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Global Airbag Electronics Market: Growing Electrification of Automotive Industry Creating Sizeable Opportunities

Press release Description

Albany, New York, April 24, 2018: A new research study titled “Airbag Electronics Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026” has been added to the research repository of Market Research Reports Search Engine (MRRSE). According to the research study, the global airbag electronics market is likely to witness a volume CAGR of 6.8% during the assessment period. In terms of volume, nearly 237,500 units of airbag electronics are likely to be sold around the globe.

The research study offers in-depth analysis and insights on the key factors that are propelling the growth of the global market. A detailed discussion on the key factors preventing the widespread adoption of airbags and airbag electronics is also included in the report. The business intelligence study also offers analysis on the rising opportunities for key players in the market. The prevailing trends and their likely impact on the supply chain has also been studied lucidly.

According to the research study, the global airbag electronics market is witnessing steady growth on account of growing electrification of vehicles. The automotive industry is in the midst of a transformation, with electric vehicles, connected vehicles, and driverless cars gaining investments and attention. The inclusion of advanced technologies such as IoT and Big Data is also fuelling investments in airbag electronics market.

In addition to the technological features, demand for airbag electronics is also growing on account of growing emphasis on road safety. Governments around the world, especially in developing countries, are working on improving the safety of passengers, and norms related to inclusion of airbags as a standard safety equipment are gaining momentum. Although airbags are yet to become a standard in many countries, it is highly likely that favorable government regulations will augur well for the prospects of the airbag electronics market during the assessment period.

The business intelligence study has segmented the market on the basis of various parameters in a bid to offer holistic analysis and insights. According to the study, inclusion of airbag electronics in compact and mid-sized cars is likely to grow at a steady pace during the assessment period. Mid-sized and compact cars are witnessing heavy demand in China, India, and ASEAN. As the middle class population in these countries is witnessing steady growth, demand for compact and mid-sized cars is likely to witness an increase during the assessment period. The report also projects that demand for airbag electronics in compact cars will grow at a high CAGR during the assessment period.

According to the study, North America and Asia Pacific are likely to be the lucrative markets for airbag electronics globally. The demand for airbag electronics in North America is likely to remain concentrated in the US, whereas China, India, and ASEAN are among the key markets in Asia Pacific. Some of the leading companies profiled in the research study include Key Safety Systems, Inc. (US), Autoliv (Sweden), Toyoda-Gosei Co., Ltd. (Japan), Ashimori, Denso Corporation (Japan), TRW Automotive Holdings Corp. (US), Ningbo Joyson Electronic, Takata Corporation (Japan), Hyundai Mobis, and Nihon Plast.

Browse Full Global Airbag Electronics Market Report with TOC :

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