LONDON--(BUSINESS WIRE)--The global automotive airbag sensor market is expected to grow at a CAGR of close to 6% from 2017-2021, according to a new market research report by Technavio.
Global automotive airbag sensor market segmentation by application and geography
Technavio’s report on the global automotive airbag sensor market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application, including passenger cars, light commercial vehicles, and medium and heavy commercial vehicles. In 2016, the global automotive airbag sensor market was dominated by the passenger cars segment that occupied a market share of more than 80%.
Based on geography, the global automotive airbag sensor market has been segmented into APAC, the Americas, and EMEA. APAC was the major contributor to the global market in 2016, accounting for a market share of close to 40%.
“APAC is predicted to witness growth because of the increasing demand for automobiles, growing safety concerns, and government initiations to mandate airbags in vehicles. To minimize accident rates and to increase road safety the Government of India has decided to mandate safety equipment in all cars that will be sold in India from October 2018. The safety equipment includes airbags, advanced braking system, and speed warning system. Few automakers such as Volkswagen, Toyota, and Maruti Suzuki have already made airbags and advance braking system standard in some of their vehicles,” says Amey Vikram, a lead analyst at Technavio for automotive electronics research.
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Automotive airbag sensor market: competitive vendor landscape
The global automotive airbag sensor market has the presence of key vendors such as Autoliv, Bosch, Continental, Delphi Automotive, and DENSO CORPORATION. The other prominent vendors in the market include Daicel Corporation, Hyundai Mobis, Key Safety Systems, Ningbo Joyson Electronic, and ZF Friedrichshafen. Autoliv is the world's largest automotive safety supplier catering to all the leading car manufacturers in the world. It manufactures market protective systems such as airbags, seatbelts, steering wheels, passive safety electronics, and active safety systems including brake control systems, radar, night vision, and camera vision systems.
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Other topics covered in the report:
Market drivers:
- Increasing vehicle safety with more airbags
- Growing automotive sales in developing countries
Market challenges:
- Low price counterfeit airbag systems
- Price challenges to meet new safety standards
Market trends:
- Airbag technology for two-wheelers
- Increase in number of airbags per vehicle
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