North America is expected to be a major contributor to the airbag market and is expected to grow at a CAGR of nearly 4.5% during the forecasted period. in the US, around 11.3 million vehicles are manufactured in 2018 out of which around 8.5 million were the commercial vehicle and 2.8 million vehicles were passenger cars. Cohesive government regulation, the high average cost of the vehicle and the high production volume of the vehicles in the region are the major factor for the growth of the market. Key Safety Systems, Inc., is one of the major airbag companies having headquarter in the US. It acquired a major airbag company named Takata corporation in 2017 to increase its market share all across the globe. Apart from Key Safety System, most of the other major market players have their manufacturing unit in North America, especially in the US. The US is the largest contributor to the airbag industry in North America. The downfall in the overall vehicle sales in the region is one of the major restraining factors of the market.
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The market is segmented by type and vehicle segments. By vehicle segment, the market is divided into a passenger vehicle and commercial vehicle. The passenger vehicle segment is further segmented into Hatchback, Sedan, and SUV. By type, the market is segmented into the front airbag, side airbag, curtain airbag, and knee airbag. The front airbag segment is estimated to be the largest market in the region. Knee airbag is improving continuously as it is deployed to save knee at the time of the collision and is expected to have a significant growth rate in the region.
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The companies which are contributing significantly in the market include Autoliv Inc., Daicel Corp., DENSO Corp., Global Safety Textiles, LLC, Key Safety Systems, Inc., TRW Automotive Holdings Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
Market Segmentation
By Type
- Front Airbag
- Side Airbag
- Curtain Airbag
- Knee Airbag
By Vehicle Type
- Passenger Cars
- Hatchback
- Sedan
- SUV
- Commercial Vehicle
Regional Analysis
- United States
- Canada
Company Profiles
- Autoliv Inc.
- Continental AG
- Daicel Corp.
- DENSO Corp.
- Global Safety Textiles, LLC
- Hyundai Mobis Co., Ltd.
- Key Safety Systems, Inc.
- NXP Semiconductors N.V.
- Robert Bosch GmbH
- Toyoda Gosei Co., Ltd.
- TRW Automotive Holdings Corp.
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