The global airbag market size was estimated to USD 9,896 million in 2018 and anticipated to witness an impressive growth rate with a CAGR of 7.3% during the forecast period. The pivotal factors contributing in the growth of Air Bag Market includes rising road accident, increased awareness of safety, introduction of new technology, increase in purchasing power of customer and government regulations. Approximately, 72 million cars were sold globally in 2016 & in US and Europe all cars have airbag as safety equipment. & in China & Japan more than 70% vehicle have airbag as safety equipment.
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The COVID-19 pandemic highly impacted the automotive industry, as a disorder in global supply chains and trade barriers all over the world consequently slowed down global vehicle production and reduced demand for vehicles across the globe. Halt in production and global shutdown led to a drop in sales of passenger vehicles. Moreover, due to stoppage of transportation and shipping services reduced demand for commercial vehicles as well.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Airbag Market Report Segment
By Type
- Front Airbag
- Side Airbag
- Curtain Airbag
- Knee Airbag
By Vehicle Segment
- Passenger Cars
- Hatchback
- Sedan
- SUV
- Commercial Vehicle
Global Airbag Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report covers
- Comprehensive research methodology of global airbag market.
- This report also includes detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global airbag market.
- Insights about market determinants which are stimulating the global airbag market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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