The market is expected to gain momentum from a rise in the implementation of strict safety rules and regulations for pedestrians and drivers. Additionally, governments of various countries are enforcing OEMs to install airbags in commercial vehicles as well as passenger cars to double the safety features.
In terms of vehicle type, the market is grouped into commercial vehicles and passenger cars. Amongst them, at present, the passenger car segment holds the largest automotive airbags market share. It is projected to lead the market in the coming years. The governments of several countries are putting forward stringent laws regarding the safety of the passengers. Combined with this, a rise in the production and sales of passenger cars in emerging nations would augment the growth of this segment.
Global Automotive Airbags Market Size to Hit USD 22 53 Billion with 8 2% CAGR by 2025; Rising Global Concerns for the Safety of Drivers and Pedestrians to Surge Demand: Fortune Business Insights™ yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.