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Increasing sales of vehicles and continues innovation by OEMs for providing better safety systems in car have accelerated the market, globally.
The market for air bag sensors is primarily driven by growing automobile industry and the demand for airbag employed in Light Commercial Vehicle (LCV) and trucks. Increasing rate of fatal accidents are propelling demand for airbag in the vehicle. For Instance, according to the association for safe international road travel, an estimated 3,287 deaths per day were reported due to road accidents. Automakers are focused on providing safety measure in car models by continuously innovating the systems to provide better facilities regarding safety of people. For instance, ZF Friedrichshafen AG, a germen car parts manufacturing company announced that by 2019, the company will provide a knee airbags to the European vehicle manufacturer.
The airbag prevent passengers from striking their head at the time of a crash, even if they forget to buckle up, while they are driving. Owing to the advantages of airbag systems in vehicles, the government bodies have imposed regulation on the automobile industries for inclusion of airbag safety modules in car models. These safety modules purely depend on the efficiency of the sensors used for manufacturing them. Sensors are responsible for accurately measuring the impact of collision and trigger the air bags to go off. The demand for airbags is high in the LCVs, as they are widely used for last mile connectivity and for distribution of goods and transportation of material of light construction.
Moreover, increase in per capita income and rapid growth in urbanisation has increased adoption of automobiles across the world. For instance: according to the International Organization of Motor Vehicle Manufacturers, the sales or registration of new passenger car was 69.5 million units in 2016 up from 66.3 million units. The government regulations related to safety measure vary on the basis of country. The intensity crash for deployment of the airbag depends on the market they are intended for. For instance, the U.S. imposed a regulation for the deployment of airbags for a deceleration of 23km/h for collision. International regulations are performance-based rather than technology-based, so airbag deployment threshold is a function of overall vehicle design.
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Automotive Airbag sensor Market: Regional Insight
The regional market for the airbag sensors is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Asia Pacific held the dominant position in the airbag sensors market and is expected to retain its dominance throughout the forecast period. India, China, Japan are some of the major countries, which drive growth of the airbag sensors market in this region. Furthermore, high sales of automotive vehicles in Asia Pacific is one of the major driving factor for growth of the market in this region. For instance, according to the International Organization of Motor Vehicle Manufacturers, the sales or registration of new passenger cars was 2.97 million units in India in 2016, and it increased from 2.77 million units in 2015. Similarly, in china the sales or registration of new passenger cars were 24.38 million units in 2016, which increased from 21.21 million units in 2015. Moreover, increasing government regulation related to automotive vehicle safety have accelerate the market growth in this region. For instance, in 2017, India Union minister of road transport & highway announced the Bharat new vehicle safety assessment program in which airbags, anti-lock braking system, and seat belt become mandatory to install in new vehicles.
Automotive Airbag Sensor Market: Competitive Insight
key players operating in the airbag sensor market include Autoliv Inc., Continental AG, Denso Corporation, Freescale Semiconductor, Key Safety Systems, Mitsubishi Electric Co., Ltd., Robert Bosch Corporation, Takata Corporation, Toyoda Gosei, and TRW Automotive
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