Airbag Market Statistics, Trends, Analysis Size, Top Key Players and Growth Factors by 2030
Increasing demand for customer safety, stringency of safety regulations, and increase in sales of luxury vehicles are significant factors
VANCOUVER, BRITISH COLUMBIA, CANADA, November 4, 2022 /EINPresswire.com/ — The global airbag market size is expected to reach USD 57.45 Billion at a revenue CAGR of 7.6% in 2030, according to latest analysis by Emergen Research. Market revenue growth is attributed to rising cases of road accidents that have resulted in critical injuries and deaths which is increasing awareness among customers towards the use of airbags in automotive sectors. According to statistical figures from the National Safety Council of the U.S., 42,060 people died in car accidents in 2020. This increasing general public awareness is expected to drive revenue growth of the market during the forecast period. Also, with a rise in per capita income of customers, they are getting inclined towards spending more on pre-installed safety systems which in turn are allowing major firms with new investment prospects.
Moreover, comfort and driving experience of customers is improved by the introduction of active and passive safety systems in vehicles as consumers make their purchasing decisions on aspects such as trustworthiness, safety, and comfort. As a result, customer awareness of car safety rises, thereby driving market revenue growth over the forecast period.
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Airbags rapidly deploy and deflate at the appropriate times. Sensors determine the weight and location of passengers, the direction and force of impact, and the condition of the rollover. When an airbag deploys, sensors may already be activated. For instance, a small bump or pothole can set off the airbags.
Replace all sensors after an airbag deployment. After an airbag deployment, many electronic systems might need to be reset. When the steering wheel airbag deploys, the clock spring needs to be replaced if the SRS light illuminates, signalling a systemic issue. A qualified service facility should be the only one to replace an airbag.
Research Report on the airbag Market Addresses the Following Key Questions:
Who are the dominant players of the airbag market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the airbag market?
What are the key growth drivers and restraining factors of the airbag market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the airbag market and its key segments?
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The report bifurcates the airbag market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Emergen Research has segmented the global airbag market based on type, material type, airbag position, vehicle type, coating, sales channel:
Based on the types, the market is segmented into:
Type Outlook (Revenue, USD Billion; 2019-2030)
Material Type Outlook (Revenue, USD Billion; 2019-2030)
Airbag Position Outlook (Revenue, USD Billion; 2019-2030)
Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)
Light Commercial Vehicles (LCV)
Medium and Heavy Commercial Vehicles (M&HCV)
Coating Outlook (Revenue, USD Billion; 2019-2030)
Sales Channel Outlook (Revenue, USD Billion; 2019-2030)
Original Equipment Manufacturer (OEM)
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Regional Landscape section of the airbag report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Companies Profiled in the Report are:
Wacker Chemie AG, Mitsubishi Electric Corporation, Shin-Etsu Chemical Co. Ltd., Visteon Corporation, Denso Corporation, Toyobo Co. Ltd., Continental AG, Nihon Plast Co. Ltd., Toyoda Gosei Co. Ltd., ZF Friedrichshafen AG, Autoliv Inc., and Toray Industries Inc.
The secti on on the competitive landscape offers valuable and actionable insights related to the business sphere of the airbag market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Besides offering a vivid depiction of the global airbag business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2022-2030).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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