Market Size of Africa & Middle East Airbag Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Africa & Middle East Airbag Systems Market Analysis
The Africa and Middle East Airbag Systems Market is projected to grow with a CAGR of more than 6 % during the forecast period.
- The passenger cars demand in 2019, witnessed a positive growth rate in the region after 4 years of decline. In the middle east and north African region the number of registrations of passenger cars were up by more than 3% with around 2 million new registrations done in the whole year. In the African continent around 869,000 vehicles were sold.
- Lack of regulations regarding safety of passengers in vehicles in many counties in the region is restraining growth in the market.
- With the initiatives from the world organizations like United Nations and other non-profit organizations regarding road safety to curb the increasing road accidents and spread awareness among people in different parts of the world. People living in MENA region are also now opting for vehicles which are equipped with at least basic safety features like airbags, ABS for safety concerns. For instance, in April 2018, United Nations launched an initiative to improve road safety worldwide, where it urged the adoption policies and measures to implement vehicle safety regulations to ensure that all new motor vehicles meet applicable minimum regulations for the protection of occupants and other road users, with seat belts, airbags and active safety systems fitted as standard equipment.
