0
2022
Airbag Market

Airbag Market

by Module (Inflator, Air bag), by Type (Front Airbag, Knee Airbag, Side Airbag, Curtain Airbag), by Vehicle Type (Passenger Vehicle, Commercial Vehicle), by Material (Polyester Fiber, Nylon, Others), by Sales Channel (OEM, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020-2030

✷  Report Code: A01522
Pages: 140
Mar 2022 | 37809 Views
Author(s) : Abhay S , Sonia M
Tables: 187
Charts: 62
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

The global airbag market was valued at $27.6 billion in 2020, and is projected to reach $47.0 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030.

An airbag is a part of the safety restraint system in cars rapidly filled with air when an accident occurs. They are soft pillow-like balloons consisting of a sensor, inflation system, which are bag folded into the steering wheel, dashboard, seat, door, or roof. The primary purpose of the airbag is to cushion the driver or passenger during vehicle crashes & protect the body from striking interior objects of the vehicle such as the steering wheel or window. In the event of a collision, the sensors inside the vehicle give factual information to the airbag electronic controller unit (ECU), including collision sort, angle, and cruelty of impact. The airbag ECU’s crash algorithm determines the impression of crash & triggers several igniting circuits to deploy one or more airbag modules within the vehicle. A modern vehicle is designed with multiple airbags situated on a different side and the frontal location of the person driving the vehicle.

The COVID-19 crisis creates uncertainty in every market, including the automotive sector. The closure of assembly plants and large-scale manufacturing interruptions has led to the decline in global demand for automobiles, indirectly affecting the airbag market. Governments across different regions announced total lockdown and the temporary shutdown of industries, leading to border closures that restricted the movement of transportation & logistics services. The COVID-19 health crisis forced the automotive industry to look for alternate sources and prioritize import substitution with their production activities & supply chain. However, the overall service activities of market players have registered a steady and favorable recovery in the subsequent months with increase in the sales of passenger cars, which leads to a rise in demand of the airbag market. As per the current scenario, the overall world is getting back on track slowly; with new restriction & policies, a significant recovery in product sales across the retail sector may positively influence the airbag market owing to the latest technological innovations regarding vehicle safety.

Research and development efforts coupled with technological advancements are considered the most critical airbag industry value chain components. Furthermore, the industry has witnessed the development of new products and technologies, including pedestrian airbags, smart airbags, and occupant sensor systems, to meet the growth in demand for more innovative and safer airbags. For instance, in July 2021, Toyoda Gosei Co., Ltd. developed its driver-side airbag with a new innovative donut-shaped structure to cradle and hold the head & reduce rotation of the driver during frontal collisions and mitigate the impact on the driver’s head & chest. Thus, the increased sophistication of systems & competitive dynamics and development of rollover & side impact systems emphasize large-scale vehicle manufacturers on promoting usage of airbags, including occupant sensing systems and anticipatory crash technologies.

Airbag Market
By Module

Your browser does not support the canvas element.

Inflator is projected as the most lucrative segments

Get more information on this report : Request Sample Pages

Factors such as a rise in consumer awareness toward vehicle safety features, growth in the automotive sector, and competition among OEMs are expected to drive the growth of the airbag market. In addition, the rise in the number of fatal road accidents and the government's implementation of strict safety regulations to prevent them are anticipated to boost the market's growth. However, advanced technological features that increase car prices and high replacement costs restrain the market growth. Furthermore, the introduction of airbags in two-wheelers and low production costs in developing nations provide lucrative growth opportunities for the market players.

The market segmentation is based on module, type, vehicle type, material, sales channel, and region. By module, the market is classified into inflator and airbag. By type, the market is segmented into the front airbag, side airbag, knee airbag, and curtain airbag. By vehicle type, the market has been bifurcated into passenger vehicle and commercial vehicle. By material, the market has been segmented into polyester fiber, nylon, and others. By sales channel, the market has been segmented into original equipment manufacturers (OEMs) and aftermarket. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Airbag Market
By Type

Your browser does not support the canvas element.

