The Germany Airbag Systems Market is projected to grow with a CAGR of more than 6 % during the forecast period.
Key Market Trends
Passenger Vehicle Sales Driving Growth
Owing to the changes in emission standards by European Union from January 2020 with introduction of stricter CO2 limits, Automakers in the year 2019 pushed sales of passenger cars in the country with attractive offers for the old emission standard cars to the buyers. This resulted in a 5 % surge in sales cars in the year 2019.
The total German new car market grew 5% in 2019 to 3,607,258 cars of which 59% had petrol engines and 32% diesel. New electric passenger vehicle registrations in Germany in 2019 increased by 75.5% to 63,281 battery-electric cars. This increased electric cars’ share of the German new car market from 1.05% in 2018 to 1.75% in 2019.
There are very strict norms for passenger car safety in the country from very long time, also the car buyers are also aware and concerned about the road safety, so they prefer cars which are high on safety norms and ratings.
There is a European New Car Assessment Programme (Euro NCAP) is a consumer protection-oriented program to evaluate the safety of passenger cars. The test requirements to achieve the maximum score were changed progressively in recent years. the vehicle manufacturers have had to meet significant new requirements in multiple areas in order to achieve the highest rating (5 stars).
Airbag Module Captures the Market Share
The airbag module is responsible for receiving the information from the collision sensor, which is relayed to the airbag sensors and then the airbags are deployed. The airbag module is a computer that stores information. Thus, during a collision, the impact data is stored in the air bag module.
There are many players in the country who are spending heavily on research and development of airbag modules to decrease the response time of airbag systems and increase the safety for the passengers in the vehicle. For instance, in August 2019, the German airbag systems component maker, ZF has been named as the winner of 2019 Altair Enlighten award in the module category for its newly launched fabric housing knee airbag module. The innovation enhances the safety of passenger vehicle occupants and is the lightest such airbag module in the automotive industry. The new airbag module enables vehicle manufacturers to help optimize interior redesign requirements and increase design freedom while in some cases further reducing weight and costs.
Competitive Landscape
The Germany Airbag Systems Market is fragmented, with many players accounting for a small market share. Some of the prominent companies in Germany Airbag Systems Market are Autoliv Inc., Continental AG, Denso Corporation, Robert Bosch GmbH, Hyundai Mobis and others. The major players in the country are entering into strategic partnership with global leaders to gain considerable market share. The major players in the country are spending heavily and innovating new products in the market to gain more market share.
For instance, in July 2019, ZF introduced outside airbag, this is not a mandatory norm which is laid by the regulators in the country. But this external airbag predicts the collision and avoids any fatalities.
Reasons to Purchase this report:
- Owing to the high contribution of the automotive sector to the GDP of the country’s economy i.e. more than 15%, and several big OEMs like Audi, Volkswagen, BMW etc. present in the country, along with the country being the largest automobiles market in the European Union, the automotive demand witnessed a growth when the whole world witnessed a decline in demand during the year 2019.
- The safety norms for the vehicles in the country are stringent and the airbag systems are mandatory for vehicles in the country, which is a driving factor for the market.
- In 2018, the number of road accident fatalities in the country was 2.7% more than the 2017 figures. The Federal Statistical Office reported that 3,265 people were killed in traffic accidents in 2018.
Key Market Trends
Passenger Vehicle Sales Driving Growth
Owing to the changes in emission standards by European Union from January 2020 with introduction of stricter CO2 limits, Automakers in the year 2019 pushed sales of passenger cars in the country with attractive offers for the old emission standard cars to the buyers. This resulted in a 5 % surge in sales cars in the year 2019.
The total German new car market grew 5% in 2019 to 3,607,258 cars of which 59% had petrol engines and 32% diesel. New electric passenger vehicle registrations in Germany in 2019 increased by 75.5% to 63,281 battery-electric cars. This increased electric cars’ share of the German new car market from 1.05% in 2018 to 1.75% in 2019.
There are very strict norms for passenger car safety in the country from very long time, also the car buyers are also aware and concerned about the road safety, so they prefer cars which are high on safety norms and ratings.
There is a European New Car Assessment Programme (Euro NCAP) is a consumer protection-oriented program to evaluate the safety of passenger cars. The test requirements to achieve the maximum score were changed progressively in recent years. the vehicle manufacturers have had to meet significant new requirements in multiple areas in order to achieve the highest rating (5 stars).
Airbag Module Captures the Market Share
The airbag module is responsible for receiving the information from the collision sensor, which is relayed to the airbag sensors and then the airbags are deployed. The airbag module is a computer that stores information. Thus, during a collision, the impact data is stored in the air bag module.
There are many players in the country who are spending heavily on research and development of airbag modules to decrease the response time of airbag systems and increase the safety for the passengers in the vehicle. For instance, in August 2019, the German airbag systems component maker, ZF has been named as the winner of 2019 Altair Enlighten award in the module category for its newly launched fabric housing knee airbag module. The innovation enhances the safety of passenger vehicle occupants and is the lightest such airbag module in the automotive industry. The new airbag module enables vehicle manufacturers to help optimize interior redesign requirements and increase design freedom while in some cases further reducing weight and costs.
Competitive Landscape
The Germany Airbag Systems Market is fragmented, with many players accounting for a small market share. Some of the prominent companies in Germany Airbag Systems Market are Autoliv Inc., Continental AG, Denso Corporation, Robert Bosch GmbH, Hyundai Mobis and others. The major players in the country are entering into strategic partnership with global leaders to gain considerable market share. The major players in the country are spending heavily and innovating new products in the market to gain more market share.
For instance, in July 2019, ZF introduced outside airbag, this is not a mandatory norm which is laid by the regulators in the country. But this external airbag predicts the collision and avoids any fatalities.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Autolive Inc.
- Robert Bosch GmbH
- Continental AG
- Delphi Automotive Plc
- Denso Corporation
- Takata Corporation
- Toyoda Gosei Co. Ltd.
- TRW Automotive
- Hyundai Mobis Co. Ltd.
- Key Safety Systems
Methodology
LOADING...
