Product ID: SQSG25A2013
Report ID:
SQSG25A2013 |
Region:
Global |
Published Date: February, 2024
Pages:
246
|
Tables:
63 |
Figures:
75
Europe is expected to control the automotive airbag market share. Due to strict government regulations regarding vehicle occupant and pedestrian safety. The results of the Euro NCAP are actively promoted by France, the UK, and Sweden. Sweden is promoting its internal travel policy, which calls for vehicles used for official business to have a 5-star safety rating. The North America market share is anticipated to increase significantly over the course of the forecast period. Airbags are a requirement for passenger cars and light-duty commercial vehicles under the Intermodal Surface Transportation Efficiency Act of 1991. This is leading to an increase in the market for automotive airbags in this area. Also anticipated for Asia Pacific is a healthy growth rate. The rising vehicle production and sales in developing countries like China and India are expected to fuel market expansion in this region. The growing consumer awareness of the significance of vehicle safety systems is likely to be advantageous for the Asia Pacific market.
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REQUEST FREE CUSTOMIZATIONAutomotive Airbag Market size was valued at USD 47.96 billion in 2019 and is poised to grow from USD 51.46 billion in 2023 to USD 97.02 billion by 2031, growing at a CAGR of 7.3% in the forecast period (2024-2031).
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Product ID: SQSG25A2013