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Safety concerns, regulations, and increasing consumer awareness are the major drivers of demand for automotive airbags. The global automotive airbags market has tremendous potential and is projected to exceed 211.3 million units by the year 2012, registering a CAGR of 5.5%.
San Jose, CA (PRWEB) October 28, 2008 -- Buoyed by tightening regulations and growing customer awareness, automotive airbags market is bracing for strong growth in the coming years. Automobile manufacturers are on constant look out for new technologies and systems that can effectively enhance their competitiveness in this era of globalization. Some of the major factors driving growth of airbag installations include regulations, awareness, introduction of sophisticated systems such as side impact airbags, increase in safety concerns, launch of safer products, and competitive dynamics. Cars in the future are expected to be equipped with ’Smart Airbag Systems’, which create an integrated "occupant protection" or "motion control" system. Smart systems sense an impending crash, its nature, the presence of occupants, their position, and determine the type of airbags to be fired and the force and speed of their deployment.
Europe is the largest automotive airbags market in the world and is projected to reach 63.6 million units by the year 2010, as stated by Global Industry Analysts, Inc. Asia-Pacific is the world’s fastest growing automotive airbags market and is projected to expand at a CAGR of nearly 21.7% over 2000-2010.
Front-impact driver airbags is the largest product segment and is forecast to reach 70.8 million units by 2010. The US, Canada, Japan and Western Europe have reached 100% penetration rates for front impact driver airbags. As such, most of the growth in this segment can only be expected from incremental vehicle sales. Side-impact airbags market is the fastest growing segment in the global automotive airbags market and is projected to register a CAGR of 13.7% between 2000-2010.
The near saturation levels in large automobile markets in developed countries is shifting the focus of automobile makers and large automotive parts suppliers to emerging automobile markets of developing countries. This is consequently leading to an increasing number of foreign collaborations, technical tie-ups, and foreign investment in developing economies.
The report, titled "Automotive Airbags: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends and issues, product classification, product introductions/innovations, and recent industry activity. The study analyzes market data and analytics in volume sales for the period 2000-2015 by the following segments - Front-Impact Driver Airbags, Front-Impact Passenger Airbags, Side-Impact Airbags, and Other Automotive Airbags. Regions covered in the report include US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America, and Rest of World.
Major market participants profiled include Autoliv, Delphi Corp., Denso, International Textile Group, Key Safety Systems, Takata, Toyoda-Gosei, and TRW Automotive.
For more details about this research report, please visit http://www.strategyr.com/Automotive_Air_Bags_Market_Report.asp.
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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