China is the global leader in automotive production and sales. China passenger car airbag market is forecast to grow at a CAGR of around 8% during the forecast period. As per the International Organization of Motor Vehicle Manufacturers, China has manufactured about 23.5 million passenger vehicles in 2018, highest all across the globe. It is expected to have a huge passenger car airbag market in the country as China occupies about 30% of the total vehicle market and 35% of the passenger vehicle market globally. The top automotive brand of China includes FAW Group, BYD Company, Chery, Zhejiang Geely Holding Group Co (Geely), Great Wall Motors and so further. Moreover, car production is expected to increase significantly during the forecast period as the country is significantly working in electrical vehicle technology. It will augment the passenger car exports from the country.
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The government of China has launched Made in China 2025 initiatives for the manufacturing industry. The aim of the initiative is to upgrade the industry from low-cost mass production to higher value-added advanced manufacturing. The initiative priorities 10 sectors which also includes automotive. The initiative includes sell off a million units of the domestically produced pure electric vehicles. Numerous targets are also set related to driver assistance, active and passive safety, automatic driverless systems and so on. The Chinese passenger car airbag market is segmented on the basis of type and vehicle type. By type, the market is further segmented into front airbag, side airbag, curtain airbag, and knee airbag. During the forecast period, the front airbag segment is expected to have a major market share. By vehicle type, the market is segmented into hatchback, sedan, and SUV. Hatchback segment is expected to have a major market share during the forecast period.
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The companies which are contributing significantly in the market include Key Safety Systems, Inc., Robert Bosch GmbH, TRW Automotive Holdings Corp., Hyundai Mobis Co., Ltd., Continental AG, NXP Semiconductors N.V., Autoliv Inc., Toyoda Gosei Co., Ltd., DENSO Corp., and others. The market players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market.
Market Segmentation
China Passenger Car Airbag Market by Type
- Front Airbag
- Side Airbag
- Curtain Airbag
- Knee Airbag
China Passenger Car Airbag Market by Vehicle Type
- Hatchback
- Sedan
- SUV
Company Profiles
- Autoliv Inc.
- Continental AG
- DENSO Corp.
- Hyundai Mobis Co., Ltd.
- Key Safety Systems, Inc.
- NXP Semiconductors N.V.
- Robert Bosch GmbH
- Toyoda Gosei Co., Ltd.
- TRW Automotive Holdings Corp.
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