The South Korean automotive safety airbag market was valued at US$0.435 billion in 2021 and is projected to expand at a CAGR of 4.58% over the forecast period to reach US$0.595 billion by 2028.
The market in South Korea is majorly supported by the new safety regulations by the Korean government under which the main strategies of the Korean New Car Assessment Program roadmap 201-2019 included the introduction of advanced airbags in the transportation sector to enhance the safety for the drivers. However, the market may be restrained by the fact that South Korea’s automobile industry is currently facing a tough time. This is because the automotive industry including sales, manufacturing by volume, and other indicators has gone down.
This research study examines the South Korean automotive safety airbag market based on various segments: product type, vehicle type, and end-user. First, a brief overview of the market details key driving factors and challenges. Next, Porter's five forces model analyzes South Korea’s automotive safety airbag industry comprehensively. This is followed by industry value chain analysis which determines the companies which are part of the different processes and contributing to various sectors.
The study also presents in-depth information concerning the development, trends, and industry policies and regulations affecting the South Korean automotive safety airbag market. Moreover, the research study analyzes the overall regulatory framework of South Korea’s automotive safety airbag sector, offering stakeholders a better understanding of the key factors influencing the overall market environment.
South Korea automotive safety airbag market – Forecasts from 2023 to 2028 is a comprehensive and latest report. It provides vital market information to executives and interested stakeholders to enable them to get vital market information. The report also analyzes the competitive landscape and details strategies of key market players and also plots them on our vendor matrix in four quadrants: leader, follower, challenger, and niche.
The scope and coverage of the South Korean automotive safety airbag market report are as below:
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2021 | US$0.435 billion |
| Market Size Value in 2028 | US$0.595 billion |
| Growth Rate | CAGR of 4.58% from 2021 to 2028 |
| Base Year | 2021 |
| Forecast Period | 2023 – 2028 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered | Product Type, Vehicle Type, and End-User |
| Companies Covered | Continental AG, Robert Bosch GmbH, Autoliv Inc., DENSO Corporation, ZF Friedrichshafen AG |
| Customization Scope | Free report customization with purchase |
Different segments covered under the South Korean automotive safety airbag market report are as below: