarkable share in the market on account of high number of crashes involving heavy-duty vehicles. Commercial vehicle manufacturers are deploying systems to enhance vehicle safety, eventually influencing the market revenue.

OEM leads the market size owing to airbag deployment to enhance passenger safety. Vehicle manufacturers are deploying systems to ensure crashworthiness. In October 2018, Volkswagen launched Vento model with side air bags to attract more consumers.

Europe accounts for significant revenue 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 include Autoliv, Takata, ZF TRW, Continental, Toyoda Gosei, KSS, Nihon Plast etc. Market players are expanding manufacturing facilities to meet rising product demand.
 

 

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