A recent report by Persistence Market Research on ‘Automotive Airbag Market’ provides a detailed analysis on the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Customers willingness of to spend more on safety equipments within the vehicle is prompting multinational companies to invest more in this market. Some of the major companies operating in the global automotive airbag market are Delphi Automotive plc, TRW Automotive Holdings Corp., Key Safety Systems Inc., Tokai Rika Co. Ltd., Toyoda, Denso Corp., Takata Corp. and Autoliv Inc.
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Airbag is one of the automotive safety devices. Automotive airbag consists of flexible fabric envelope or cushion that is designed to inflate at the time of vehicle collision while driving. Main purpose of automotive airbag is to cushion driver during vehicle crash and protect the body when the body strike the interior objects of the vehicle such as the steering, wheel or window.
Modern vehicle are designed with multiple airbags situated in different side and frontal location of the person driving the vehicle. Automotive airbags are deployed with sensor which activates the airbags according to the type and severity of the collusion. Modern vehicle consists of airbag control unit which monitors different parts within the vehicle such as wheel speed, side door and break pressure.
On the bases of location of airbags within the vehicle global airbag market can be bifurcated into frontal airbag, side airbag, knee airbag, rear curtain airbag, centre airbag and seat cushion. Frontal airbag has the largest market share, followed by side airbags. Automotive are the major end-user of airbag technology. Other major end-users include aerospace and military aircrafts.
North America has the largest market share for automotive airbag technology, followed by Europe and Asia Pacific. The U.S. is the largest user of the airbag technology owing to technological advancement. Europe is on the verge of recovery from recession and is expected to witness average growth in coming future. Asia Pacific region is expected to witness highest growth in the forecasted future owing to increasing domestic demand of vehicle with added safety equipments within the vehicle.
Increasing number of deaths in road accident is accelerating demand for safety measures, increasing the global automotive airbags market. Additionally, safety regulations implied by the government agencies and increasing life expectancy is also driving the global airbag market. Rising disposable income level have influence the individuals to invest more on safety features within the vehicle, further increasing the demand for automotive airbags market to some extent. Also, increasing customer awareness about technological changes related to safety equipments within the vehicle may act as market drive in coming future. Airbag technology on two wheelers may provide growth opportunity for the market leaders.