Global Supplemental Restraint System Market Overview:
The supplemental restraint system is designed to keep vehicle occupants safe during a crash or collision. Increasing government initiative for road safety owing to the rise in the number of road accidents driving the demand for supplemental restraint systems. For instance, according to the U.S. Department of Transportation’s National Highway Traffic Safety Administration, 37,133 people died in motor vehicle crashes in 2017. Further, the growing automotive industry and growing awareness about passive safety systems in the developing economies increase the demand for supplemental restraint systems.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Application in the Passenger Vehicle Segment and Emphasizing On Development of Innovative Airbag Technology
Market Growth Drivers:
Growing Awareness about Passive Safety Systems, and Government Regulations Pertaining To the Implementation of Airbags
Challenges:
Development of Active Safety Systems for Vehicles
Restraints:
High Cost of Supplemental Restraint System and Stringent Government Regulations
Opportunities:
Growth in the Automotive Industry and Rising Demand from the Developing Economies
Competitive Landscape:
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Some of the key players profiled in the report are Takata (Japan), ZF TRW (United States), Autoliv (Sweden), Denso (Japan), Volvo (Sweden), Key Safety Systems (United States), Ford (United States), Toyoda-Gosei (Japan), Hyundai Motor Group (South Korea) and Nihon Plast (Japan). Additionally, following companies can also be profiled that are part of our coverage like Ashimori (Japan) and East Joy Long (China). Analyst at AMA Research see Japan Vendors to retain maximum share of Global Supplemental Restraint System market by 2028.
Latest Market Insights:
In April 2023, Autoliv, Inc., a world leader in automotive safety systems, planned to build a new state-of-the-art airbag cushion and fabric plant in Vietnam serving Asia. The investment in the new textile facility is aimed at meeting customer demand and the expanding future airbag production requirements of the growing Asian market. The new facility will be built in Ha Long Industrial Park, Amata City, located in northern Vietnam. The facility will showcase Autoliv's manufacturing capabilities by leveraging Manufacturing 4.0 concepts by integrating new technologies into its operations. This is Autoliv's first investment in Vietnam.
“Union Road Transport Ministry India, announced all the cars manufactured after 1st July 2019 will have to be equipped with airbags, seat-belt reminders, and alert systems for speed beyond 80 kph, reverse parking sensors and manual override over the central locking system for emergencies.”
What Can be Explored with the Supplemental Restraint System Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Supplemental Restraint System Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Supplemental Restraint System
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Supplemental Restraint System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Supplemental Restraint System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Supplemental Restraint System Providers, Potential Investors, Raw Material Suppliers, Government Associations, End Use Industries and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.