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Asia Pacific Airbag Market Market Analysis & Opportunity Assessment, 2014 - 2020

Oct 15, 2014 | Chemicals & Materials | FMI

Airbags are driver safety devices deployed in vehicles toprovide cushion and protection to passengers during crashes/accidents. Airbagscomprise three crucial elements:bags, crash sensors and inflation systems.The bag is made of thin nylon fabric, which is folded into the dashboard, steering wheel, seat, roof or door. The crash sensor sends message to inflate the bag when there is a collision, while the inflation system reacts sodium azide with potassium nitrate to generate nitrogen gas. There are different types of airbags,such as side airbags, front airbags, and knee airbags. The market for airbags is expected to growby a double-digit CAGR in the next six years.

Increasingly stringent safety norms and regulations in major Asian countries such as India, China, Japan and South Korea are driving growth inthe airbags market inthe region.Additionally, some of the key programs thatratevehicles based on their safety performance, such asthe New Car Assessment Program(NCAP) are also fueling growth of airbags in Asia Pacific. Further, other drivers such as growing public awareness about vehicle safety, affordability and technological advancement arealso boosting the uptake of airbags in AsiaPacific.

Major players in the Asia Pacific airbag market include Autoliv, Inc., Robert Bosch GmbH, Delphi Automotive PLC, Continental AG, Takata Corporation, Toyoda Gosei Co. Ltd., Denso Corporation, Hyundai Mobis Co. Ltd, TRW Automotives, and Key Safety Systems, Inc.This market is highly competitive in nature and competition between the airbag module manufacturing firms is increasing, owing to high growth rate. However, high capital is required to set up manufacturing plants, making it difficult for new players to enter this market.