Market Size of Mexico Airbag Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Mexico Airbag Systems Market Analysis
The Mexico airbag system market is expected to register a CAGR over 7% during the forecasted period (2020 - 2025)
- Mexico has 12.3 road fatalities per million inhabitants per year in road traffic crashes involving cars and busses. Passenger safety is of the utmost importance to the government as well as the companies. Regulations towards consumer safety and security have made manufacturers install safety devices in the cars. The government has made usage of seat belts and airbags mandatory which has resulted in decline of deaths due to accidents from 2,921 in 2017 to less than 2,500 in 2019. Consequently, risk factors as seat-belt use, and drink and drive is one of the major cause of these fatalities.
- The Airbag system requires advance technology and high initial investment. OEMs are opting for well-known manufacturers who are proving the airbag systems with advance technologies at low cost. This is limiting the penetration of new players into market. Many companies from North American region have set up their manufacturing units in Mexico due to low labour and production cost which is being supported by free trade deal between United States, Canada and Mexico. Mexico has exported more than 3.3 million vehicles in 2019. Although there has been decline in the production in past few years and on-going COVID-19 economic crisis, during the forecasted period the production is expected to increase at a steady pace which will help the Airbag system market to grow in Mexico.
Mexico Airbag Systems Industry Segmentation
The Mexico airbag system market report covers the latest trends and technological development in the automotive airbag system market, demand by airbag type, vehicle type, by user type, and market share of major automotive airbag system manufacturers across the country.
| Airbag Type | |
| Curtain | |
| Front | |
| Knee | |
| Sire | |
| Others |
| Automobile Type | |
| Passenger Vehicles | |
| Commercial Vehicles | |
| Busses | |
| Truck |
| Market by End Consumer | |
| OEMs | |
| After-Market |
Mexico Airbag Systems Market Size Summary
The Mexico airbag systems market is poised for significant growth, driven by increasing government regulations and consumer demand for vehicle safety. The mandatory installation of airbags and seat belts has contributed to a decline in road fatalities, underscoring the importance of passenger safety. The market is characterized by the presence of established manufacturers who leverage advanced technologies to provide cost-effective solutions, thereby limiting the entry of new players. The automotive industry in Mexico benefits from low labor and production costs, attracting North American companies to set up manufacturing units. Despite recent declines in production, the market is expected to recover steadily, supported by the region's free trade agreements and the growing demand for vehicles.
The global automotive sector is experiencing a resurgence, with rising demand for cars and commercial vehicles. This trend, coupled with stringent safety regulations, is anticipated to bolster the airbag systems market in Mexico. Key players such as General Motors and Volkswagen have shown production growth, with a significant portion of airbag systems produced in Mexico being exported to the United States and Canada. The market is witnessing rapid growth in specific segments like curtain and knee airbags, driven by increasing consumer awareness and demand for enhanced safety features. The presence of major manufacturers and ongoing investments in production facilities are expected to further propel market growth, despite challenges posed by past incidents of faulty airbags. The market remains consolidated, with significant mergers and acquisitions shaping its competitive landscape.
Mexico Airbag Systems Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.2 Market Restraints
-
1.3 Porters 5 Force Analysis
-
1.3.1 Threat of New Entrants
-
1.3.2 Bargaining Power of Buyers/Consumers
-
1.3.3 Bargaining Power of Suppliers
-
1.3.4 Threat of Substitute Products
-
1.3.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Airbag Type
-
2.1.1 Curtain
-
2.1.2 Front
-
2.1.3 Knee
-
2.1.4 Sire
-
2.1.5 Others
-
-
2.2 Automobile Type
-
2.2.1 Passenger Vehicles
-
2.2.2 Commercial Vehicles
-
2.2.3 Busses
-
2.2.4 Truck
-
-
2.3 Market by End Consumer
-
2.3.1 OEMs
-
2.3.2 After-Market
-
-
Mexico Airbag Systems Market Size FAQs
What is the current Mexico Airbag Systems Market size?
The Mexico Airbag Systems Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Mexico Airbag Systems Market?
ZF Friedrichshafen鈥� AG, Autoliv鈥疘nc , DENSO Corporation鈥� , Continental AG鈥� and Robert Bosch鈥疓mbH are the major companies operating in the Mexico Airbag Systems Market.
