Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||959052|
|Published||Content info||184 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 184 Pages||
Global Airbag Electronics Market to Reach 264.8 Million Units by 2027
Amid the COVID-19 crisis, the global market for Airbag Electronics estimated at 182.2 Million Units in the year 2020, is projected to reach a revised size of 264.8 Million Units by 2027, growing at a CAGR of 5.5% over the analysis period 2020-2027. Compact Cars, one of the segments analyzed in the report, is projected to record a 7.1% CAGR and reach 76.9 Million Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Mid-Sized Cars segment is readjusted to a revised 6.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at 53.8 Million Units, While China is Forecast to Grow at 5% CAGR
The Airbag Electronics market in the U.S. is estimated at 53.8 Million Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 46.3 Million Units by the year 2027 trailing a CAGR of 5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR.
Premium Cars Segment to Record 4.7% CAGR
In the global Premium Cars segment, USA, Canada, Japan, China and Europe will drive the 4.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of 22.2 Million Units in the year 2020 will reach a projected size of 30.6 Million Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 30.2 Million Units by the year 2027.
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