Brazil passenger car airbag market is forecast to grow at a CAGR around 7% during the forecast period. The major factor for the growth of the market is a significant increase in passenger car production in the country. Brazil is among the few countries which registered positive growth in 2019 in vehicle production and registration. As per the National Association of Motor Vehicle Manufacturers, in 2019, around 2.45 million passenger cars were produced in the country as compared to 2.38 million in 2018. A growth of 2.6% is registered YoY in 2019 in passenger car production whereas passenger car registration has increased by 7.6% YoY. 

Rising disposable income of the people, increasing awareness related to road safety, high prevalence of road accidents and cohesive government regulations are some of the other factors which will augment the passenger car airbag market in the country. From January 2014, it is mandatory for all new cars to have the front airbag and antilock braking system. From 2020, all-new launch passenger cars in the country have to pass side-impact tests which will be carried by Latin NCAP. It is expected to augment the market of side airbags and curtain airbags in the country. From 2023, all car models have to pass side-impact tests in the country. 

The market is segmented on the basis of type and vehicle type. By type, the market is further segmented into front airbag, side airbag, curtain airbag, and knee airbag. During the forecast period, front airbag segment is expected to have a major market share with a significant growth rate in the country. By vehicle type, the market is segmented into Hatchback, Sedan, and SUV. The hatchback segment is expected to have a significant market growth during the forecast period. 

Major companies contributing significantly to the market include Autoliv Inc., Continental AG, DENSO Corp., Hyundai Mobis Co., Ltd., Key Safety Systems, Inc., Robert Bosch GmbH, TRW Automotive Holdings Corp. and so on. The market players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market.

Research Methodology

The market study is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to bring authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for automotive companies, auto-ancillary companies, vendors, government organizations, venture capitalists for the comprehensive market analysis. The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Brazil Passenger Car Airbag Market Research and Analysis by Type
2. Brazil Passenger Car Airbag Market Research and Analysis by Vehicle Type

The Report Covers

• Comprehensive research methodology of the Brazil Passenger Car Airbag market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Brazil Passenger Car Airbag market.
• Insights about market determinants which are stimulating the Brazil Passenger Car Airbag market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.