Automotive Side Airbags Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Automotive Side Airbags Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Automotive Side Airbags Market: Snapshot
The global automotive side airbags market is foreseen to witness a substantial growth due to rising sale of luxurious cars with all the safety features to minimize the impact of accidents. Increasing awareness about automotive safety features is expanding requirements for automotive side airbags in basic level or entry-level vehicles. Besides, several government authorities over the world have implementedregulations and guidelines that require automotive producers to give passive security frameworks, including automotive side airbags, This is reinforcing the development of the automotive side airbags market.
Consistent advancements in technology in airbags are essentially contributing towards improved passenger security with versatile execution for various occupant sizes. Rising inclination towards cost-effective passive safety framework is exhibiting potential development prospects for the automotive airbag frameworks market size. Further, improvement of cost-productive airbag security advancements for side and frontal effect assurance is picking up a highmomentum.
Developing unmistakable quality of vehicle safety prerequisites and crash tests are essentially contributing toward expanded airbag infiltration over the forecast period. Global New Car Assessment Program (NCAP) is successfully contributing in the popularity of safety frameworks for lessening the street fatalities and extreme wounds. Expanding purchaser awareness with respect to wellbeing levels and highlights of tested vehicles will boost the market size.
Stringent necessities for full frontal effect, offset frontal effect, and side effect tests are likely to boost the automotive airbags market size over the anticipated time period. Government bodies are creating laws and guidelines for imposing inhabitant security frameworks.
Automotive Side Airbags Market Introduction
Automotive side airbags are inflatable devices deployed in automobiles to protect occupants or passengers and the driver from head and chest injuries in a side-impact crash. Previously, automotive side airbags were limited to premium and luxury cars. However, growing awareness about automotive safety features is increasing needs for automotive side airbags in mid-range or entry-level vehicles. Furthermore, many governing bodies across the world have imposed rules and regulations that require automotive manufacturers to provide passive safety systems, including automotive side airbags, are bolstering the growth of the automotive side airbags market.
Automotive Side Airbags Market – Notable Developments
- ZF Friedrichshafen – a German car parts maker and a leading player in the automotive side airbags market – announced in November 2018, that it is designing ‘far-side’ and ‘dual contour’ airbags to cover extended passenger positions and improve occupant protection in far side crashes. The company announced that these innovative designs of automotive side airbags, which can be deployed immediately prior to a collision, are a part of its advanced external pre-crash system.
- Toyoda Gosei Corporation Ltd. – a Japanese manufacturer in the automotive side airbags market – announced, in February 2018, its collaboration with Nippon Kayaku Co., Ltd. – a Japanese explosive manufacturing company – to scale higher in the airbags business. The company is aiming to capitalize on Nippon Kayaku’s expertise in inflator manufacturing to strengthen its market position by improving supply and quality assurance systems for airbags globally.
- Takata Corporation – a Japanese manufacturer of automotive components as well as a leading player in the automotive side airbags market – was acquired by Joyson Safety Systems – an automotive safety systems manufacturer, in April 2018. Joyson Safety Systems received funding for the acquisition from a consortium led by Penske Automotive Group (PAG), a U.S.-based auto dealer, and Ningbo Joyson Electronic Corporation, a leading component supplier for global automotive manufacturers.
Some of the most prominent competitors operating in the competitive landscape of global automotive side airbags market include –
- Autoliv
- ZF Friedrichshafen
- Hyundai Mobis
- Toyoda Gosei Corporation
- Delphi Automotive
- Neaton Auto Products Manufacturing Incorporation
- Takata Corporation
- Nihon Plast
- TRW Automotive
- Jiangsu Favour & Taihang Changqing
- Jinheng Automotive Safety Technology
- Yanfeng Automotive Trim Systems
- BYD
- East JoyLong Motor Airbag
- S&T Motiv
- Changzhou Changrui
- Ashimori Industry
- Joyson Safety Systems
Automotive Side Airbags Market Dynamics
Growing Awareness about Advanced Automotive Safety Features Triggers Automotive Side Airbags Market Growth
Consumers are becoming more conscious about driver’s safety as well as safety of the vehicle with an alarming rise in road accidents. Players in the automotive side airbags market identify that the importance of passive safety systems in a vehicle has increased among consumers. Willingness to pay more of premium and advanced safety features, such as automotive side airbags, is triggering innovations in vehicle safety systems, boosting growth of the automotive side airbags market. Leading players in the automotive side airbags market are adopting advanced technologies to further improve key attributes of automotive side airbags and scale higher in the highly competitive automotive side airbags market in the upcoming years.
Burgeoning Sales of Passenger Cars with Advanced Safety Features Boosts Market Growth – Increased Household Income Plays an Important Role
As the negative effects of the Great Recessions continue to mitigate, the global economy has been recovering to a substantial rise in the disposable income of consumers across many countries. According to the ‘OECD Growth and economic well-being Quarterly Sector Accounts’, household income per capita in OECD countries increased by 0.7% in 2018 over 2017. The automotive side airbags market is benefitting from the significant rise in consumers disposable income, as it has improved the affordability of passenger cars with advanced safety features such as automotive side airbags. Thereby, increased awareness about the importance of automotive safety features coupled with increasing discretionary spending is expected to complement growth of the automotive side airbags market.
Higher Deployment of Automotive Side Airbags in Passenger Cars – A Leading Trend in the Automotive Side Airbags Market
As the growth prospects of the parent automotive industry continue to influence growth of the automotive side airbags market, increased automotive production will continue to boost growth of the automotive side airbags market. The global automotive production picked up from over 73.2 million vehicles to more than 97.3 million vehicles during the period 2007-2017, according to the recent statistics published by the International Organization of Motor Vehicle Manufacturers (OICA).
While the positive growth of the automotive industry continues to complement developments in the automotive side airbags market, leading market players are focusing on manufacturing automotive side airbags for passenger car, as passenger cars held a whopping 75% share in the global automotive production as well as sales. Taking into account the recent developments in the passenger car market segment, leading players in the automotive side airbags market are adopting advanced technologies to diversify their product range for high volume mid-segment passenger cars.
Automotive Side Airbags Market Segmentation
Based on the product type, the automotive side airbags market is segmented into
- Side Torso Airbags
- Side Tubular Airbags or Curtain Airbags
Based on its applications, the automotive side airbags market is segmented into
- Commercial Vehicles
- Passenger Cars
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
- Current and Future Threats
- Accurate Trend Analysis
- Regional Assessment
- Industrial Analogy
- COVID-19 Impact
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Regional Assessment
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
Industrial Analogy
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
COVID-19 Impact
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
- What are the diverse growth parameters influencing the market?
- Which regions will contribute largely to the growth of the market
- What are the recent innovations and technological advancements in the market?
- What are the emerging trends across the market?
- How has COVID-19 affected the market?
- What will be the post-pandemic scenario of the market?
- What are the major threats that will dent the growth prospects of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report