Market Size of United States Automotive Airbag Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Airbag Systems Market Analysis
The United States Automotive Airbag Systems Market is anticipated to register a CAGR of over 5% during the forecast period 2020 - 2025.
Owning to rising accidents, the enactment of stringent safety regulations, and the increasing safety concerns among the consumers is expected to drive the airbag systems market. To meet the increasing standards for safety features in the vehicles, major airbags system manufacturers in the market are investing in the research and development activities.
Companies such as Continental AG, Robert Bosch GmbH, ZF Group, Joyson Safety Systems, Hyundai Mobis amongst others are some of the major players in the market studied.
However, in recent years many airbag system manufacturers are facing challenges due to injuries caused by faulty airbags which is forcing them to recall vehicles to replace faulty airbag systems. For instance, in 2019, Ford recalled more than 782,384 Ford, Lincoln, and Mercury vehicles to have their passenger-side front airbag inflators replaced.
