Global Airbag Market is estimated to reach $41.5 Billion by 2024 with CAGR of 9.3% between 2016 and 2024. Airbag is a safety product which automatically open and protect body sensitive areas such as head, eyes, and chest from injury, especially during accidents. The airbag consists of a folded fabric bag designed to open quickly inside the vehicle, instantly during the crash. It is a highly advanced technology that operates on sensors, bag, and inflation system automatically. The airbag provides passive safety electronic unit located on the frontal and side to the car for protection of the front seated driver and even the passengers. Growing population and rising traffic rush has increased acceptance of air bag in the market.
Global Airbag Market Size and Forecast, 2015 - 2024 (US$ Billion)
The major factors supporting growth of the global airbag market are government regulation standards and growing demand for safety in vehicles. Moreover, growing urbanization has increased the number of vehicles on road, supplementing the growth of market. However, anti-crash sensors and driverless cars would restrain the market. Additionally, smart airbag technology and air bags for two-wheelers would provide growth opportunities for the market in the coming years.
The global airbag market has been segmented by type, and geography. By type segment, the market is categorized into front airbag, side airbag, knee airbag, and curtain airbag.
Global Airbag market share by region, 2024 (value%)
By geography, the global airbag market is segmented into North America, Europe, Asia-Pacific, and Rest of the world (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the World covers South America, Middle East, and Africa.
Key players in the global airbag market are Continental AG, Delphi Automotive PLC, Denso Corporation, Toyoda Gosei Co., Ltd., Key Safety Systems Inc., Robert Bosch GmbH, Takata Corporation, Hyundai Mobis Co. Ltd., TRW automotive, and Autoliv Inc., among others.
The key takeaways from the report
- The report will provide a detailed analysis of Global Airbag Market with respect to major segments such as type and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Airbag Market from 2015 to 2024 has been included in the report
- Profile of the key players in the Global Airbag Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Airbag Market
- Front Airbag
- Side Airbag
- Knee Airbag
- Curtain Airbag
- North America
- Asia Pacific
- South Korea
- South America
- Middle East