Overview of the global automotive external airbags market
Technavio’s market research analyst predicts the global automotive external airbags market to grow steadily at a CAGR of above 10% by 2021. One of the key factors for the growth of this market is the increase in pedestrian deaths due to distracted driving. The primary reason for distraction is the high usage of cell phones while traveling. The overall traffic fatalities can directly or indirectly be attributed to the use of cell phones while traveling on the road. According to this market study, texting while driving is six times more likely to cause an accident than drunk driving. The exponentially rising number of pedestrian deaths due to distracted driving will propel the growth of the automotive external bag market during the forecast period.
Integration of pedestrian protection system (PPS) with other in-vehicle systems is one of the rising trends in the industry. Current collision avoidance systems using forward-looking sensors are extremely ineffective in poor weather conditions. To complement the demand for better and more efficient systems, vendors in the external pedestrian airbags market introduced laser headlights. Laser headlights are of a much higher lumen capacity and have a longer range even under poor weather conditions. The use of multiple laser diodes also helps to concentrate the beam in a narrow point (at the phosphorous element), to generate maximum utility from the power consumed. It is expected that laser headlights could come equipped with auxiliary inputs for the current advanced collision warning, excellent collision braking, adaptive cruise control, and advanced driver assistance systems in the next few years.
Competitive landscape and key vendors
Currently the automotive external airbags market in growing due to the increase in awareness of passenger safety among OEMs. The key focus areas for external airbags manufacturers in the external pedestrian airbags market will be cost and product differentiation in terms of quality, reliability, and technology. The cost will be one of the key factors for competition as it will help OEMs to expand their market to other target segments such as low- and mid-segment vehicles.
Leading vendors in the market are –
- Autoliv
- Hyundai MOBIS
- Takata
- TOYODA GOSEI
The other prominent vendors in the automotive external airbags market include Ashimori Industry, Bosch, Continental, DAICEL, DELPHI, Key Safety Systems (KSS), Nihon Plast, Ningbo Joyson Electronic, ZF TRW.
Segmentation by OEM and analysis of the automotive external airbags market
- BMW
- Mercedes-Benz
- Land Rover
- Volvo
During 2016, BMW dominated the automotive external airbags market and accounted for a major part of the overall market share. Early adoption of safety features has been the primary contributor to this dominance. BMW is a globally recognized brand, both in the premium as well as luxury segments. For instance, BMW 7 series, the flagship model of BMW, has always differentiated itself in the external pedestrian airbags market by inducing advanced features in the form of safety and luxury features.
Geographical segmentation and analysis of the automotive external airbags market
In this market study, analysts have estimated EMEA to dominate the external pedestrian airbags market during the forecast period. Factors such as vehicle security and comfort have become key focus areas for consumers, regulators, and OEMs in Europe. Increasing emphasis on vehicle safety and stringent safety regulations to curb vehicle-related crashes and casualties have led Europe to be one of the largest markets for automotive pedestrian airbags.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global automotive external airbags market?
- What are the key market trends impacting the growth of the global automotive external airbags market?
- What are the challenges to market growth?
- Who are the key vendors in the global automotive external airbags market?
- What are the market opportunities and threats faced by the vendors in the global automotive external airbags market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global automotive external airbags market?
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