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APAC Airbag Market Worth $15.53 Billion By 2032 | CAGR 6.2% – By FMI

APAC Airbag Market

The APAC Airbag market is anticipated to reach a value of US$ 8,510.0 Mn in 2022 and is expected to grow at a CAGR of 6.2% from 2022 to 2032, according to FMI.

Over the following six years, the airbags industry is anticipated to expand at a double-digit CAGR. The market is led by North America, then Europe, then the Asia Pacific. The Asia Pacific area is anticipated to have rapid expansion shortly as a result of technological advancements and rising domestic demand for automobiles.

The market is expanding as a result of rising safety concerns and the increased use of safety features, particularly airbags, in the compact car category.

Analysis of automotive airbag demand from 2017 to 2021 revealed a historical growth rate of less than 6% CAGR, driven by consumers’ increasing spending due to rising disposable incomes and a general expansion of the automobile industry.

Initial COVID-19-related recessionary downturns, including fewer airbag sales, store closings, and temporary interruptions to the manufacturing cycle, dashed growth expectations.

Key Players:

  • Denso Corporation
  • Takata Corporation
  • Toyoda Gosei Co. Ltd.
  • Autoliv Inc.
  • Robert Bosch GmbH
  • Hyundai Mobis Co. Ltd.
  • Key Safety Systems Inc.
  • Daicel Corporation
  • ZF Friedrichshafen AG
  • Kolon Industries
  • Toray Industries Inc.
  • Hyosung Co.

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