Knee Airbag is projected as the most lucrative segments

Get more information on this report : Request Sample Pages

The key players that operate in the global airbag market areAutoliv Inc., Hyundai Mobis,Joyson Safety Systems, Toray Industries, Inc., Daicel Corporation, Kolon Industries, Inc.,Rane Group, Neaton Auto Products Manufacturing, Inc., Toyoda Gosei Co., Ltd., and ZF Friedrichshafen AG.

Rise in consumer awareness toward vehicle safety features

Road accident is a significant concern worldwide, especially when driving on roads with heavy traffic & terrible weather conditions. According to World Health Organization, nearly 1.25 million people die in road accidents each year. For instance, to improve the overall vehicle safety to reduce the number of collisions, airbags are majorly used in vehicles to reduce the impact of accidents. Furthermore, rise in awareness among the general population & increased disposable income has led the consumers to spend on the vehicle's safety features. Nowadays, leading manufacturers introduce vehicles with side airbags (SABs) to reduce serious chest injuries in side-impact collisions. In 2019, Autoliv Inc. launched a new front-center airbag, mounted in the space between the driver and the front-seat passenger, that reduces the risk of trauma to the head, shoulder, and chest & saves lives in side-impact crash situations. Thus, the adoption of advanced safety systems (airbags) & raising awareness of the consumers toward safety features is expected to drive the airbag market in the forecast period. 

Airbag Market
By Vehicle Type

Your browser does not support the canvas element.

Commercial Vehicle is projected as the most lucrative segments

Get more information on this report : Request Sample Pages

Growth in the automotive sector and competition among car manufacturers

The automotive industry is racing toward a new world with growth in sustainability, change in consumer behavior, encompassed electric vehicles, connected cars, mobility fleet sharing, and improved lifestyles. According to the European Automobile manufacture Association, in 2021, the passenger car registrations in the European Union increased by 10% compared to last year's same month. Furthermore, the demand for Special Utility Vehicles (SUVs) has surged recently due to increase in leisure and tour activities globally. In addition, rise in competition among automotive manufacturers (such as General Motors, Volkswagen, Toyota, Daimler, Ford Motors, and others) due to the factors such as innovation and development time, reliability, fuel economy, safety, product quality & features, and pricing has created competition among the key players. Thus, the rise in urbanization & industrialization has increased the demand for commercial vehicles and passenger vehicles.

Airbag Market
By Material

Your browser does not support the canvas element.

Polyester Fiber is projected as the most lucrative segments

Get more information on this report : Request Sample Pages

Advanced technological features that increase car prices

Cars today have more expensive safety equipment and features than ever before. In India, Central Motor Vehicles Rule, 1989 mandated safety provisions in passenger cars. In addition, according to Intermodal Transport Surface Efficiency Act in the U.S., all-light trucks and vehicles should have airbags on both sides of the front seats. Such government policies, majorly in developing countries, to execute strict safety regulations and increase competition among the car manufacturers have led to the inclusion of advanced technological features. This strategy causes a hike in car prices; hence, cost-effectiveness is not attained. Owing to this, the cars are ultimately targeted to the market's premium segment. Therefore, this factor inhibits the growth of the world airbag market.

Airbag Market
By Sales Channel

Your browser does not support the canvas element.

Aftermarket is projected as the most lucrative segments

Get more information on this report : Request Sample Pages

Introduction of airbags in two-wheelers

The concept of the airbag system was introduced for passenger cars and heavy-duty vehicles for the safety of passengers & drivers to a great extent. However, innovative ideas such as introducing airbags in new segments such as two-wheelers are expected to provide an opportunity for the growth of the world airbag market. For instance, in 2021, Autoliv Inc. entered into a partnership with Piaggio Group to develop an airbag for two-wheelers. The company has already started full-scale crash tests to check if this system works as planned and designed. In a 2-wheeler vehicle system, the airbags are fitted on both sides of the bike so that total protection of the vehicle can be covered; hence, pedestrian safety can be achieved. Thus, adopting innovative ideas for providing complete security to the motorcycle rider by implanting the airbags is expected to reduce the fatality rate by 20% to 30%, consequently creating market opportunities for airbag manufacturers during the forecast period.

