Rising Awareness among the Consumers about Safety, is expected to promote the Development of the Global Automotive Airbags & Seatbelts Market Post COVID-19

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The world is facing an unexpected change and numerous industries are facing a hard-hitting situation due to the COVID-19 pandemic. The COVID-19 outbreak has impacted negatively on the global automotive airbags & seatbelts market. However, market is expected to regain its importance after the end of pandemic stress owing to the strict rules and regulations by government regarding the safety of the people. Rising interest among people about protection devices, such as airbags & seatbelts in the cars that helps to avoid serious injuries during accidents. Thus these are the major factors that are driving the demand of the market in the forecast period. During this coronavirus crisis, we are helping our clients in understanding the impact of COVID-19 on the global automotive airbags & seatbelts market. 

Our report includes:

• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact

According to a new report published by Research Dive, the global automotive airbags & seatbelts market is anticipated to garner a revenue of $44.57 billion by the end of the forecast period. The global automotive airbags & seatbelts market is bifurcated on the basis of the type, application, end-user, and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis, and competitive players of the market. As per our analysts, growing awareness among consumers about safety and government-regulated safety norms is driving the market growth in the predicted period. In addition, strict rules and regulations around the world regarding the safety of the drivers is anticipated to act as a driver in the forecast period.

Airbags Segment will be the most Lucrative Growing Segment in the Forecast Period 

Based on type, the global automotive airbags & seatbelts market is fragmented into airbag and seatbelt. Airbag segment is further sub-segmented into frontal airbags, side airbags, knee airbags, and other airbags. Side-impact collisions can lead to severe damage to person inside the car, thus rising concern about the safety of the person driving the car has enhanced the demand of airbag segment in the forecast period.

Passenger Cars Application Type has the largest share in the revenue generation and is expected to be dominant in the forecast period

On the basis of application, the global automotive airbags & seatbelts market is divided into passenger cars, light commercial vehicles, buses, trucks, and others. The market for the passenger cars has the largest share in the revenue generation and is expected to be dominant until 2027 owing to increasing number of passenger car production. Improved standard of living and constant development has increased the number of people buying passenger cars thus it is impacting positively on the market.  

Commercial Vehicle Sub-Segment is anticipated to become the highest revenue generator

On the basis of the end-users, the automotive airbags & seatbelts market is classified into automotive industry. Automotive industry segment is further sub-segmented into heavy commercial vehicle (HCV), light commercial vehicle (LCV), electric vehicle type, hybrid electric vehicle (HEV), fuel cell electric vehicle (FCEV), battery electric vehicle (BEV), and others. Among these, commercial vehicles sub-segment is anticipated to become the highest revenue generator due to strict implementation of rules and regulations regarding passenger’s safety. 

Regional Outlook and Major Market Players

Global automotive airbags & seatbelts market is studied across North America, Europe, Asia-Pacific, and LAMEA. Among these, Asia-Pacific region has dominated the global market share and holds significant position in terms of revenue. Rising number of vehicle production has contributed towards the market dominance.

The most prominent players in the global automotive airbags & seatbelts market are Autoliv Inc., Ningbo Joyson Electronic Corp., ZF Friedrichshafen AG, Toyoda Gosei Co. Ltd.,The Hyundai Motor Group, Continental AG, Denso Co., Hyundai Mobis, Robert Bosch GmbH, Ashimori Industry Co. Ltd., and others.