North America Airbag Market Size, Share, Trends & Forecast 2019-2025
Posted by OMR Global on March 5th, 2020
North America is expected to be a major contributor to the airbag market and is expected to grow at a CAGR of nearly 4.5% during the forecasted period. in the US, around 11.3 million vehicles are manufactured in 2018 out of which around 8.5 million were the commercial vehicle and 2.8 million vehicles were passenger cars. Cohesive government regulation, the high average cost of the vehicle and the high production volume of the vehicles in the region are the major factor for the growth of the market. Key Safety Systems, Inc., is one of the major airbag companies having headquarter in the US. It acquired a major airbag company named Takata corporation in 2017 to increase its market share all across the globe. Apart from Key Safety System, most of the other major market players have their manufacturing unit in North America, especially in the US. The US is the largest contributor to the airbag industry in North America. The downfall in the overall vehicle sales in the region is one of the major restraining factors of the market.
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The market is segmented by type and vehicle segments. By vehicle segment, the market is divided into a passenger vehicle and commercial vehicle. The passenger vehicle segment is further segmented into Hatchback, Sedan, and SUV. By type, the market is segmented into the front airbag, side airbag, curtain airbag, and knee airbag. The front airbag segment is estimated to be the largest market in the region. Knee airbag is improving continuously as it is deployed to save knee at the time of the collision and is expected to have a significant growth rate in the region.
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North America Airbag Market Segmentation
By Vehicle Type
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