Automotive Airbag Market Size is projected to reach USD 17.30 billion by 2030, growing at a CAGR of 5.85%: Straits Research

The global Automotive Airbag market size was valued at USD 10.37 billion in 2021. It is estimated to reach USD 17.30 billion by 2030, growing at a CAGR of 5.85% during the forecast period (2022–2030). Market value of USD 2,622 million, Europe is the second-largest region in the worldwide automobile airbag industry.

| Source: Straits Research Straits Research

New York, United States, July 18, 2022 (GLOBE NEWSWIRE) -- In a life-threatening collision, airbags deploy as a safety measure. During a frontal collision, people continue to move with the force of the vehicle's speed before the accident, known as inertia. This force can propel occupants into the steering wheel dashboard or windscreen, causing catastrophic harm. Seatbelts and airbags are designed to stop the effects of inertia and protect occupants from damage. Similarly, airbags prevent occupants from rapid forward movements and provide excellent general injury protection.

Airbags quickly inflate and deflate at precisely the proper times. The weight and location of passengers, the direction and energy of impact, and the rollover status are determined by sensors. Sensors may be pre-triggered when an airbag deploys. For example, a minor bump or pothole could trigger airbags. 

After airbag deployment, all sensors should be replaced. Various electronic systems may need to be reset after an airbag deployment. If the SRS light comes on, it means there's a problem with the system, and the clock spring should be replaced when the steering wheel airbag deploys. Replacement of an airbag should only be done by a qualified service facility.


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The Escalating Demand for Passenger Vehicles and Vehicle Safety Regulations to Increase the Market Demand

The demand for passenger vehicles is increasing in developing countries such as India and China, owing to increased disposable income, expanding employment rates, high-paying salaried occupations, and easy access to automotive loans. 

Governments all around the globe have mandated that vehicle manufacturers include airbags in their vehicles to reduce the number of fatalities caused by accidents. For instance, the government of India ordered all the passenger vehicle manufacturers to provide airbags in front driver and co-passenger safety.


Vehicle Safety Policies to Create a Lucrative Opportunity in Latin American

The severe vehicle and passenger safety rules have now been applied in many nations worldwide. However, Latin American countries, including Argentina, Brazil, Colombia, Ecuador, Mexico, and Uruguay, have opted out of such laws. Governments in these nations are now studying UN Regulations and consumer information systems to improve safety and reduce the number of fatalities caused by accidents.

Report MetricDetails
  Market SizeUSD 17.30 Billion by 2030
  CAGR5.85% (2022-2030)
  Historical Data2019-2020
  Base Year2021
  Forecast Period2022-2030
  Forecast UnitsValue (USD Billion)
  Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments CoveredBy Position, By Fabric, By Type, By Distribution Channels, By Regions
  Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
  Key Companies Profiled/VendorsContinental AG, Aptiv Plc, Toyoda Gosei, Denso Corporation, Robert Bosch, Key Safety Systems, Mitsubishi Electric, ZF, Infineon Technologies AG, Rhodius GmbH, Tokia Rika, Sumitomo Electric Industries, Ltd, Ashimory Industry, Telamon
  Key Market OpportunitiesRapid Growth and Demand of Electric Vehicle
  Key Market DriversPassenger Vehicle Rise to Spur the Market Growth

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Impact of Covid-19

The lockdown has had a global impact on automakers, who have reported a significant drop in sales due to production halts. As the Coronavirus continued to wreak havoc on economies, automakers had to shut down operations due to the risk of the virus spreading. Last month, Volkswagen only sold 131 vehicles, compared to 2.751 in the same month the previous year. Maruti Suzuki, India's largest carmaker, reported a 47% drop in sales.

In 2020, Europe produced 10.8 million passenger cars and 2.1 million commercial vehicles. Automobile airbag demand is related to the total number of vehicles manufactured. As a result, the market for airbags was affected in the same way. Several factors contributed to this, including whole and partial shutdowns of manufacturing facilities, restrictions on commodity movement, a ban on import and export operations, and the closure of showrooms, to name a few.


Recovery from Covid-19

As most nations have exited the lockdown or reduced the lockdown-related regulations, the global automotive sector has begun to recover significantly. It has been discovered that most car manufacturers and dealers have resumed full operations in specific regions and intend to restore manufacturing facilities as soon as possible.


Key Highlights

  • The global Automotive Airbag market is expected to grow at a CAGR of 5.85% between 2022 and 2030, rising from USD 10.37 billion in 2021 to USD 17.30 billion bt 2030.
  • Frontal airbags held a 64% market share in 2021 and are expected to grow at a CAGR of 6.0% between 2022 and 2030.
  • During the projection period, the passenger car category is expected to dominate the market. It currently controls 70.5% of the market.
  • The coated category is expected to grow at a CAGR of 13.67% from 2022 to 2030, with a market share of USD 7,215 million in 2021.


