Automotive Airbag Market

Automotive Airbag Market: Regulatory Mandates Across Several Nations Regarding
Safety of Passengers Driving Demand
According to Transparency Market Research TMR, which is a market intelligence
firm, players within the automotive airbag market are competing with each other and
this is expected to increase the competition level and degree of competition. Players
are also involving themselves in strategic mergers and acquisitions in order to make a
mock for themselves in the market. Leading players operating within the global
automotive airbag Market are: Autoliv, Takata Corporation, and TRW Automotive
Holdings. Established players are competing with each other based on the following
parameters: technology, performance, and praise. This competition among players has
actually hit the market in terms of innovation, observes transparency market
research.
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According to Transparency Market Research (TMR), the Global Automotive airbag
Market is expected to be worth US$29.72 bn by 2020. Asia Pacific is expected to be
the key market for automotive airbag. The rapid rise in the economy, gains in the
GDP, and flourishing automobile industry are some of the factors behind the Asia
Pacific automotive market. The rest of the world is also expected to witness high
growth within Automotive airbag Market. On the basis of type of airbags, this Market
is segmented into side airbag, front airbag, the airbag, and curtain airbag. Of these,
the front airbag is anticipated to lead in the market and cross US$15.21 bn by 2020.
The demand for front airbags is increasing significantly especially in the developed
Nations on account of stringent regulations regarding food safety. Since front airbags
are also utilized in Luanne cars and middle and cars, the segment is flourishing.
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Growing Number of Road Accidents Behind High Demand for Automotive Airbags
According to the report, the global increase in the number of road accidents is one
of the key factors pushing the demand for automotive air bags. Increase in the
number of accidents of also lead to the passing of several stringent road safety
regulations by the government which in turn has accelerated the demand for
automotive air bags. Several non-government organizations are also creating
awareness campaigns related to road safety and precautions which in turn will benefit
the automotive airbags market. Initiatives taken by various bodies such as the
national highway transport safety administration in the US, which has mandated the
installation of air bags in passenger vehicles will go a long way to words driving the
growth of the Automotive airbags market. Moreover, the rise in the awareness levels
about safety among the people in the world will also help this Market to grow.
Increased Adoption of Low Cost Airbags Dampening Growth of Market
It has been observed that due to the high cost, several original equipment
manufacturers are opting for the less-expensive airbags for medium-end and low-end
cars. Since cheaper airbags have no quality cushions, inflators, sensors, and low
resilience, their installation in passenger cars do not lift the risk of safety. However,
the trend of consumers opting for cheaper air bags for replacing their existing ones in
the cars continues to grow and this is expected to hamper the growth of high quality
automotive air bags market.
Use of Airbags in Low-end and Medium-end Cars to Drive Growth Opportuity
On a positive note however, the placement of airbags even in the low and cars are
providing growth opportunities for the airbags market globally. In order to meet the
requirements of consumers, many original equipment manufacturers are investing in
R&D so as to be able to manufacture durable and cheap air bags.
This review is based on TMR’s report titled, “Automotive Airbag Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”

Automotive Airbag Market

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