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GIA announces the release of a comprehensive global report on Automotive Airbags markets. Global market for Automotive Airbags is projected to reach 555 million units by 2020, driven by increasing automobile production in developing countries, strict federal safety regulations, and growing consumer emphasis on occupant safety.
San Jose, California (PRWEB) July 03, 2014
Follow us on LinkedIn. Airbags represent the most important safety device in an automobile, given their ability to significantly reduce fatalities during head-on collisions. Airbags also help in protecting passengers and the driver even when unbelted. Airbags are passive restraint systems, which act as energy-absorbing buffers between the occupants and the hard interior surfaces of the vehicle thus protecting them impact during an accident. Airbags are typically mounted onto the steering wheel, the front instrument panel, and sides of the door, knee area, floor and ceiling. Growing consumer demand for safety, and stringent government safety legislations, and decline in costs are encouraging auto manufacturers to incorporate airbags in vehicle models. The rise in road accidents has resulted in several governments worldwide mandating installation of airbags in all types of automobiles. Growing adoption of in-vehicle safety systems by automotive manufacturers as a key factor for brand/model differentiation is also helping drive growth in the market.
In developing countries, front driver side airbags are witnessing strong demand largely as a result of the untapped market opportunities offered by the relatively low penetration of airbags in medium and low end vehicles. In developed markets such as the United States, Japan and Western Europe, demand is growing for new airbag modules such as curtain airbags. The market over the next few years will be driven by growing penetration of airbags in low-end automobile models. Also poised to drive demand are smart airbag systems capable of detecting the presence of both the passengers as well as their position within the compartment to provide integrated occupant protection. Smart sensors integrated in these airbags help sense an impending crash, its nature, the presence of occupants, their position, and determine the type of airbags to be fired and the force and speed at which they need to be deployed.
In China and India, front impact airbags are finding mainstream adoption and are already a standard factory fitment in almost all medium to high-end luxury cars. In the United States, Japan and Western Europe, strict implementation of automobile safety regulations have ensured 100% market penetration of front impact airbags, rendering them a standard feature in almost all the cars being manufactured. Amendments to existing vehicle safety standards and regulations will demand fitments of new airbags modules in the vehicle in addition to traditional front impact airbags, thereby creating opportunities for airbag manufacturers.
As stated by the new market research report on Automotive Airbags, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 12.7% over the analysis period. Growth in the region is led by economic prosperity, strong GDP gains, higher disposable incomes, rising vehicle ownership rates, development of road infrastructures, and shifting of automotive manufacturing bases to low cost Asian countries.
Key players covered in the report include Autoliv, Denso Corporation, Key Safety Systems Inc., Takata Corporation, Toyoda-Gosei Co. Ltd., and TRW Automotive Holdings Corp., among others.
The research report titled Automotive Airbags: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analysed in the report include Front-Impact Driver Airbags, Front-Impact Passenger Airbags, Side-Impact Airbags, and Other Automotive Airbags.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Automotive_Air_Bags_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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