Global Automotive External Side Airbags Market: Overview
Right from their invention, products in the global automotive external side airbags market have gained utmost importance in the automotive industry. Traditional airbags were installed in the vehicles from mid 1970s and usage of airbags has grown in the past forty years. Products in the global automotive external side airbags market ensure the safety of passengers as well as driver in cases of crashes and accidents. Increase in the number of pedestrian accidents as well as rising demand for passenger vehicles are two of the most essential factors for the expansion of the global automotive external side airbags market.
The report is a holistic assessment of crucial factors influencing the growth of the global automotive external side airbags market during the forecast period of 2021 to 2031. It highlights various key market segments and sub-segments according to their market share, size, and consumer demographical data. The study presents thorough analysis of key trends, both historic and current as well as recent developments to chart the growth trajectory of global automotive external side airbags market in coming years.
The study also records technological advancements and breakthroughs in product innovations that can revolutionize the global automotive external side airbags market in coming years. It also highlights various challenges as well as opportunities in the market for both existing and aspiring players. The study notes the global supply and demand graphs in global automotive external side airbags market to identify the crucial drivers and restraints faced by the businesses in the industry.
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Global Automotive External Side Airbags Market: Major Trends and Drivers
Rising instances of driver negligence while driving has led to an increased demand for pedestrian protection airbags. This trend is likely to aid in the expansion of the global automotive external side airbags market in coming years. However, high cost associated with aftermarket installation and lower fuel economy of vehicles may hamper the development in the global automotive external side airbags market in coming years. On the other hand, rising popularity of autonomous vehicles is also expected to increase the adoption of the products in the global automotive external side airbags market exponentially in coming years.
Global Automotive External Side Airbags Market: Key Players and Manufacturers
Some of the major and leading vendors in the global automotive external side airbags market include Autoliv, Takata, Ashimori Industries, Continental, DELPHI, Nihon Plast, ZF TRW, Hyundai MOBIS, Toyoda GOSEI, Bosch, DAICEL, Key Safety Systems or KSS, and Ningbo Joyson Electronic, among others. Players and manufacturers in the global automotive external side airbags market are working steadily towards developing next generation of external side airbags that ensure maximum pedestrian safety.
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Global Automotive External Side Airbags Market: Regional Assessment
Geographically, the North America region is expected to account for the largest share in the global automotive external side airbags market in coming years. This trend can be attributed to rising adoption of new and latest technologies pertaining to automobile safety as well as high disposable income amongst working professionals in regional economies such as Canada and the United States. Another region expected to showcase excellent development opportunities in the global automotive external side airbags market is Asia Pacific. Growth of the Asia Pacific region in the global automotive external side airbags market can be attributed to rising sales of luxury vehicles as well a growing automotive industry in the region.
Europe is expected to account for the significant share in the global automotive external side airbags market in coming years, owing to the presence of a massive number of automobile manufacturers in the region. Furthermore, recent regulations imposed by European commission to ensure pedestrian safety have compelled the European automotive manufacturers to invest heavily into research and development to innovate their external side airbags. This trend is also fostering the development in the global automotive external side airbags market in Europe in coming years.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.