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The global airbag market size is expected to reach USD 57.45 Billion at a revenue CAGR of 7.6% in 2030, according to latest analysis by Emergen Research. Market revenue growth is attributed to rising cases of road accidents that have resulted in critical injuries and deaths which is increasing awareness among customers towards the use of airbags in automotive sectors. According to statistical figures from the National Safety Council of the U.S., 42,060 people died in car accidents in 2020. This increasing general public awareness is expected to drive revenue growth of the market during the forecast period. Also, with a rise in per capita income of customers, they are getting inclined towards spending more on pre-installed safety systems which in turn are allowing major firms with new investment prospects. Moreover, comfort and driving experience of customers is improved by the introduction of active and passive safety systems in vehicles as consumers make their purchasing decisions on aspects such as trustworthiness, safety, and comfort. As a result, customer awareness of car safety rises, thereby driving market revenue growth over the forecast period.
The market intelligence report offers a panoramic view of the global Airbag industry, with a special focus on the regional bifurcation and competitive landscape. Crucial information pertinent to the latest industrial growth trends, technological advancements, product offerings, production capacity, demand and supply ratio, and estimated growth rate have been included in this report. The research methodologies offered in the report are intended to help readers gain a competitive edge in the market. Additionally, the report undertakes the SWOT Analysis and Porter’s Five Forces Analysis to assess the market standing of the leading companies operating in this sector.
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Key Players operating in the industry are:
Wacker Chemie AG, Mitsubishi Electric Corporation, Shin-Etsu Chemical Co. Ltd., Visteon Corporation, Denso Corporation, Toyobo Co. Ltd., Continental AG, Nihon Plast Co. Ltd., Toyoda Gosei Co. Ltd., ZF Friedrichshafen AG, Autoliv Inc., and Toray Industries Inc
Radical Features of the Airbag Market Report:
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Segmentation:
Regional Analysis Covers:
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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