Airbag Market
By Region

2030
Asia-pacific 
North America
Europe
LAMEA

Europe would exhibit the highest CAGR of 6.5% during 2021-2030

Get more information on this report : Request Sample Pages

Key Benefits For Stakeholders

  • This study presents the analytical depiction of the global airbag market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents detailed impact analysis information related to the key drivers, restraints, and market opportunities.
  • The current market is quantitatively analyzed from 2021 to 2030 to benchmark financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Airbag Market Report Highlights

Aspects Details
By Module
  • Inflator
  • Air bag
By Type
  • Front Airbag
  • Knee Airbag
  • Side Airbag
  • Curtain Airbag
By Vehicle Type
  • Passenger Vehicle
  • Commercial Vehicle
By Material
  • Polyester Fiber
  • Nylon
  • Others
By Sales Channel
  • OEM
  • Aftermarket
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, U.K., Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest Of Asia Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Autoliv Inc., daicel corporation, Hyundai Mobis Co Ltd, joyson safety systems, Kolon Industries Inc., Neaton Auto Products Manufacturing, Toray Industries, toyoda gosei, ZF Friedrichshafen AG, Rane Group
 

Loading Table Of Content...


 
 

The current business scenario of the airbag market has witnessed significant growth during the forecast period owing to growth in consumer awareness toward vehicle safety, the use of advanced technology in automotive safety, and growth in the automobile sector. In accordance with the insights of the CXOs of leading companies, Asia-Pacific is expected to dominate the global airbag market, owing to its massive potential for setting up manufacturing plants and high consumer base. For instance, in January 2019, Continental AG expanded its airbag control unit (ACU) manufacturing plant in Bangalore, India, due to an increase in safety awareness & demand for safety technologies such as airbags, ABS, and seat belt reminders in India. 

According to insights gathered from primary sources, the escalating sale and production of commercial & passenger vehicles across the globe are also expected to drive the market's growth during the forecast period. In March 2021, according to the International Organization of Motor Vehicle Manufacturers, the production of passenger & commercial vehicles in the U.S. reached around 21,084,417 units. In addition, the automotive giants such as Ford, Tesla, and Mercedes have planned vehicle launches, with the advanced airbag system, as per the regulatory policies. Vehicle launches such as Audi eTron GT, BMW iX3, and Mustang Mach E are some of the much-awaited luxury passenger vehicles that is expected to provide lucrative expansion prospects for airbag manufacturers as well as companies operating in aftermarket sales.  

Factors such as a rise in consumer awareness toward vehicle safety features, growth in the automotive sector, and competition among OEMs are expected to drive the growth of the airbag market. In addition, the rise in the number of fatal road accidents and the government's implementation of strict safety regulations to prevent them are anticipated to boost the market's growth. However, advanced technological features that increase car prices and high replacement costs restrain the market growth. Furthermore, the introduction of airbags in two-wheelers and low production costs in developing nations provide lucrative growth opportunities for the market players.

Among the analyzed regions, Asia-Pacific is the highest revenue contributor, followed by Europe, North America, and LAMEA. On the basis of forecast analysis, Europe is expected to maintain its lead during the forecast period, owing to the increased government regulations supporting the need for mandatory airbags in vehicles across the region.

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
FREQUENTLY ASKED QUESTIONS?

A. The global airbag market was valued at $27.6 billion in 2020, and is projected to reach $47.0 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030.

A. Companies such as Autoliv Inc., Hyundai Mobis, Joyson Safety Systems, Toray Industries, Inc. and others are the major manufacturers in the airbags industry

A. The report sample for global automotive regenerative braking system market report can be obtained on demand from the website.

A. The key segments covered in the report includes module, type, vehicle type, material, sales channel and region.

A. Different types of airbags such as front, knee, side, curtain airbags are there used in a vehicle

A. The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS

Purchase Full Report of
Airbag Market

Start reading instantly.
This Report and over 19,644+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,456
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Mar 2023 - Mar 2024)
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Mar 2023 - Mar 2024)
  • Single User
  • $5,769
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Mar 2023 - Mar 2024)
  • Five Users
  • $6,450
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Mar 2023 - Mar 2024)
  • Enterprise
    License/PDF

  • $10,995
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Mar 2023 - Mar 2024)
  • Library
    Membership

  • $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers