SAN FRANCISCO, Feb. 20, 2019 /PRNewswire/ -- The global automotive airbag and seat belt market size is expected to reach USD 73.45 billion by 2025, according to a new study by Grand View Research, Inc. The market is estimated to expand at a CAGR of 5.9% during the forecast period. Various federal, state, and local regulations pertaining to the installation of basic passive safety systems is one of the major factors driving the market. Growing awareness among consumers about the importance of implementing safety systems in vehicles is also responsible for propelling the market growth.
Key suggestions from the report:
- Knee airbags segment is expected to register the highest CAGR of 7.7% over the estimated period due to added protection offered by these airbags
- The three point seat belt segment is projected to expand at a CAGR of 4.6% during the forecast period and is projected to remain the preferred choice in a majority of commercial and passenger vehicles
- The Asia Pacific (APAC) region is anticipated to register the highest CAGR over the forecast years due high product demand
- Presence of emerging nations including China and India who are expected to exhibit a significant growth, in terms of GDP and disposable income, will also boost APAC market
- Some of the key companies in the global automotive airbag and seat belt market include Autoliv, Inc.; Key Safety Systems (KSS); Robert Bosch GMBH; Continental AG; Toyoda Gosei Co., Ltd.; Hyundai Mobis Co., Ltd.; and ZF Friedrichshafen AG.
Read 122 page research report with TOC on "Automotive Airbag And Seat Belt Market Size, Share & Trends Analysis Report By End Use (Passenger, Commercial), By Type (Curtain, Knee, Side, Two Point, Three Point), By Region, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/automotive-airbag-seat-belt-market
Increasing consumer disposable income levels, particularly in emerging nations of Asia Pacific, Latin America, and Eastern Europe, are expected to have a positive impact on the market. Furthermore, the automotive market in these regions is witnessing considerable progress. Rising profitability of the automotive market consequently promotes the growth of the airbag and seatbelt market. Technological advancements and continuous product development have also augmented the demand for products, such as airbag and seat belts, thereby supporting market expansion.
The introduction of enhanced fabric technologies, new coating application, and inflatable and motorized seatbelts, are expected to drive the market further. As technologies mature over the forecast period, it would only act in favor of the industry players, since technological maturation would lead to lower prices, subsequently promoting the adoption of these products.
Grand View Research has segmented the global automotive airbag and seat belt market on the basis of type, end use, and region:
- Automotive Airbag and Seat Belt Type Outlook (Revenue, USD Million, 2014 - 2025)
- Airbag Type
- Curtain Airbag
- Front Airbag
- Knee Airbag
- Side Airbag
- Seat Belt Type
- Two Point
- Three Point
- Automotive Airbag and Seat Belt End Use Outlook (Revenue, USD Million, 2014 - 2025)
- AirbagEnd Use
- Passenger Vehicle
- Commercial Vehicle
- Seat Belt End Use
- Passenger Vehicle
- Commercial Vehicle
- Automotive Airbag and Seat Belt Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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