Automotive Airbag Market Future Demand, Growth, Share and Analysis with forecast 2024
Transparency Market Research (TMR), a market intelligence and research firm, has recently published a market study on the global market for automotive airbags, estimating that the market to expand at a CAGR of 8.10% during the period 2014 to 2020 and reach a market value of US$29.7 bn by the end of the forecast period.The worldwide global automotive airbag market stood at US$17.2 bn in 2013, states the research report, titled “Automotive Airbag Market- Global Industry Analysis, Size, Growth and Forecast 2014 - 2020”. The rapid rise in the automotive industry, particularly increasing production of cars, has fueled this market significantly.Apart from this, the rising awareness regarding safety while driving among consumers has also increased the growth quotient of this market in recent times, the report says. The durability of low-priced airbags is, however, a matter of concern owing to which consumers are showing less interest in them, impacting the global market negatively. Rea...
