Global Automotive Side Airbags Market 2019-2023 | Increasing Popularity of Side Airbags in Mid-Range and Entry Level Vehicles to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 2, 2019--
The global automotive side airbags market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global automotive side airbags market 2019-2023. (Graphic: Business Wire)
Many airbag manufacturers are introducing curtain airbags that can be mounted on top of doors and roof rails. These airbags are designed to protect passengers during side collisions and rollovers. Popular automobile manufacturers such as Ford, Honda, Hyundai, Kia, and others are offering curtain airbags as a standard fitment or as an option in their many vehicles. Several commercial vehicle manufacturers are also introducing curtain airbags in trucks, trailers, tractors, and other heavy vehicles. Hence, the rising adoption of curtain airbags in passenger and commercial vehicles is expected to drive the growth of the global automotive side airbags market during the forecast period.
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As per Technavio, the increasing popularity of side airbags in mid-range and entry-level vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Side Airbags Market: Increasing Popularity of Side Airbags in Mid-Range and Entry Level Vehicles
Side airbags are mostly limited to luxury cars in many developing countries such as China, India, and Brazil. However, growing awareness about safety among consumers from various socioeconomic groups is prompting automobile manufacturers to introduce safety features such as curtain airbags in mid-range and entry-level vehicles. Many OEMs are providing multiple side airbags at competitive prices to attract price-sensitive customers and improve sales. Thus, the increasing popularity of side airbags in mid-range and entry-level vehicles is expected to boost the growth of the market during the forecast period.
“Anticipated future regulations mandating the installation of curtain bags across all vehicle segments and geographies along with market consolidation are other factors that are expected to further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Automotive Side Airbags Market: Segmentation Analysis
This market report segments the global automotive side airbags market by application (passenger cars and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the growing consumer demand for advanced safety features in mid-segment vehicles in the region.
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SOURCE: Technavio Research
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PUB: 12/02/2019 03:00 PM/DISC: 12/02/2019 03:01 PM