(MENAFN- America News Hour)In a recent published report, Kenneth Research has updated the market report for Airbag Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Airbag Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
''Final Report will add the analysis of the impact of COVID-19 on this industry.''
Global Airbag Market is estimated to reach $41.5 Billion by 2024 with CAGR of 9.3% between 2016 and 2024. Airbags are safety products, designed to automatically open and protect the body from serious injuries during accidents. It consists of folded textile bag that inflates rapidly inside the vehicle, immediately after collision. Airbags are controlled by the passive safety electronics unit and provides the best protection for the occupants. Manufacturers are focusing on developing advanced airbag fabric design, module design, combustible materials, and others. Increasing population and growing traffic rush has augmented the adoption of air bag in the market.
Increasing government regulation standards and rising demand for the safety of passengers in vehicles are the drivers propelling the growth of the global airbag market. Growing population, and rapid rise in the number of vehicles running on road also boost the growth of the market. Though, increasing popularity of driverless cars, and development of anti-crash sensors could pose challenge for the market growth. Additionally, rising demand for smart airbag technology could create several opportunities for the market in years to come.
''Final Report will add the analysis of the impact of COVID-19 on this industry.''
The global airbag market has been categorized as type, and geography. Type segment is further bifurcated into curtain airbag, side airbag, knee airbag, and front airbag. By geography, the global airbag market is segmented into North America, Europe, Asia-Pacific, and Rest of the world (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the World covers South America, Middle East, and Africa.
Key players in the global airbag market are Delphi Automotive PLC, TRW automotive, Denso Corporation, Takata Corporation, Key Safety Systems Inc., Toyoda Gosei Co., Ltd., Continental AG, Robert Bosch GmbH, Hyundai Mobis Co. Ltd., and Autoliv Inc., among others.
The key takeaways from the report:
The report will provide a detailed analysis of Global Airbag Market with respect to major segments such as type and geography
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Airbag Market from 2015 to 2024 has been included in the report
Profile of the key players in the Global Airbag Market will be provided, which include key financials, product & services, new developments and business strategies
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Scope of the Global Airbag Market:
Type Segment
Curtain Airbag
Side Airbag
Knee Airbag
Front Airbag
By geography segment
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Others
Asia Pacific
China
India
Japan
South Korea
Others
RoW
South America
Middle East
Africa
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