The Airbag Market research reports 2023-2030. A detailed study accumulated to offer the Latest insights about acute features of the Global Airbag market. This report provides a detailed overview of key factors in the Airbag Market and factors such as driver, restraint, past, and current trends, regulatory scenarios, and technology development. This report elaborates the market size, revenue, and growth of the Airbag industry, and breaks it down according to the type, application, and consumption area of Airbag. The report also conducted a PESTEL analysis of the industry to study the industry’s main influencing factors and entry barriers.
The Global Airbag Market Was Valued At USD 27.6 Billion In 2022 And Is Projected To Reach USD 47.0 Billion By 2030, Growing At A CAGR Of 5.7% From 2022 To 2030
Some of the key players profiled in the study are:
Autoliv, Takata, ZF TRW, Toyoda Gosei, KSS, Hyundai Mobis, Nihon Plast, Ashimori, East Joy Long.
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Airbag Market Overview
Airbags are part of a car’s safety control system. When an accident happens, they quickly fill with air. They are soft, pillow-like balloons with sensors and an inflation device that is a bag that folds into the steering wheel, dashboard, seat, door, or roof. The main job of an airbag is to protect the driver or passenger in the event of a crash and to keep the body from hitting things inside the car, like the steering wheel or windows. In the event of a crash, sensors in the car tell the airbag electronic controller unit (ECU) what kind of crash it was, at what angle it happened, and how hard it hit. The airbag ECU’s crash algorithm figures out what a crash looks like and sets off multiple firing circuits to release one or more airbag modules inside the car. Modern cars are made with multiple airbags on the sides and in the front that protect the person driving the car.
Market Segmentation
Airbag Market by Types:
- Driver Front Airbag
- Passenger Front Airbag
- Side Airbag
- Knee Airbag
- Other Airbag
Airbag Market by Applications:
- Passenger Vehicle
- Commercial Vehicle
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Regional Insights
In 2021, the Asia-Pacific market was worth USD 1.44 billion. By 2029, it is projected to be worth USD 5.25 billion, which is a CAGR of 8.0% during the period of the forecast. As an automotive hub, the region is expected to have the largest share of the global automotive airbag market. This is because countries in the region are making and exporting more cars every year. This rise can be explained by the fact that people are spending more on passenger safety, which is expected to drive the demand for cars and safety parts for cars. Over the next few years, the market in this area is likely to grow because more people are using electric cars and using key government programs.
In 2021, the North American market was worth USD 2.45 billion. By 2029, it is projected to be worth USD.67 billion, which is a CAGR of 6.8% over the period of the forecast. During the forecast period, the market in North America is projected to grow by a lot.
Country-Level Break-Up:
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- South America (Mexico, Brazil, Argentina, Columbia, Rest of South America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
Influence of the Airbag market report:
-Comprehensive assessment of all opportunities and risks in the Airbag market.
-Airbag market recent innovations and major events.
-Detailed study of business strategies for growth of the Airbag market-leading players.
-Conclusive study about the growth plot of the Airbag market for forthcoming years.
-In-depth understanding of Airbag market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Airbag market.
Reasons for Buying this Report:
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward-looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow.
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