Automotive Airbag Market Presents and Future Statistics | Forecast to 2032

Automotive Airbag Market

The automotive airbag market experienced a market value of USD 26.0 billion in 2022 and is projected to reach USD 51.97 billion by 2032, growing at a compound annual growth rate (CAGR) of 8% during the forecast period. The increasing demand for safety features in vehicles, stricter government regulations, and a rise in road incidents worldwide are the primary drivers of market revenue growth. The vehicle airbag system plays a crucial role in mitigating crash effects and ensuring passenger safety.

The market for airbag systems is expected to grow due to the rising consumer awareness of safety features. Advancements in passenger safety have led to the development of modern airbag systems that provide enhanced protection. Technological advancements, such as sensors, cameras, and advanced algorithms, have contributed to the improved efficiency of airbag systems, thereby fueling market revenue growth. The increasing popularity of connected cars and electric vehicles is also anticipated to drive the demand for automotive airbag systems in the coming years.

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The growing demand for side and curtain airbags is another factor propelling the automotive airbag industry. These airbags offer additional safety to passengers in the event of side impact collisions, which are more prevalent on today’s roads. Governments worldwide are mandating the installation of side and curtain airbags in all new vehicles to enhance passenger safety, thus driving market revenue growth.

Furthermore, stringent government regulations pertaining to passenger safety are expanding the car airbag market. Regulatory bodies such as the National Highway Traffic Safety Administration (NHTSA) and the European New Car Assessment Programme (Euro NCAP) have established safety requirements that necessitate the installation of airbags in vehicles. These regulations compel manufacturers to meet the safety standards set by the authorities, thus driving the demand for airbag systems.

Competitive Landscape:

  • Takata Corporation (now owned by Joyson Safety Systems)
  • Autoliv, Inc.
  • ZF Friedrichshafen AG
  • Denso Corporation
  • Toyoda Gosei Co., Ltd.
  • Key Safety Systems
  • Continental AG
  • Hyundai Mobis Co., Ltd.
  • Robert Bosch GmbH
  • Ningbo Joyson Electronic Corp. (formerly Key Safety Systems)

Airbag Type Outlook (Revenue, USD Billion; 2019-2030)

  • Front Airbag
  • Side Airbag
  • Curtain Airbag
  • Knee Airbag
  • Others

Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Takeaways of the Competitive Overview Section:

  • Overview of the company profiles of each market player
  • Industrial chain analysis of each player
  • Revenue share contribution
  • Sales network and distribution channels and net profits and losses of each company
  • Key business growth strategies are undertaken by these players

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