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Regional Insights

The Asia-Pacific region is anticipated to be the world's largest automaker. Among the major automakers represented in the region are Volkswagen, Toyota Motor Corp., Honda Motor Co. Ltd., and General Motors Co. The region's demand for passenger and commercial cars is expected to grow at a high rate due to greater consumer buying power, rising disposable income, changing lifestyles, and increasing urbanization.

With a market value of USD 2,622 million, Europe is the second-largest region in the worldwide automobile airbag industry. This is due to a high concentration of prominent manufacturers and many ongoing research and development operations. 


List of Top Global Automotive Airbag Market Manufacturers

  • Continental AG
  • Aptiv Plc
  • Toyoda Gosei
  • Denso Corporation
  • Robert Bosch
  • Key Safety Systems
  • Mitsubishi Electric
  • ZF
  • Infineon Technologies AG
  • Rhodius GmbH
  • Tokia Rika
  • Sumitomo Electric Industries, Ltd
  • Ashimory Industry
  • Telamon


Automotive Airbag Market- Segmentation

By Position

  • Frontal Airbag
  • Side Airbag
  • Knee Airbag

By Fabric

  • Coated
  • Non-Coated

By Type

  • Passenger Vehicle
  • Commercial Vehicle

By Distribution Channel

  • OEM
  • Aftermarket

Regions Covered

  • North America
  • Europe
  • Asia-Pacific
  • SAMEA


TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Automotive Airbag Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Position Overview
    1. Introduction
      1. Market Size & Forecast
    2. Frontal Airbag
      1. Market Size & Forecast
    3. Side Airbag
      1. Market Size & Forecast
  5. Fabric Overview
    1. Introduction
      1. Market Size & Forecast
    2. Coated
      1. Market Size & Forecast
    3. Non-Coated
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Position
        2. By Fabric
      3. Canada
        1. By Position
        2. By Fabric
      4. Mexico
        1. By Position
        2. By Fabric
      5. Latin America
        1. By Position
        2. By Fabric
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Position
        2. By Fabric
      3. France
        1. By Position
        2. By Fabric
      4. U.K.
        1. By Position
        2. By Fabric
      5. Italy
        1. By Position
        2. By Fabric
      6. Spain
        1. By Position
        2. By Fabric
      7. Rest of Europe
        1. By Position
        2. By Fabric
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Position
        2. By Fabric
      3. China
        1. By Position
        2. By Fabric
      4. Australia
        1. By Position
        2. By Fabric
      5. India
        1. By Position
        2. By Fabric
      6. South Korea
        1. By Position
        2. By Fabric
      7. Rest of Asia-Pacific
        1. By Position
        2. By Fabric
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Position
        2. By Fabric
      3. South Africa
        1. By Position
        2. By Fabric
      4. Kuwait
        1. By Position
        2. By Fabric
      5. Rest of Middle East & Africa
        1. By Position
        2. By Fabric
  7. Company Profile
    1. Continental AG
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Aptiv Plc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Toyoda Gosei
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/automotive-airbag-market/toc 


Market News

  • February 2022- DENSO Corporation ("DENSO") and Sony Semiconductor Solutions Corporation ("SSS") announced that DENSO would invest USD 0.35 billion in Japan Advanced Semiconductor Manufacturing, Inc. ("JASM"), TSMC's majority-owned manufacturing affiliate in Kumamoto Prefecture, Japan. Due to this equity transaction, DENSO will hold a more than 10% equity position in JASM.
  • January 2022- Continental AG and Volterio are collaborating to develop fully automated charging robots for electric vehicles in January 2022.
  • January 2022- Toyoda Gosei Co., Ltd. (TOKYO:7282) has created a lighter weight oil pump, one of the component elements in automotive transmissions, using plastic instead of metal in some areas of the pump.
  • February 2022- The Mitsubishi Electric Corporation has been granted a contract to provide communications-based train control (CBTC) wayside technology to handle train traffic on the Queens Boulevard Line's east end (QBL).


News Media: 

An Introduction to the Global Automotive Aftermarket Industry in 2020

India’s Shrinking Auto Business is Shifting Insurers’ Focus to Non-Auto Business

Waymo To Sell LIDAR Sensors To Cut Down Cost Of Self Driving Cars

2030: India’s Electric Vehicle Deadline? Optimistic or Realistic?

India’s Automotive Sector Outlook

The Automotive Air Suspension Industry has an Increasing Focus on Safety and Comfortable Vehicles

Virtual Car Key Market Outlook 2027, Key Trends and Market Dynamics


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