Global Air Bags Market 2022-2028

Global Airbag Market Size, Share & Trends Analysis Report by Type (Front Airbag, Side Airbag, Curtain Airbag, and Knee Airbag), and by Vehicle Segment (Passenger Cars and Commercial Vehicle) Forecast Period (2022-2028)

The global airbagmarket is anticipated to grow at a substantial CAGR of 7.3% during the forecast period.The major factor contributing to the growth of the airbag market includes government regulations.Efforts are being made by governments of developing countries such as India to increase safety and decrease fatal and non-fatal injuries is expected to contribute tothe growth of the global airbag market. For instance, Union Minister of Road Transport and Highways, Nitin Gadkari has announced through his official Twitter handle that a draft notification has been approved to make six airbags compulsory for vehicles in India in 2023. Followingthese stringent regulations imposed by the government, automakers are increasing the adoption of airbags in passenger cars to improve the safety of both drivers and passengers. For instance,recently launched in 2022, Kia Carens comes with 6-airbags as standard across all variants.

The global airbag market is segmented based on the type and vehicle segment. Based on the type, the market is segmented into front airbags, side airbags, curtain airbags, and knee airbags. Based on, the vehicle segment the market is sub-segmented into passenger cars and commercial vehicles. The above-mentioned segments can be customized as per the requirements.Based onthe vehicle segment, the passenger cars to emerge as the fastest-growing segment and areanticipated to dominate the market during the forecast period.This growth is attributed to increasing sales and production of passenger cars in developing countries due to improved lifestyles, infrastructure, and increased purchasing power of consumers.Airbags are provided as a typical feature in passenger cars for preventing fatalities due to accidents. The increasing strictness in government regulations concerning passenger safety is also likely to propel the market's growth.

Geographically the global airbagmarket is segmented into North America, Europe, Asia Pacific, and the Rest of the World.North America is anticipated to hold a considerable share in the airbag market owing to the adoption of stringent safety standards coupled with various safety guidelines taken by the government agencies like the National Highway Traffic Safety Administration (NHTSA) across countries in North America, such as the US. Rising awareness of safety will further drive the market in these regions.

The major companies serving the global airbagmarket include Aptiv Global Operations Ltd., Daicel Corp., DENSO Corp., Joyson Safety Systems Aschaffenburg GmbH, ZF Friedrichshafen AG, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In February 2022, Autoliv, Inc. and Nuro, an autonomous vehicle company announced a collaboration to ensure a high safety standard for Nuro's new third-generation, production-grade autonomous delivery vehicle.The new flagship model designed by Nuro features an exterior airbag by Autoliv which covers the front of the vehicle when inflated to protect other road users.

Research Methodology

The market study of the global airbag marketis incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of the market size, andintended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Airbag Market Research and Analysis by Type.

2. Global Airbag Market Research and Analysis by vehicle segment.

The Report Covers

• Comprehensive research methodology of the global airbag market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global airbagmarket.
• Insights about market determinants that are stimulating the global airbag market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.