Market Size of Europe Airbag Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Airbag Systems Market Analysis
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 & curtain airbags to provide head & 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.
