Dublin, Feb. 11, 2020 (GLOBE NEWSWIRE) — The “Automotive Airbags – Market Analysis, Trends, and Forecasts” report has been added to ResearchAndMarkets.com’s offering.
The global market for Automotive Airbags is projected to reach US$71.8 billion by 2025, driven by the indispensability of air bags as a key mandated safety technology for all vehicles. Adding to the positive outlook for the market is the stable automobile production trend; development of new air bag technologies; decline in costs of driver side airbags; development of smart airbags with sensors; focus on road safety as a result of the recent spike in road accidents and the resulting legislation of regulations that mandate installation of airbags in all types of automobiles, especially in developing economies.
Product recalls is the emerging new risk for auto OEMs, which is compounded by complexity of global decentralized supply chains, stringent government safety mandates that push up quality related risks, and increasing cost pressure for suppliers and cost based decisions that bring-in inherent vulnerabilities. With product related risks becoming the single biggest threat for OEMs, the importance of supplier relationship management (SRM) is coming to fore. Globalization has cast a ‘Ripple effect’ on product recalls making them larger, wider, deadlier and devastating for stakeholders. Global companies today sell millions of cars worldwide and source components from numerous manufacturers worldwide. Managing this complex global supply chain is the biggest and an increasingly difficult challenge for OEMs today. Takata’s recalls has laid bare major gaps in SRM practices in the automotive industry. Over 70% of OEMs have 0% visibility of their tier 2 &3 suppliers. Most supplier programs are built only for tier 1 suppliers. The need of the hour is the development of robust, responsible relationships with suppliers to reduce the risk of recalls.
A strong OEM-supplier governance mechanism will also ensure socially responsible recalls and quicker recovery of both parties from a recall crisis. Strategic supply chain management supported by supply chain analytics and software systems for supplier tracking and management, is therefore growing in importance. Especially against the backdrop of the progress being made in the commercialization of autonomous cars and smart cars loaded with electronic and software features such as autonomous-driving assistance, geolocation services etc., the focus on ‘zero-defect’ manufacturing should gain more significance. OEMs need to move from reactive fire-fighting to recall prevention by stepping up quality-management strategies from single quality processes to integrated quality systems.
The United States and Europe represent large markets worldwide with a combined share of 50.8% of the market. China ranks as the fastest growing market with a CAGR of 6.5% over the analysis period supported by strong proliferation of frontal driver airbags, increase in global road safety partnerships and transfer of traffic safety knowledge to motorizing Asian countries, high motor vehicle accidents as a result of improper road infrastructure, and encouraging macro market trends such as stable automobile production and sales as a result of economic growth, aspirational lifestyles of the middle class and a parallel increase in per capita vehicle ownership rates.
Competitors identified in this market include:
- Ashimori Industry Co. Ltd.
- Autoliv Inc.
- Continental AG
- Denso Corporation
- Hyundai Mobis Co. Ltd.
- Infineon Technologies AG
- Joyson Safety Systems Inc.
- Nihon Plast Co. Ltd.
- Neaton Auto Products Manufacturing Inc.
- Robert Bosch GmbH
- Toyoda Gosei Co. Ltd.
- Toshiba Electronic Devices & Storage Corporation
- ZF Friedrichshafen AG.
For more information about this report visit https://www.researchandmarkets.com/r/tdh9sc
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
