Automotive Airbag Market Sales Forecasts Reveal Positive Growth Through 2025
Automotive Airbag Market Overview:
Automotive Airbags have crucial role in the automotive industry; it protects the passenger or the driver during an unexpected mishap from sudden impacts. Airbags are the vital parts of safety mechanism integrated in almost all the automobiles. Generally, automotive airbags are classified into type products, such as front airbag, curtain airbag, side airbag and knee airbag. Further, they are segmented according to type of fabric, which could be either coated fabric or non-coated fabric.
Automotive Airbag Market:Dynamics
Automotive Airbags market is expected to grow alongside with automotive industry. Rising consumer demands due to increasing disposable income and preference of better living standards is expected to touch a compound annual market growth rate of 8.5 %. Another factor contributing significantly in the growth of the market is raising awareness towards road safety, as well as inclination towards innovative technologies, for instance- technologies to minimize the impact of an accident. Further, increasing number of accidents is generating demand of automobiles that are incorporated with airbags to avoid accidents. Furthermore, government of all the countries has established safety norms to install safety airbags in automobiles for the safety of passenger and driver.
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Automotive Airbag Market Segmentation:
On the basis of type, Automotive Airbag market is segmented into:
- Front Airbag
- Curtain Airbag
- Side Airbag
- Knee Airbag
Automotive Airbag Market:Regional Outlook
Geographically, Automotive Airbag market is segmented into North America, Latin America, Europe, Middle East Africa, Asia Pacific excluding Japan and Japan.Owing to rapid growth of automotive industry and implementation of stringent government regulations, Europe is estimated to account for sizable market share and it is expected to remain the dominant region during the forecast period. North America is anticipated to be next in the run followed by rest of the regions.
Automotive Airbag Market:Key Players
Some of the prominent players in theAutomotive Airbag market are:
- TRW Automotive Holdings Corporation
- Takata Corporation
- Delphi Automotive PLC
- Hyundai Mobis Co., Ltd.
- Toyoda Gosei Co.
- Denso Corporation
- Robert Bosch GmbH
- Continental AG
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RRI surveys a number of companies in order to estimate the data covered in the report through triangulation methodology. A detailed market understanding and assessment of the drive and application segments covered in the study. The research methodology also includes interviews conducted for various industry leaders by the research experts. This helps the researchers to match their previous findings with the ones confirmed from various resource persons. The report focuses on analyzing the supply-side approaches and keeps a track of that of the demand-side so as to make sure the findings are true. The global market scenario has been derived by consolidation of regional market overviews.