Global Market Insights added Most up-to-date research on “Automotive Airbags Market: Global Industry Share, Trends and Forecast, 2019 – 2025″ to its huge collection of research reports.
This Research study on the Global Automotive Airbags Market offers detailed and insightful information on major regional markets and related sub-markets.
Rising vehicle accidents and crashes with increasing on-road traffic will drive the automotive airbags 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. For instance, in 2017, Chevrolet Mexico updated the Aveo model with two standard air bags.
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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.
Increasing regulations regarding airbag installation will propel the market size. 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 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.
Increasing product recalls and inefficient safety system will limit the automotive airbags 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 product demand. However, rising vehicle tests will positively influence the industry proliferation in next six years.
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.
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Coated segment leads the 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.
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.
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. Aftermarket is at nascent stage and will witness significant growth with increasing vehicle crashes and accidents.
Europe holds significant share in the automotive airbags 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. In October 2017, Government of India instructed the vehicle manufacturers to incorporate frontal airbags. Such initiatives will drive product demand in next six years.
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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