Market Research Report
Global Airbag Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||918158|
Delivery time: 2-3 business days
|Global Airbag Market 2019-2025|
|Published: October 14, 2019||Content info:||
Market Size, Share & Trends Analysis Report, By Type (Front Airbag, Side Airbag, Curtain Airbag, and Knee Airbag), By Vehicle Segment (Passenger Cars and Commercial Vehicle) and Forecast, 2019-2025.
The global airbag market is growing at a significant CAGR during the forecast period. The factors which are increasing the market of the airbag are favorable government regulations, increasing road accident, and raising awareness of road safety. However, there is a considerable decline in the sales of vehicle all across the globe which are hampering the growth of the market. A decrease of 3.6% in vehicle sales have been registered globally in the first quarter of 2019. Vehicle recall due to defect in airbag is also one of the major factors restricting the growth of the market.
The global airbag market is divided by type and vehicle segment. By vehicle type, the market further segmented into a passenger vehicle, and commercial vehicle. The passenger vehicle segment is further segmented into Hatchback, Sedan, and SUV. By type, the market is divided into the front airbag, side airbag, curtain airbag, and knee airbag. A significant growth rate in the front airbag is expected due to strict government rules and regulations. By geography, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific is expected to dominate the global market in 2018. Major countries contributing to the vehicle market include China, Japan, India, and South Korea. China held the largest market share of cars and sold 23 million cars in 2018.
Key players of the airbag market include ZF Friedrichshafen AG, Aptiv PLC, Denso Corp., Daicel Corp., Key Safety Systems, Inc., Hyundai Mobis Co. Ltd., Toyoda Gosei Co., Ltd. And so on. These market players are contributing to the market by adopting various market approaches including product launch & approvals, merger & acquisition, partnerships & collaborations, and others for gaining a strong position in the market. They are also collaborating with universities and research institutes that work on safety technologies. As an instance, in July 2019 Toyoda Gosei Haiphong Co., Ltd. (TGHP), a subsidiary of Toyoda Gosei Co., Ltd., started a new plant in Vietnam. The company will manufacture 25 million airbag components annually after the completion of the plant.
The market study of the airbag market is 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 in various segments, derive 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 macro-economic 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, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
The report is intended for airbag manufacturer, supplier, trader, aftermarket companies, airbag manufacturer, existing companies and new entrants into the market, potential investors and venture capitalists, and government organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the company and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.