Northbrook, IL -- (SBWIRE) -- 02/21/2020 -- The Automotive Airbags & Seatbelts Market is estimated to be USD 55.77 billion in 2017 and is projected to reach 135.43 billion by 2025, at a CAGR of 11.97% during the forecast period. Increasing demand for safe, more efficient driving experiences, and growing stringency of safety regulations across the globe are playing a key role for driving airbags & seatbelts market. The base year considered for the study is 2017, and the forecast has been provided for the period between 2018 and 2025. The report analyses and forecasts the market size, in terms of volume (000'/million units) and value (USD million/ billion), of the automotive airbags & seatbelts market.

The automotive industry is witnessing a rapid evolution in safety features. The main objective behind the implementation of these features in vehicles is to provide a safer and more efficient and convenient driving experience.

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The increase in road accidents is a major concern for automobile manufacturers and governments. According to NHTSA, the total number of fatalities due to road accidents in the US in 2016 was 37,461, which grew by 5.6% from 2015. These statistics plainly illustrate the often-underestimated dangers inherent in driving a car. While these numbers are staggeringly high, they are fortunately in decline. Much of this decline in the frequency of vehicular crashes can be attributed to the widespread adoption of automotive safety systems, such as seatbelts and airbags.

Market Dynamics

Drivers

Government regulations pertaining to vehicle safety

Safety features have become a prerequisite for automotive consumers across the globe. In an attempt to curb the number of road accidents, government bodies across the globe are increasingly implementing stringent safety regulations. Owing to these regulations, carmakers are now required to incorporate basic safety features, such as anti-lock braking systems (ABS), airbag systems, and tire pressure monitoring systems (TPMS), in their entry-level models. Hence, safety regulations coupled with the increasing demand for safety features in vehicles are expected to drive the growth of the automobile airbags and seatbelts market in the coming years.

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Growing demand for safer and more efficient driving experiences
The automotive industry is witnessing a rapid evolution in safety features. The main objective behind the implementation of these features in vehicles is to provide a safer and more efficient and convenient driving experience.

Key Players

The Key Players in the Automotive Airbags & Seatbelts Market are ZF Friedrichshafen (Germany), Autoliv (Sweden), Denso Corporation (Japan), Aptive (UK), Joyson Electronic (China), Continental AG (Germany), Robert Bosch GmBH (Germany), Toshiba Corporation (Japan), Hyundai Mobis (South Korea), and Takata Corporation (Japan). These Players are Increasingly Undertaking Mergers and Acquisitions, and Product Launches to Develop and Introduce New Technologies and Products in the Market.

Key Questions Answered

- What are the industry trends of the airbags and seatbelts market?
- What would be the impact of government mandates to regularize emission norms?
- Who are the key players in the industry and what strategic initiatives are they taking to maintain their market position?
- How are the players addressing the challenge of maintaining a sustainable and profitable model for airbags & seatbelts market?
- Which region will be the largest market for airbags & seatbelts?

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