Shifting consumer preferences towards vehicles that offer safer features is expected to influence automotive airbags industry outlook over the forecast timespan.
Automobile manufacturers are increasingly adopting crash avoidance measures at the time of vehicle engineering to ensure passenger safety. Industry players across automotive sector are providing minimum frontal airbags in order to reduce accident impact. For instance, Chevrolet Mexico updated its sedan segment model, Aveo with two standard air bags in 2017.
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Organizations such as NADA (National Automobile Dealers Association) are launching campaigns to raise awareness regarding life-saving capabilities of airbags. Automotive manufacturers are employing sensors that analyze passenger position and weight to calculate the solidity required by airbags in the compartment to bear impact.
Growing consumer awareness will augment product demand. In addition, ongoing initiatives by both regulatory bodies and automobile manufacturers to increase consumer safety are anticipated to boost automotive airbags market share. In terms of revenue, automotive airbags market size is forecast to surpass $85 billion by 2025.
Rising technological development to advance airbags such as rollover airbags and smart airbags with curtain & sensors and are estimated to transform market trends over the analysis period.
Automobile manufacturers are investing heavily in R&D to advance automotive safety products, increasing efficiencies of airbag and thereby increasing passenger safety. New airbags are being designed with SRS (supplementary restraint systems) to offer additional safety apart from the conventional lap-and-shoulder seatbelt used in automobiles. These advanced front center airbags enhance safety potential as they deploy from the right side of a driver and also provide protection against side crash.
The coated airbag segment is anticipated to garner considerable proceeds in market share owing to improved air inflating function. Chemical coated airbags such as silicon coated airbags offer high product strength and will hence augment product penetration across automotive sector.
High amount of heat is produced when the metal container inside the airbag explodes during an accident or collision. The silicon coating saves airbag from damage due to high temperature
resistance during the explosion. With superior product attributes, coated segment is anticipated to offer ample scope for growth over the forecast timeline.
In the regional landscape, North America is anticipated to become major revenue pocket for automotive airbags market over 2019-2025. Owing to higher presence of vehicle manufacturers across the region including Fiat, Ford and General Motors, market share is projected to showcase exponential growth.
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The automotive airbags market is expanding at a momentous pace due to growing adoption of airbags along with technological advancements in the product. Presence of major industry players across the region will also boost industry growth. Moreover, supportive U.S. government regulations to encourage the implementation of airbags for passenger safety are estimated to influence automotive airbags market trends over the forecast timespan.
Table of Contents (ToC) of the report:
Chapter 1. Methodology And Scope
1.1. Market Definitions
1.2. Base Estimation & Working
1.2.1. North America
1.3. Forecast Calculation
1.3.1. COVID-19 Impact Calculations On Industry Forecast
1.4. Data Sources
126.96.36.199. Paid Sources
188.8.131.52. Public Sources
Chapter 2. Executive Summary
2.1. Automotive Airbags Industry 3600 Synopsis, 2016-2026
2.1.1. Business Trends
2.1.2. Position Trends
2.1.3. Fabric Trends
2.1.4. Vehicle Trends
2.1.5. Distribution Channel Trends
2.1.6. Regional Trends
Chapter 3. Automotive Airbags Industry Insights
3.1. Industry Segmentation
3.2. Industry Landscape, 2016-2026
3.3. Industry Ecosystem Analysis
3.3.1. Raw Material Supplier
3.3.3. Profit Margin Analysis
3.3.4. Distribution Channel Analysis
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