Automotive Airbag Market Likely To Surpass Us$ 63 Bn By 2027

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Automotive Airbag Market: Introduction

  • Automotive airbags are used in vehicles for the safety of passenger and driver in case of any accident or fatality
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Key Drivers and Restraints of Global Automotive Airbag Market

  • The automotive segment is one of the booming sectors presently and it is expected to grow significantly in the next few years prioritizing more on customer safety and comfort.
  • In alignment with government legislations regarding safety of drivers/passengers, automotive manufacturers are installing safety devices on a compulsory basis in cars. With technological innovations, consumers are more inclined toward adopting automotive safety products to ensure safety and comfort.
  • Airbags and seat belt restraint systems are sophisticated car occupant systems that represent the most rapidly growing market for safety devices in recent times.

Global Automotive Airbag Market: Segmentation

  • The global automotive airbag market has been segmented based on airbag type. Based on the type of airbag safety systems, the market is segmented into four types: front airbag, side airbag, knee airbag, and curtain airbag.
  • Asia pacific accounted for the largest market share in 2018, which is expected to lure heavy investment and at the same time high end research is expected to be carried out in the field of airbags. In addition, Improving lifestyles, vehicle demand and changing buyer’s preferences have ensured its dominance. The Asia Pacific automotive airbag market is likely to value more than US$ 34 billion by 2027, and is expected to be the fastest growing automotive airbag market in the coming years.

Global Automotive Airbag Market: Regional Segmentation

  • Based on region, the global Automotive Airbag Market can be segregated into North America, Asia Pacific, Europe, and Rest of World
  • Asia Pacific region led the global automotive airbag market in 2018. It is anticipated to hold a dominant share of the global market during the forecast period. Emergence of automotive industry in China, India and South Korea has been instrumental in boosting the share held by Asia Pacific in the global market.
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