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Asia Pacific Airbag Market Size, Share, Trends & Forecast 2019-2025

Asia Pacific Airbag Market Size, Share, Trends & Forecast 2019-2025

Submitted by • March 11, 2020 www.omrglobal.com

Asia-Pacific is the leader in the global airbag market and is expected to grow at a CAGR of more than 7% during the forecasted period. The major factors for the growth of the market include significant vehicle sales in the region during the forecast period, and high vehicle exports by the countries including China, Japan, South Korea, and India. Moreover, cohesive government regulation, adoption of the New Car Assesment Program, increasing consumer awareness are among the major factor for the growth of the market. China is the leading contributor in terms of vehicles produced globally. As per the International Organization of Motor Vehicle Manufacturers, China has produced around 23.5 million passenger vehicles in 2018, followed by Japan and India. The top automotive brand of China includes FAW Group, BYD Company, Chery, Zhejiang Geely Holding Group Co., Great Wall Motors and so further.

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