Increasing demand for customer safety, stringency of safety regulations, and increase in sales of luxury vehicles are significant factors driving global airbag market revenue growth
Posted 9 months ago in News and Politics.
The latest research report, titled ‘Global Airbag Market’, can be considered a profound analysis of the global Airbag industry that focuses on crucial data and information pertaining to the sales and revenue shares. The market evaluations over the forecast years are based on a comprehensive analysis of the leading market segments, such as product type outlook, application continuum, regional overview, and competitive landscape of the global Airbag market. The report offers a holistic coverage of the Airbag market, laying emphasis on the key factors influencing the industrial growth, technological developments taking place in the industry, and current and emerging trends witnessed in the leading regional markets.
The global airbag market size is expected to reach USD 57.45 Billion at a revenue CAGR of 7.6% in 2030, according to latest analysis by Emergen Research. Market revenue growth is attributed to rising cases of road accidents that have resulted in critical injuries and deaths which is increasing awareness among customers towards the use of airbags in automotive sectors. According to statistical figures from the National Safety Council of the U.S., 42,060 people died in car accidents in 2020. This increasing general public awareness is expected to drive revenue growth of the market during the forecast period. Also, with a rise in per capita income of customers, they are getting inclined towards spending more on pre-installed safety systems which in turn are allowing major firms with new investment prospects. Moreover, comfort and driving experience of customers is improved by the introduction of active and passive safety systems in vehicles as consumers make their purchasing decisions on aspects such as trustworthiness, safety, and comfort. As a result, customer awareness of car safety rises, thereby driving market revenue growth over the forecast period.
The current COVID-19 pandemic is expected to have an effect on the growth of the Airbag industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the Airbag sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Airbag industry.
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The report offers insightful information about the market dynamics of the Airbag market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Airbag market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Airbag market.
Radical Highlights of the Airbag Market Report:
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Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
Wacker Chemie AG, Mitsubishi Electric Corporation, Shin-Etsu Chemical Co. Ltd., Visteon Corporation, Denso Corporation, Toyobo Co. Ltd., Continental AG, Nihon Plast Co. Ltd., Toyoda Gosei Co. Ltd., ZF Friedrichshafen AG, Autoliv Inc., and Toray Industries Inc
Global Airbag Market Report - Segmental Analysis:
The global Airbag business vertical has been extensively categorized on the basis of product type, application gamut, end-user industries, and a competitive overview. The report inspects the current market scenario, its past performance, demand and supply ratios, production and consumption rates, sales, and numerous growth opportunities available in the market. It further estimates the prospective growth of the leading regional segments of the market, which is beneficial for readers to gain impactful insights into the Airbag business sector. A clear outline of the competitive landscape of the market is expected to help businesses involved in this sector decipher the optimal business moves to reach their desired business goals.
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Key Questions Answered by the Report:
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Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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