The global automotive airbag market to grow at a CAGR of 10.16% during the period 2016-2020.
Global Automotive Airbag Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One of latest trends in the market is adoption of curtain airbags in low-cost and compact vehicles. Curtain airbags, which are part of the passive safety system, are inflatable devices that protect the passenger's and driver's head and chest in a side impact crash. The growing concerns about automotive safety among consumers from various socioeconomic groups are driving the demand for enhanced safety features like curtain airbags across all automotive segments, including low-cost and compact automobiles.
In many developing economies such as China, India, and Brazil, curtain airbags are restricted to luxury cars and very few other passenger car segments. Most of the low-end cars sold by OEMs in developing regions are not fitted with curtain airbags so as to attract price-sensitive customers and to improve sales figures.
Further, the report states that one major challenge in the market is rising number of vehicle recalls because of potential hazards caused by inflators in airbags. In 2016, the automotive industry witnessed a historical number of vehicle recalls by automakers because of hazardous inflators equipped by a leading player in the airbag market. Recalls are being done by Toyota, Nissan, Ferrari, and Mitsubishi among others in the US; these recalls add up to more than 12 million vehicles. In addition, in Japan, the transport ministry has recalled 7 million vehicles that were equipped with airbags from Takata.
Such manufacturing defects and potential hazards associated with the chemicals contained in the airbag inflators can affect the confidence of users and buyers of airbags. Such issues need to tackled well at the manufacturing and testing bases to earn the confidence of consumers on the safety benefits of having airbags installed in vehicles.
Other prominent vendors
- Key Safety Systems
- Hyundai Mobis
- Ningbo Joyson Electronic
- Nihon Plast
- Toyoda Gosei
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by type
Part 07: Geographical segmentation
Part 08: Market drivers
Part 09: Market challenges
Part 10: Market trends
Part 11: Vendor landscape
Part 12: Key vendor analysis
Part 13: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/dmrqcp/global_automotive
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SOURCE Research and Markets