Mexico Airbag Systems Market Size

Statistics for the 2023 & 2024 Mexico Airbag Systems market size, created by Mordor Intelligence™ Industry Reports. Mexico Airbag Systems size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Mexico Airbag Systems Industry

Mexico Airbag Systems Market Overview
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 7.00 %
Market Concentration High

Major Players

Mexico Airbag Systems Market Key Players

*Disclaimer: Major Players sorted in no particular order

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Mexico Airbag Systems Market Analysis

The Mexico airbag system market is expected to register a CAGR over 7% during the forecasted period (2020 - 2025)

  • Mexico has 12.3 road fatalities per million inhabitants per year in road traffic crashes involving cars and busses. Passenger safety is of the utmost importance to the government as well as the companies. Regulations towards consumer safety and security have made manufacturers install safety devices in the cars. The government has made usage of seat belts and airbags mandatory which has resulted in decline of deaths due to accidents from 2,921 in 2017 to less than 2,500 in 2019. Consequently, risk factors as seat-belt use, and drink and drive is one of the major cause of these fatalities.
  • The Airbag system requires advance technology and high initial investment. OEMs are opting for well-known manufacturers who are proving the airbag systems with advance technologies at low cost. This is limiting the penetration of new players into market. Many companies from North American region have set up their manufacturing units in Mexico due to low labour and production cost which is being supported by free trade deal between United States, Canada and Mexico. Mexico has exported more than 3.3 million vehicles in 2019. Although there has been decline in the production in past few years and on-going COVID-19 economic crisis, during the forecasted period the production is expected to increase at a steady pace which will help the Airbag system market to grow in Mexico.

Mexico Airbag Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)