Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. The country is a leading exporter of vehicles and their spare parts. The German economy has a significant share of the automotive sector with around 15-20% of the total economy. The country is known for its quality products and brands. The major brands which are German based include Audi, BMW, Iveco, MAN, Mercedes, Opel, Porsche, and Volkswagen. Along with OEM, the country has well renowned auto-ancillary companies that supply their products all across the globe. Some major is Bosch GmbH, Continental AG, ZF TRW, BASF SE, Mahle GmbH, Thyssen Krupp and so on. As per the International Organization of Motor Vehicle Manufacturer around 5.1 million passenger cars were manufactured in Germany in 2018, 3rd highest after China and Japan.
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The Germany airbag market is segmented based on type and vehicle type. By type, the market is further analyzed into front airbag, side airbag, curtain airbag, and knee airbag. The front airbag segment is expected to have a major market share during the forecast period whereas knee and curtain airbags will find a significant growth rate during the forecast period. By vehicle type, the market is segmented into passenger cars and commercial vehicles. The country is a major manufacturer of passenger cars hence a significant market share of the passenger car will be witnessed during the forecast period.
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The companies which are contributing significantly in the market include Autoliv Inc., Continental AG, DENSO Corp., Hyundai Mobis Co., Ltd., Key Safety Systems, Inc., Robert Bosch GmbH, Toyoda Gosei Co., Ltd., TRW Automotive Holdings Corp., and others. The market players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market. For instance, in February 2019, the German auto ancillary company ZF Friedrichshafen has developed an external airbag for vehicles. It can reduce the impact during the crash and minimize damage to the car passengers.
Market Segmentation
Germany Airbag Market by Type
- Front Airbag
- Side Airbag
- Curtain Airbag
- Knee Airbag
Germany Airbag Market by Vehicle Type
- Passenger Cars
- Hatchback
- Sedan
- SUV
- Commercial Vehicle
Company Profiles
- Autoliv Inc.
- Continental AG
- Daicel Corp.
- DENSO Corp.
- Hyundai Mobis Co., Ltd.
- Key Safety Systems, Inc.
- NXP Semiconductors N.V.
- Robert Bosch GmbH
- Toyoda Gosei Co., Ltd.
- TRW Automotive Holdings Corp.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
