Automotive Airbag Market Size, and Share – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025

Automotive Airbag Market

Airbag is a safety device used in vehicles. Airbag is a flexible fabric bag, which is designed to protect driver and other passengers in a car in case of a crash or an accident. When a collision is detected, airbag inflates in few milliseconds and forms a barrier between the driver, the steering wheel, front glass, and other parts of the vehicle. Thus, it can protect passengers from severe injuries.

Rising number of road accidents is major factor, boosting growth of the market

Increasing number of road accidents and rising safety concerns are major factors expected to drive growth of the global automotive airbag marker over the forecast period. According to World Health Organization (WHO), in January 2018, around 1.3 million road accidents occur every year globally, of which, about 93% road traffic death occurs in emerging economies. Therefore, governments of various countries are implementing stringent standards and regulations for safety to reduce fatalities and limit injuries due to accidents, by mandating installation of airbags in vehicles. For instance, from October 2017, in India, Ministry of Road Transport and Highways has made airbags mandatory, in all new car models and for clearance of frontal and side crash tests along with pedestrian protection tests. These factors are expected to propel demand for automotive airbags over the forecast period.

Request Sample Copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/1348

However, airbags inflate only once and therefore, after initial collision, it becomes ineffective to protect passengers from further impact. Furthermore, these are relatively expensive, hence installation of airbag every time it becomes ineffective, is not affordable. These factors are expected to hinder growth of the market.

Automotive Airbag Market: Competitive Background

Major players operating in the global automotive airbag market are Autoliv, Inc., Robert Bosch GMBH, Continental AG, Delphi Automotive PLC, Denso Corporation, Takata Corporation, Toyoda Gosei Co., Ltd., Nihon Plast Co. Ltd., Hyundai Mobis Co., Ltd., and Key Safety Systems Inc.

Automotive Airbag Market: Regional Insights

The global automotive airbag market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, and Middle East, and Africa. North America accounted for largest share in the global automotive airbag market in 2016. This growth is attributed to implementation of stringent regulation by governments for passenger safety. For instance, The US Highway Safety Act of 1991 mandates use of airbags and ABS features in all passenger cars. The United States New Car Assessment Program (US NCAP) rates vehicles for safety in order to improve safety features in the vehicles and passenger safety. This is expected to in turn, increase installation of safety features such as airbags in vehicles, which propel growth of the automotive airbags systems market.

For More Information https://www.coherentmarketinsights.com/ongoing-insight/automotive-airbag-market-1348

You may be interested

Medical Cannabis Market | Global Trends, and Forecast to 2025
Healthcare
Healthcare

Medical Cannabis Market | Global Trends, and Forecast to 2025

Albert R - April 21, 2018

Increasing approval of medicinal cannabis products and growing research and development activities in the medical cannabis market are expected to support the growth of the market. For…

Familial Amyloid Cardiomyopathy Treatment Market-Moving Towards a Brighter Future
Healthcare
Healthcare

Familial Amyloid Cardiomyopathy Treatment Market-Moving Towards a Brighter Future

Albert R - April 21, 2018

Aggregation and deposition of mutant and wild-type transthyretin protein (TTR) in heart results in familial amyloid cardiomyopathy, which typically occur after age of 60. Familial amyloid cardiomyopathy…

3D Cell Culture Market To Witness Robust Expansion by 2024
Healthcare
Healthcare

3D Cell Culture Market To Witness Robust Expansion by 2024

Albert R - April 21, 2018

3D cell culture is group of biological cells that are allowed to grow in artificial media in all three dimensions. It is used in drug discovery and…

Most from this category