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Technavio publishes a new market research report on the global automotive airbag market from 2016-2020. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global market for 2016-2020. The market size has been derived as a sum of frontal airbag and curtain airbag markets. The frontal airbag market's penetration in the overall passenger car, LCV, and HCV segments is considered in the report, whereas the curtain airbag market's penetration in the passenger car segment alone is considered.
Stringent vehicle safety regulations and growing awareness about in-vehicle safety systems are driving the deployment of airbags in vehicles. In terms of vehicle type, passenger cars will continue to be the highest volume market due to rapid adoption of airbag systems, whereas light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs) are expected to gain traction during the forecast period owing to rising adoption of safety measures like airbags by commercial businesses such as fleet operators/freight businesses.
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Prioritizing of safety systems by OEMs, buyers, and regulatory bodies
Globally, governments disclose the crash test ratings of automobiles for the benefit of automobile manufacturers, customers, and vendors. These ratings are published on various government and non-government portals such as NHTSA, Euro NCAP, and ASEAN NCAP. With the growing acceptance of safety certifications, automotive manufacturers are manufacturing vehicles that comply with safety standards. The NCAP ratings for each tested automobile are based on the assessment done for pedestrian protection, occupant protection, and child protection systems.
Neelam Barua, a lead analyst at Technavio, says, “Governments and crash test rating agencies worldwide are imposing stern safety norms for automobiles because of rising concerns over passenger safety. Such stringent crash test regulations have increased the pressure on automotive safety system manufacturers such as airbag manufacturers to deliver the best products.”
Ensuring in-vehicle safety against fatalities due to vehicle rollover and side impacts
Airbags are central to passenger safety in a moving vehicle because these devices are designed to reduce fatalities during collisions. Airbags are attached on steering panels, front instrument panels, and sides of car doors. These are common features and come as factory fit in almost all vehicles manufactured at present.
“Manufacturers have introduced curtain airbags that are mounted on the top of doors and roofs. These airbags protect passengers during side collisions and rollovers. Developing automotive markets such as China, India, the US, Japan, and Europe have high demand for curtain airbags,” adds Neelam .
Market dynamics for added safety features
The globalization of the automotive industry has resulted in fierce competition among international and domestic auto OEMs. The rising sales of vehicles may sustain the market, and auto OEMs are working to offer new technologies and advanced features. Such innovations may occur in terms of safety, performance, and design as a strategy to differentiate products and to raise their market shares.
Enhancing safety is one such segment because auto OEMs are currently focusing on . Such features were limited to high-end luxury and premium cars until 2007, but have become a standard feature in almost all vehicles manufactured today. The same holds true for airbags.
Top vendors:Autoliv Takata ZF TRW
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2016.
PUB: 11/29/2016 01:43 PM/DISC: 11/29/2016 01:42 PM