The US is one of the global leaders in the automotive and airbag sector. The US airbag market is forecast to grow nearly at a CAGR of 5% during the forecast period. Almost every big automotive manufacturer has an established manufacturing unit in the US such as Audi, Mercedes, Nissan, Ford, Volkswagen and so on. In 2018, about 11.3 million vehicles were manufactured in the US, out of which 75% are commercial vehicle and 25% are passenger cars. In terms of number, the global sales percentage of cars of the US is near to 8% however the price of vehicles and its accessories are quite high in this region as compared to all across the globe. Additionally, it has been observed that most of the cars in the US are equipped with front airbag, side airbag, curtain airbag and about half of the vehicles are equipped with knee airbags. These are the reason for the large airbag market in the region. The airbag market in the US is a matured market as airbag has been adopted decades ago. In September 1998, the government introduced the “Intermodal Surface Transportation Efficiency Act of 1991”. As per law, it is mandatory for all cars and light trucks to be equipped with an airbag which is being sold in the US. Vehicles recall due to faulty airbags is one of the major challenges for the airbag market in the country.
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The US 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. During the forecast period, the front airbag segment is expected to have a major market share, whereas knee airbag and curtain airbag are expected to have a significant market share. By vehicle type, the market is segmented into passenger cars and commercial vehicles. Passenger car is expected to have a major market share 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, 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
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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