According to the latest market study released by Technavio, the global automotive external airbags market is expected to reach 833.39 thousand units by 2021, growing at a CAGR of more than 10%.
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Technavio has published a new report on the global automotive external airbags market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Automotive External Airbags Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report considers a combination of top-down and bottom-up approaches, wherein our in-house databases have been used to arrive at the global automotive external airbags market to calculate the market size.
The growth of the global automotive external airbags market is mainly attributed to OEM's push toward active and passive PPSs, as pedestrian protection accounts for 20% of the scoring criteria by Euro NCAP. Although, NCAP scores are less relevant in developing economies like India and China, they act as a prime driver for automobile sales in developed economies like Europe and the US.
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Technavio's automotiveanalysts categorize the global automotive external airbags market into the following OEM segments:
- BMW
- Mercedes-Benz
- Land Rover
- Volvo
- Others
The top three OEM segments in the global automotive external airbags market are:
Global automotive external airbags market for BMW
BMW has always been an early adopter of new safety and driver assistance features. It is the first OEM to introduce soft-close door in automobiles. The main advantage of BMW is that it is a globally recognized brand, both in the premium as well as luxury segments. BMW 7 series, the flagship model of BMW, has always differentiated itself in the market by initiating advanced features in the form of safety and luxury features.
According to Siddharth Jaiswal, a leadautomotive electronics analyst from Technavio, "BMW has implemented external pedestrian airbags in its X5 model. Although its other models have implemented other passive PPSs like active hood, the company is skeptical about the large-scale adoption of pedestrian protection airbags. The shift of OEMs' focus has been toward the development of active PPS, as prevention is better than cure
Global automotive external airbags market for Mercedes-Benz
The German automaker has always been the frontrunner in adopting advanced safety and luxury features. Mercedes-Benz has implemented external airbags in some models in the A class and C class. The company has been focusing on the collinear development of both active and passive PPSs. It has implemented passive PPSs like the active hood in many models.
Despite all the above initiatives, the company is still probing the market before full-scale implementation of pedestrian protection airbags. As a result, the adoption of external airbags in Mercedes-Benz will be slightly lower than the market average. However, the shifting focus of OEMs toward autonomous automobiles has motivated leading brands like BMW and Mercedes-Benz to enhance their safety offerings, which is the primary concern in autonomous automobiles.
Global automotive external airbags market for Land Rover
Land Rover is a brand of the British car manufacturer Jaguar Land Rover, which was acquired by Tata Motors, an Indian auto manufacturer. Some of the successful models of Land Rover include Defender, Range Rover Evoque, Freelander, Range Rover, Range Rover Sport and Discovery. The OEM has implemented pedestrian protection airbags in its newly launched model Discovery Sport.
"The European car manufacturer has always invested in the development of advanced safety features. For instance, Land Rover is the first OEM to equip its vehicles with hill descent control, a safety feature that controls the speed of the vehicle while descending a hill," asserts Siddharth.
The top vendors highlighted by Technavio's research analysts in this report are:
- Autoliv
- Hyundai Mobis
- Takata
- TOYODA GOSEI
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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