The US passenger car airbag market is expected to have a modest growth at a CAGR of around 4.5% during the forecast period. The US is one of the global leaders in the automotive sector. Major factors for the significant market include high cost of the vehicle, high awareness related to road safety and cohesive government regulations. Passenger cars in the US are equipped with front airbag, side airbag, curtain airbag and about half of the passenger cars are equipped with knee airbags. These are the reason for the large airbag market in the country. The airbag market in the US is a matured market as passenger car airbag has been adopted decades ago. In September 1998, the government introduced the “Intermodal Surface Transportation Efficiency Act of 1991”. As per law, it is mandatory for all cars and light trucks to be equipped with a passenger car airbag which is being sold in the US. As per the International Organization of Motor Vehicle Manufacturers, out of 11.3 million total vehicles, around 2.8 million were passenger cars. The proportion of passenger car production to the total vehicle is least in the US as compared to major vehicle manufacturing companies globally. However, recall of vehicles due to faulty airbags is one of the major challenges for the market in the country.
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The US passenger car airbag market is segmented based on type and vehicle type. By type, the market is further analyzed into front airbag, side airbag, curtain airbag, and knee airbag. During the forecast period, the front airbag segment is expected to have a major market share, whereas Knee and curtain are expected to have a significant market growth rate. By vehicle type, the market is segmented into Hatchback, SUV, and Sedan. Significant growth in the SUV segment can be expected in the country.
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The companies which are contributing significantly in the market include Autoliv Inc., Continental AG, DENSO Corp., Hyundai Mobis Co., Ltd., Key Safety Systems, Inc., Robert Bosch GmbH, Toyoda Gosei Co., Ltd., TRW Automotive Holdings Corp., and others. The market players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market.
US Passenger Car Airbag Market- Segmentation
• Front Airbag
• Side Airbag
• Curtain Airbag
• Knee Airbag
By Vehicle Type
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• Autoliv Inc.
• Continental AG
• Daicel Corp.
• DENSO Corp.
• Global Safety Textiles, LLC
• Hyundai Mobis Co., Ltd.
• Key Safety Systems, Inc.
• NXP Semiconductors N.V.
• Robert Bosch GmbH
• Toyoda Gosei Co., Ltd.
• TRW Automotive Holdings Corp.
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