Asia-Pacific to drive growth in the automotive airbags market

The automotive airbag market has been forecast to increase at a compound annual growth rate (CAGR) of 8.31% through 2016, driven by the increase in demand for automotive airbags from the BRIC countries.

A key occupant protection device, airbags are widely used and legislated automobile safety systems.

An airbag is a vehicle safety device. It is an occupant restraint system consisting of a flexible fabric envelope or cushion designed to inflate rapidly during an automobile collision.

Its purpose is to cushion occupants during a crash and provide protection to their bodies when they strike interior objects such as the steering wheel or a window.

Given the stringent automobile safety regulations in developed countries like the United States, Japan, and Western European countries, front impact airbags represent a maturing technology with 100% market penetration. Growth in these mature markets will be driven by new and changing airbag legislations.

For instance, in the United States, the focus of National Highway Transport Safety Administration (NHTSA) on meeting higher safety standards in side impact crashes can bring in opportunities for curtain airbags. Therefore up-gradation of federal standards for side impact protection can bring in newer avenues for growth.

Developing countries in Asia-Pacific, Latin America, will generate the boost required to turbo-charge growth in the automotive airbags market. Emerging economies such as China and India, which have been generating substantial demand for new cars in recent times, will continue to be key growth drivers for airbags market in Asia-Pacific over the next few years.

Thanks to rising employment levels, economic prosperity and increase in discretionary income, demand for new cars has been on the rise in these nations, which in turn has been boosting automotive production.

In the upcoming years, innovations in smart airbag systems will be focused on special intelligent features, such as, automatic radioing for assistance and information about the location, severity and number of occupants involved in the crash, pre-tensioning the seat belts, switching off the fuel pump and other appropriate system.

Key players currently dominating the automotive airbag market include Autoliv Inc., Delphi Automotive plc, Takata Corp., and TRW Automotive Holdings Corp.

For more information on the automotive airbags market, see the latest research: Automotive Airbags Market

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