Global Automotive Airbag Market 2016-2020
About Automotive Airbag
Airbags are automotive safety features in vehicles that are engineered to inflate at a rapid speed during the event of an accident or crash. The inflated airbags help in protecting the in-vehicle occupants in such occurrences. Therefore, these devices are categorized under automotive passive safety features. There are various types of airbags based on their application in vehicles, such as frontal airbags, side airbags, curtain airbags, and seatbelt airbags. The names of these airbags are associated with their strategic placements inside the vehicle. Technavio covers the market dynamics associated with the frontal and curtain airbags in this report.
Technavio’s analysts forecast the global automotive airbag market to grow at a CAGR of 10.16% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive airbag market for 2016-2020. To calculate the market size, the report covers the analysis and forecasts of the global automotive airbag market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Airbag Market 2016-2020
Technavio recognizes the following companies as the key players in the global automotive airbag market: Autoliv, Takata, and ZF TRW.
Other prominent vendors in the market are: Ashimori, Bosch, Delphi, Continental, Key Safety Systems, Daicel, Hyundai Mobis, Ningbo Joyson Electronic, Nihon Plast, and Toyoda Gosei.
Commenting on the report, an analyst from Technavio’s team said: “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.”
According to the report, one of the primary drivers in the market is ensuring in-vehicle safety against fatalities due to vehicle rollover and side impacts. Airbags are central to passenger safety in a moving vehicle because these devices are designed to reduce fatalities during collisions. Airbags are attached on steering panels, front instrument panels, and sides of car doors. These are common features and come as factory fit in almost all vehicles manufactured at present. Manufacturers have introduced curtain airbags that are mounted on the top of doors and roofs. Theseairbags protect passengers during side collisions and rollovers. Developing automotive markets such as China, India, the US, Japan, and Europe have high demand for curtain airbags. This growing demand can be attributed to public concerns and awareness around vehicular safety as well as rising automotive sales in emerging nations.
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.
Autoliv, Takata, ZF TRW, Ashimori, Bosch, Delphi, Continental, Key Safety Systems, Daicel, Hyundai Mobis, Ningbo Joyson Electronic, Nihon Plast, Toyoda Gosei.