3rd October 2018 – The global production of airbag is about 388 million units in 2016, with revenue of 12 billion USD. The prospect of airbag industry is good in next years. The global production of airbag is expected to be 512 million units in 2022, with a CAGR of 5.6%. The airbag is considered one of the automotive units for safety. The main purpose of the automobile airbag is to cushion pilot during a vehicle accident and protect the body when the body hits the interior objects such as vehicle steering, wheel or window. It includes the shell fabric or a cushion designed to inflate at the time of the collision. Automotive airbags are deployed with a sensor that activates the airbags depending on the type and severity of the collision. A modern vehicle is designed with several airbags located on the different side and frontal location of the person driving the vehicle. The modern vehicle is composed of the airbag control unit that monitors the various parts in the vehicle, such as pressure breaks, side door, and the speed of the wheel.
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Automotive is the major end user of airbag followed by military aircraft and aerospace. Based on a location of airbags in the market for global vehicle airbag can be bifurcated seat cushion airbag center, rear curtain airbags, knee airbag, side airbags and front airbags. Front airbags registered for the largest share of the market followed by side airbags. An increasing number of deaths in road accidents are accelerating demand for security measures, increasing the global market for automotive airbags. In addition, the safety rules involved by the government and rising life expectancy are also the engine of airbag global market. Increasing disposable income levels have influenced individuals to spend more on the safety features in the vehicle, which further increases the demand for automotive airbags market. In addition, increasing customer awareness of technological changes related to safety equipment in the vehicle may act as a market player in the coming future. The airbag technology on two wheels can provide the growth opportunity for the market leaders.
North America has the largest market share for a technology of the automobile airbag, followed by Asia-Pacific and Europe. Europe is expected to register average growth in the coming future. The US is the largest user of the technology of the airbag because of technological advancement. The Asia Pacific region includes Thailand, India and China. Asia Pacific is anticipated to witness higher growth in the future expected due to the increase in domestic demand for vehicle safety equipment added to the vehicle. Some of the major companies operating in the global market of the automotive airbag are Autoliv Inc., Takata Corp., Denso Corp., Toyoda, Tokai Rika Co. Ltd., Key Safety Systems Inc., TRW Automotive Holdings Corp. and Delphi Automotive plc. The willingness to spend more on safety equipment in the vehicle encourages multinational enterprises to invest more in this market. security system suppliers such as Autoliv Inc. (Sweden), Robert Bosch GmbH (Germany), Takata Corporation (Japan), and TRW Automotive (U.S.), and have a significant presence in the Americas. The Americas region includes Canada, Brazil, Mexico and the United States, Mexico, Brazil, Canada, and others.
The New Car Assessment Program of the United States (US NCAP) is a leading information program for the US Department of Consumer National Highway Traffic Safety Administration of Transportation (NHTSA). In the coming years, US NCAP adjusts its rating system to reflect improvements in safety devices in American vehicles. This will make it tougher for a vehicle to reach the highest ratings, thereby encouraging manufacturers to produce vehicles exceeding federal safety minimum requirements. This should have a positive effect on the airbag market.
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