Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Global Airbag Sensors Market Overview
Airbag is the gas inflated device which is used to protect the passengers from injuries during accidents with a release velocity of up to 320 km per hour while taking only 15-25 milliseconds to open. With the help of airbag sensor technology a person can survive the crashes. Firstly, the signal of airbag sensor has to go through ADC (Analog to Digital Converter) and then it touches the AC voltage source and the high pass filler. To bloat the airbag, the vehicles are fitted with the sensors which make an alert sound to inform the rider about the safety system enablement. Airbag sensors are organized by the central unit known as Airbag Control Unit. This ACU consist of various types of sensors depending on the various aspects of the accidents such as speed, brakes, and others. Airbag Sensors are generally fitted to the front of the vehicle due to the maximum number of collisions taking place on the front end. The airbag sensors are accompanied with safety sensors on which the intensity of the collision is measured. If the intensity surpasses the specific threshold results in triggering the airbag sensor that releases the airbags accordingly.
Market Size & Forecast
Airbag Sensors Market is anticipated to record a CAGR of 5.9% over the forecast period. The airbag sensors market is expected to reach a value of USD 3.4 billion at the end of the forecast period. Many multi-national companies are concentrating towards new product advances in airbag sensors. Moreover, the many advantageous properties of airbag sensors are exploited in the field of military vehicles and on road automobiles now and then.
Currently the global airbag sensors market is observing vibrant growth owing to increasing number of road accidents. Advances in automotive industry in the past few years and growing technological explorations are projected to drive airbag sensors market besides growing population and rise in per capita income are anticipated to provide a steady growth to the global airbag sensors market during the forecast period. On the basis of regional platform, global Airbag Sensors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Airbag sensor is a high security and safety product in the automotive industry and on account of growing automotive advancements in the region, North America is panned to observe substantial market growth of airbag sensors. North America is estimated to be followed by Asia Pacific in terms of consumption due to expanding airbag sensors requirements increasingly produced vehicles across the region. On the back of multiplying used of airbag sensors in growing aerospace industry for higher employee as well as passenger safety measures, Asia Pacific is budding as a regional Airbag Sensors and its derivatives consumption market.CLICK TO DOWNLOAD FREE SAMPLE
Europe is expected to drive demand and positively impact airbag sensors market growth over the forecast period owing to increasing airbag sensors application in military automotive and aviation industry. However, weak economic conditions in countries such as Russia, Spain and others is expected to showcase a more modest growth of the airbag sensors market across the region over the forecast period.
Market Segmentation
Our-in depth analysis of the global Airbag Sensors market includes the following segments:
By Airbag Type
By Sensor Type
By Mode of Sensors
By End-User Industries
By Region
Global Airbag Sensors Market is further classified on the basis of region as follows:
Growth Drivers & Challenges
The rising demand for airbag sensors on account of growing disposable income of the present population is surging the demand for customization in automobile industry. Rapid economic development with thriving automotive manufacturing sector is expected to boost the automotive airbag sensor market in the developing regions. Moreover, increasing on road automobile numbers is expected to increase aftermarket sales along with the rising trend of motorization among the current population is driving the airbag sensors market significantly at present and is expected to impact the market strongly during the forecast period. Moreover, latest technological advancements and enhancements in airbags for various safety measures in passenger duty on road vehicles as well as passenger aircrafts is estimated to propel the airbag sensors market sturdily. Furthermore, rapid urbanization along with positive GDP figures of developed and developing nations such as U.S., China and others and favorable government initiatives regarding individual safety are projected to flourish the growth of airbag sensor market in automotive industries.
However, concerns such as carelessness on the part of consumer along with cost constraints associated with airbag sensors is predicted to attribute as a key restraining factor in the growth of airbag sensors market.
Key Players
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