Industry Background:
An airbag, a vehicle safety device intended to punctually inflate through a collision and deflate after the accident. The efficacy of these airbags to decrease the impact of crashes is improved due to ongoing & innovative developments in airbag technology. The growing concerns about safety among consumers has led the demand for the airbags. Types of airbags used in automobiles includes front airbag, knee airbag, side airbag, as well as curtain airbag. These are used in passenger cars, commercial vehicles, as well as in electric vehicles.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Takata Corporation (Japan), ZF Friedrichshafen (Germany), Autoliv (Sweden), DENSO Corporation (Japan), Continental AG (Germany), Robert Bosch GmbH (Germany), Toshiba Corporation (Japan), Hyundai Mobis (South Korea), Takata Corporation (Japan) and TOYODA GOSEI CO., LTD. (Japan) |
This growth is primarily driven by Increasing Consumer Awareness Towards Vehicle Safety Features, Government Regulations Related To Vehicle Safety and Growing Number Of Road Accidents.
Globally, a noticeable market trend is evident Increasing Technological Advancements and Innovation Towards Vehicle Safety Features The Automobiles sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Takata Corporation (Japan), ZF Friedrichshafen (Germany), Autoliv (Sweden), DENSO Corporation (Japan), Continental AG (Germany), Robert Bosch GmbH (Germany), Toshiba Corporation (Japan), Hyundai Mobis (South Korea), Takata Corporation (Japan) and TOYODA GOSEI CO., LTD. (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
As of June 2019, side crashes are one of the most dangerous types of road traffic accidents, accounting for nearly 700 fatalities and nearly a third of all occupant deaths per year on German roads. A new pre-collision safety system prototype developed by ZF uses external side airbags that deploy milliseconds before a collision. By providing additional side crumple zones, it can save lives and reduce occupant injury severity by up to 40%. To make this possible, ZF has developed an algorithm that can network the airbags into the vehicle's sensor system, determine if a collision is imminent, and determine whether the airbags deploy.
Recently, Toyoda Gosei Co., Ltd. has jointly developed a new side airbag together with Toyota Motor Corporation. The new airbag contributes to vehicle crash safety assessment conformity in each region of the world and can be shared by various vehicle models. It is used on the new Camry and is scheduled for future use on about 2.5 million vehicles annually, including other models.
Regulatory Insights:
The United States government amended (FMVSS 208) Federal Motor Vehicle Safety Standard 208 to require cars produced after 1 April 1989 to be prepared with a passive restraint for the driver. An airbag or a seat belt would meet the necessities of the standard. Airbag introduction was stimulated by the National Highway Traffic Safety Administration. Though, airbags were not mandatory on light trucks until 1997. Moreover, some countries outside North America follow to internationalized European ECE vehicle &
Influencing Trend:
Increasing Technological Advancements and Innovation Towards Vehicle Safety Features
Market Growth Drivers:
Increasing Consumer Awareness Towards Vehicle Safety Features, Government Regulations Related To Vehicle Safety and Growing Number Of Road Accidents
Challenges:
Keeping The Balance Between Cost & Quality
Restraints:
Growing Advancement Of Active Safety Systems and High Replacement Cost
Opportunities:
Rising Demand For Electric Vehicles and Low Production Cost In Developing Nations
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automobile Safety Airbag Market
- Analysis about New Entrants in Automobile Safety Airbag Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automobile Safety Airbag Study Sheds Light on
The Automobile Safety Airbag Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automobile Safety Airbag industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automobile Safety Airbag industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.