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About this market
Increasing popularity of side airbags in mid-range and entry-level vehicles to drive market growth. Side airbags, which are part of the passive safety system, are inflatable devices that protect the passengers and driver's head and chest in a side-impact crash. Increasing concerns about automotive safety among consumers from various socioeconomic groups is accelerating the demand for enhanced safety features like curtain airbags across all automotive segments, which include mid-range and entry-level segments. In many developing economies such as China. India, and Brazil, side airbags are mostly limited to luxury cars and a few other passenger car segments. Most of the entry-level cars sold by OEMs in developing regions are not fitted with side airbags. ’ s analysts have predicted that the automotive side airbags market will register a CAGR of over 6% by 2023.
Market Overview
Growing importance of crash test and NCAP ratings
Governments worldwide disclose the crash test ratings of automobiles for the benefit of automobile manufacturers, customers, and vendors. These ratings are published on several government and non-government portals such as NHTSA, New Car Assessment Program for Southeast Asia (ASEAN NCAP). and European New Car Assessment Program (Euro NCAP). The growing acceptance of safety certifications has pushed automotive manufacturers to manufacture vehicles that comply with safety standards. The NCAP rating for each automobile is based on the assessment carried out for occupant, pedestrian, and child protection systems.
Lack of regulation for airbags in medium and heavy-duty vehicles
Although airbags are responsible for saving thousands of lives annually, the traffic safety regulators worldwide have not mandated the presence of airbags in medium- and heavy-duty vehicles (HCVs). For instance, in the US, the Department of Transportation conducted a commercial truck crashworthiness standards study, which considered roof strength, airbags, occupant protection standards, and several other issues.
For the detailed list of factors that will drive and challenge the growth of the automotive side airbags market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Autoliv and HYUNDAI MOBIS the competitive environment is quite intense. Factors such as the increasing popularity of side airbags in mid-range and entry-level vehicles and the growing importance of crash test and NCAP ratings, will provide considerable growth opportunities to automotive side airbags manufactures. Autoliv, HYUNDAI MOBIS, Joyson Safety Systems, Toyoda Gosei, and ZF Friedrichshafen are some of the major companies covered in this report.
Increasing popularity of side airbags in mid-range and entry-level vehicles to drive market growth. Side airbags, which are part of the passive safety system, are inflatable devices that protect the passengers and driver's head and chest in a side-impact crash. Increasing concerns about automotive safety among consumers from various socioeconomic groups is accelerating the demand for enhanced safety features like curtain airbags across all automotive segments, which include mid-range and entry-level segments. In many developing economies such as China. India, and Brazil, side airbags are mostly limited to luxury cars and a few other passenger car segments. Most of the entry-level cars sold by OEMs in developing regions are not fitted with side airbags. ’ s analysts have predicted that the automotive side airbags market will register a CAGR of over 6% by 2023.
Market Overview
Growing importance of crash test and NCAP ratings
Governments worldwide disclose the crash test ratings of automobiles for the benefit of automobile manufacturers, customers, and vendors. These ratings are published on several government and non-government portals such as NHTSA, New Car Assessment Program for Southeast Asia (ASEAN NCAP). and European New Car Assessment Program (Euro NCAP). The growing acceptance of safety certifications has pushed automotive manufacturers to manufacture vehicles that comply with safety standards. The NCAP rating for each automobile is based on the assessment carried out for occupant, pedestrian, and child protection systems.
Lack of regulation for airbags in medium and heavy-duty vehicles
Although airbags are responsible for saving thousands of lives annually, the traffic safety regulators worldwide have not mandated the presence of airbags in medium- and heavy-duty vehicles (HCVs). For instance, in the US, the Department of Transportation conducted a commercial truck crashworthiness standards study, which considered roof strength, airbags, occupant protection standards, and several other issues.
For the detailed list of factors that will drive and challenge the growth of the automotive side airbags market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Autoliv and HYUNDAI MOBIS the competitive environment is quite intense. Factors such as the increasing popularity of side airbags in mid-range and entry-level vehicles and the growing importance of crash test and NCAP ratings, will provide considerable growth opportunities to automotive side airbags manufactures. Autoliv, HYUNDAI MOBIS, Joyson Safety Systems, Toyoda Gosei, and ZF Friedrichshafen are some of the major companies covered in this report.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
