Growing Government Initiatives Regarding Road Safety to Boost the Growth of Global Automotive Airbags & Seatbelt Market by 2027 - Exclusive Report by Research Dive

Global automotive airbags & seatbelts market is predicted to experience an impressive growth over the forecast period, owing to the rising cases of autoimmune diseases across the globe. By application, the passenger cars segment is predicted to hold a significant share in the global market by the end of 2027. Further, the North America region is anticipated to play a dominant role in the projected timeframe.

New York, USA, Dec. 21, 2020 (GLOBE NEWSWIRE) -- As per a Research Dive published report, the global automotive airbags & seatbelts market is projected to grow significantly during the forecast period from 2019 to 2027. As per our analysts, the rising consciousness amongst customer regarding the value of employing passive protection devices, such as seat belts & airbags and the government initiatives to implement new legislation related to road safety are the significant factors anticipated to bolster the growth of global automotive airbags & seatbelts market over the forecast period. On the contrary, high costs related to the installation of seatbelts & airbags is predicted to restrict the market growth in the coming future.

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Airbag Type Segment to be Most Profitable

Based on type, the side airbags sub-segment of airbag type segment is estimated to be most lucrative during the forecast period, as these airbags provide efficient safety in case of a side-impact collision,

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Passenger Cars Segment to Subjugate the Market by 2027

Based on application, the passenger cars segment is expected to hold a dominant position in the global industry over the forecast period, owing to the increase in number of passenger cars especially in the Asia-Pacific region and improved standard of living of people across the globe.

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Commercial Vehicles Segment to Witness Highest Growth

Based on end-users, the commercial vehicles segment is projected to be the highest growing segment by the end of 2027, mainly because various governments across the globe are employing strict regulations for safety of passengers.

North America Region to Dominate the Industry

By region, the North America market for automotive airbags & seatbelts is predicted to dominate the global industry by the end of 2027, owing to strict regulations regarding road safety in the U.S. and Canada. On the other hand, the Asia-Pacific region is anticipated to grow at the fastest rate during the forecast period, owing to the rising demand for vehicle production in the region.

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Prominent Market Players

• Autoliv Inc.
• Ningbo Joyson Electronic Corp.
• ZF Friedrichshafen AG
• Toyoda Gosei Co. Ltd.
• The Hyundai Motor Group
• Continental AG
• Denso Co.
• Hyundai Mobis
• Robert Bosch GmbH
• Ashimori Industry Co. Ltd.

Further, the report presents and outlines several aspects of these key players such as recent strategic moves, developments, business performance, product portfolio, and SWOT analysis.

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In July 2019, ZF Friedrichshafen developed an external airbag to enhance the safety of vehicles. The external airbag is engineered to minimize the damage by softening the blow of the oncoming vehicle.

The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.


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