Market Trends of Europe Airbag Systems Industry
This section covers the major market trends shaping the Europe Airbag Systems Market according to our research experts:
Passenger Car Segment Captures Market
Owing to the demand of passenger cars in the region, airbag systems in passenger cars captures the largest market share. During the year 2019, when the automotive sales in the rest of the world witnessed low sales figures and registered a negative growth rate, the European market outperformed the rest of the world and grew with a growth rate of 1.2% as compared to last year. New passenger vehicle registrations in the European Union (EU) increased to 15,340,199 cars which is 180,000 cars more than in 2018.
There are many major players in the region like Volkswagen, Audi, BMW etc., which are collaborating with major players in the market and spending heavily on improving the safety features for the passengers and attract more demand. For instance,
- In June 2019, ZF introduced world's first pre-crash external side airbag system, which deploys milliseconds before a collision. It provides an additional lateral crumple zone, which can help save lives and reduce occupant injury severity by up to 40 per cent.
- In April 2020, Honda Jazz became first of the brand's models in Europe to feature a new front-center airbag as standard, bringing potentially significant reductions in injury levels for rear passengers in an accident.
Germany Remains the Largest Market
With the change in tax regime proposed by the European Union, the passenger cars sales in the country were up by 5% and reached to 3,607,258 cars which is the largest growth in the country during the last decade. During the year 2019, around 4.7 million vehicles were manufactured in Germany.
There are major players in automotive OEM like, Audi, BMW, Iveco, MAN, Mercedes, Opel, Porsche, and Volkswagen which are based in Germany. Along with OEM, the country has well renowned auto-ancillary companies that supply their products all across the globe. Some major is Bosch GmbH, Continental AG, ZF TRW, BASF SE, Mahle GmbH, Thyssen Krupp and so on.
For instance, in November 2018, Robert Bosch, has introduced Bosch MEMS sensor which enables faster airbag deployment, which improves the driver and passenger safety in motor vehicles.
In July 2019, ZF has announced an innovative product in airbag system market, with the launch of external airbag which is able to predicts a crash and deploys when it predicts a hit is coming and aims to prevent the impact from delivering the full blow.
