The Europe Airbag Systems Market is projected to grow with a CAGR of more than 7 % during the forecast period.
- With technological advancement in automobile space and presence of several premium OEM brands like Audi, BMW, Volkswagen and others in the region, the demand of passenger as well as commercial vehicles are very promising as compared to the global scenario. The OEMs in the region are exporting their vehicles to many parts of the world, so the exports plays a major role in European automotive market.
- Growing safety regulations for safety of driver and passengers and with the advancement in material used for making airbags with developments in side and curtain airbags to provide head and neck protection to passengers in side collision crashes are enhancing the growth in the market.
- The demand for electric vehicles in the region is increasing with a very high rate. In 2019, 564,206 plug-in electric cars were sold in Europe, which is higher by 45% numbers in 2018.
- However, there are many small local players present in the market which are providing relays for vehicles is a concern for the major players and the industry.
Key Market Trends
Passenger Car Segment Captures Market
Owing to the demand of passenger cars in the region, airbag systems in passenger cars captures the largest market share. During the year 2019, when the automotive sales in the rest of the world witnessed low sales figures and registered a negative growth rate, the European market outperformed the rest of the world and grew with a growth rate of 1.2% as compared to last year. New passenger vehicle registrations in the European Union (EU) increased to 15,340,199 cars which is 180,000 cars more than in 2018.
There are many major players in the region like Volkswagen, Audi, BMW etc., which are collaborating with major players in the market and spending heavily on improving the safety features for the passengers and attract more demand. For instance,
- In June 2019, ZF introduced world’s first pre-crash external side airbag system, which deploys milliseconds before a collision. It provides an additional lateral crumple zone, which can help save lives and reduce occupant injury severity by up to 40 per cent.
- In April 2020, Honda Jazz became first of the brand’s models in Europe to feature a new front-center airbag as standard, bringing potentially significant reductions in injury levels for rear passengers in an accident.
Germany Remains the Largest Market
With the change in tax regime proposed by the European Union, the passenger cars sales in the country were up by 5% and reached to 3,607,258 cars which is the largest growth in the country during the last decade. During the year 2019, around 4.7 million vehicles were manufactured in Germany.
There are major players in automotive OEM like, Audi, BMW, Iveco, MAN, Mercedes, Opel, Porsche, and Volkswagen which are based in Germany. Along with OEM, the country has well renowned auto-ancillary companies that supply their products all across the globe. Some major is Bosch GmbH, Continental AG, ZF TRW, BASF SE, Mahle GmbH, Thyssen Krupp and so on.
For instance, in November 2018, Robert Bosch, has introduced Bosch MEMS sensor which enables faster airbag deployment, which improves the driver and passenger safety in motor vehicles.
In July 2019, ZF has announced an innovative product in airbag system market, with the launch of external airbag which is able to predicts a crash and deploys when it predicts a hit is coming and aims to prevent the impact from delivering the full blow.
The Europe Airbag Systems Market is fragmented, with many players accounting for a small market share. Some of the prominent companies in the Europe Airbag Systems Market are Robert Bosch, Denso Corporation, Autoliv Inc., Continental AG and others. The major players in the region are spending heavily in research and development of new products and delivering mobile cranes globally. For instance,
- In November 2019, Autoliv introduced airbag that prevents passengers from colliding during a car impact. The new Autoliv Front Center Airbag helps avoid driver-to-interior and driver-to-passenger impact. The inboard seat mounted airbag deploys in the space between the driver and the front-seat passenger, providing protection for them from colliding during a side impact and reduces risk of trauma to head, shoulder and chest.
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