Rising Road Accident Rates Is Majorly Fuelling the Growth Global Automotive Airbags Market
According to a new report published by Reports Monitor titled, “Global Automotive Airbags Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Automotive Airbags market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Airbags acts as an automobile safety restraint similar to seatbelts. It is a gas inflated cushions embedded into steering wheel, doors, roofs or seat of car. It uses a crash sensor to trigger a rapid expansion to protect the person from the impact of an accident.
Increase in the number death rates owing to the road accidents has raised the need for an efficient safety system, thereby escalating the market growth. Strict norms and regulations imposed by government regarding the mandatory adoption air bags in the automotive also supports in propelling the market growth. Adoption of advance technologies in the development of an efficient safety system also supports the growth of market. However, high initial investment coupled with competitive scenario is mainly restraining the growth of market.
This report provides a detailed analysis of Automotive Airbags market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and swot analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources with bottom-up and top-down approaches.
The automotive airbags market is majorly segmented on the basis of type and applications. Based on type, market is bifurcated into front airbag, knee airbag, side airbags and others, while on the basis of application market is segmented into: commercial and passenger cars
Global Automotive Airbag market is majorly analyzed across: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Growing Urbanization specifically in the developing economies has resulted in propelling the demand for automotive, hence contributing in the growth of Asia Pacific, while presence of major players and advancement in automotive sector majorly influences the growth of North America.
Major players operating in the automotive air bags market are: Takata Corporation, Denso Corporation, Toyoda Gosei Co. Ltd., Autoliv, Inc, Delphi Automotive PLC, Robert Bosch GmbH, Key Safety Systems Inc., Hyundai Mobis Co. Ltd, and Continental AG.
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