The automotive airbag market is experiencing remarkable growth in the past decades. The report investigates the market shares, revenues, trends, and revenues. It helps to analyze the data assessments and specifics about the trending market strategies and their top grooming key players. The report reveals details about the volumetric and regional analysis of different regions such as North America, Germany, France, China, India, and South Korea. The report gives a clear image of the market’s applications, types, and product types. It even imparts information about the major challenges of the Covid 19 pandemic. This report gives a clear image of the current and future growth potential opportunities.
According to the research report, “Automotive Airbag Market: Current Analysis and Forecast (2021-2027)”, say that airbags are automotive safety features in vehicles that are engineered to inflate at a rapid speed during the event of an accident or crash. It consists of the airbag cushion, a flexible fabric bag, an inflation module, and an impact sensor. These inflated airbags help in protecting the in-vehicle occupants in such occurrences. During a crash, the vehicle’s crash sensors provide crucial information to the airbag electronic controller unit, including collision type, angle, and severity of impact. Hence, it reduces the risk of injuries between the flailing occupant and the interior of the vehicle. There are various types of airbags based on their application in vehicles, such as frontal airbags, side airbags, curtain airbags, and seatbelt airbags. All these devices are categorized under automotive passive safety features.
In 2021, the market was valued at a substantial USD billion and is projected to reach a significant USD billion in 2027. It is expected to grow by a single-digit CAGR during the forecast period. The market is segmented into a knee, frontal side, and curtain, with the frontal side accounting for the highest market shares in the sector. A huge difference is also made by the type of material used in the airbags. Nylon is acquiring the market by influencing customers with its key qualities such as high strength-to-weight ratio, good chemical, and thermal stability, durability, fine drape, abrasion resistance, and high flexibility. The global market is dominated by some top grooming companies owing to their critical strategic decisions, Robert Bosch GmbH, Aptiv Inc., Autoliv Inc., Continental AG, Delphi Automotive, Hyundai Mobis Co. Ltd, Nihon Plastic Company Co. Ltd, Takata Corporation, Toyoda Gosei, and ZF Friedrichshafen are.
The increasing number of road accidents has led to the imposition of safety regulations on various vehicles by the government of many countries. Countries such as North America (United States, Canada), Europe (Germany, UK, France), Asia-Pacific (China, Japan, India, South Korea). With the Asia Pacific ruling the market with the highest market share and is expected to maintain its dominance during the forecast period.
The covid 19 pandemic has negatively impacted the industry. The outbreak of Covid-19 has brought effects on many aspects, like flight cancellations, travel bans and quarantines, restaurants closed all indoor or outdoor events restricted. This has led to a massive fall in the market. For instance, Autoliv, one of the largest makers of the airbag, announced “unprecedented” challenges in the market during the second wave after Europe and North American markets reached the threshold in April owing to the pandemic.
However, with the increasing focus on passenger safety and the rising awareness of the usage of airbags, the demand for the installation of these devices in low-cost and compact vehicles will increase as well. The demand for high-speed vehicles is consistently increasing in the market. This has led to the rising awareness among the general population is one of the key factors that will boost the market growth in the forecast period.
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Global Automotive Airbag Market
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