- 12 April 2019 21:51
Automotive Airbag Market In North America Is Estimated To Grow At A Second-Highest Cagr Of Over 9%
Airbag is an automotive safety device made up of flexible fabric cushion, designed to inflate when a vehicle collides while driving. Primary function of automotive airbag is to cushion the passengers during a vehicle crash and to protect their body from striking the steering wheel, dashboard, or window. Enforcement of stringent safety regulation by government across globe is a major factor driving growth of the global Automotive Airbag Market . In addition, increasing number of road accidents has led to rising demand for safety solutions, which is another factor driving growth of the global market. Moreover, availability of pre-fitted airbag safety systems in some luxury and premium vehicles are other factors driving growth of the global market.
Among the application segments, the front airbag segment in the global automotive airbag market is estimated to account for majority share in terms of revenue in 2017, and this segment is projected to value at US$ 9,346.8 Mn in 2017.
Among the vehicle type segments, the passenger cars vehicle type segment is expected to contribute major share in terms of revenue of US$ 14,794 Mn in 2017, and is expected to continue its dominance by recording highest CAGR over the forecast period.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The automotive airbag market in Asia Pacific is estimated to account for major revenue share of US$ 6,453.9 Mn in 2017, and is expected to register highest CAGR in next ten years. The market in Europe is estimated to account for second highest revenue share in the global market.
Key players operating in the global automotive airbag market include Autoliv Inc., Takata Corporation, DENSO CORPORATION, Robert Bosch GmbH, Daicel Corporation, TOYODA GOSEI Co., Porcher Industries SA, ZF Friedrichshafen AG, Continental AG, Key Safety Systems, Inc. and Hyundai Mobis Co., Ltd.