The increasing attention paid to consumer safety in automotive design plays a significant part in boosting the demand from the global automotive airbag market. The high number of safety laws being issued in the prime markets of Western Europe, Japan, and the U.S. is predicted to stimulate the automotive airbag market. Transparency Market Research, a market intelligence company based in the U.S., has elaborated the major market players in the global automotive airbag market in a recent report, providing a bird’s eye view on their recent developments in the airbag market and the key market predictions.
According to TMR’s findings, the global automotive airbag market was estimated at US$17.24 billion in 2013, and is anticipated to reach US$29.72 billion in 2020, expanding at a CAGR of 8.1% between 2014 and 2020.
Of the various locations of airbags in a vehicle, passenger airbags inflate during crashes that take place at the frontal part of the vehicle. Side curtain airbags provide a cushion between the window and the occupant, protecting the head of the occupant. Knee airbags, driver airbags, and side airbags provide protection to the knee, head and body, and chest injuries, respectively, and inflators help fill gas in the airbag cushion.
Browse Market Research Report of Automotive Airbag Market:
Due to a large number of technological advancements, prominent automobile manufacturers are investing heavily in producing sophisticated airbags. There are a lot of airbag manufacturers in the market, however only a handful of them have stood out in this industry:
Delphi Automotive PLC: Delphi automotive PLC is a global supplier of both electronics and technology for commercial vehicles as well as cars. It has offices in more than 30 countries and is amongst the most prominent suppliers of air bags. Delphi is also a world leader in connecting wiring systems with airbags and various other pyrotechnic devices utilized in vehicles.
According to the president of Delphi Connection Systems, Liam Butterworth, airbags have become a necessity in all passenger vehicles and they may comprise as many as ten applications in a single vehicle, along with the requirement for a unique architecture in each vehicle for ensuring the safety of the occupants. Delphi is a major innovator in making the required safety equipment owing to its competency in engineering and has the means in the global perspective for meeting the needs of the local markets.
Autoliv: Autoliv is the biggest airbag supplier in Europe and presently holds 25% of the automotive airbags market in the U.S. Autoliv specializes in both active safety and passive safety and has a presence in the markets for all types of automotive airbags and accessories, namely passenger airbags, curtain airbags, driver airbags, knee airbags, side airbags, and inflators.
TRW Automotive Holdings Corporation: TRW is also a worldwide distributor and manufacturer of automobile airbags. It provides a broad range of technologically advanced airbag systems that can be integrated along with a number of other systems used for safety. Some of the key innovations from TRW include the development of external airbags, which protect the passenger from a side impact crash. Additionally, new concepts developed by TRW for passenger safety include the concept of front seat mounted rear airbag and the concept of roof-mounted rear airbag.
Browse Press Release of Automotive Airbag Market:
With these innovations and advancements in the airbag technology, the market for automotive air bags is poised to progress by leaps and bounds in the forthcoming future.