Global Automotive Airbag Market Report Size, Trends & Growth Opportunity, By Product Type (Frontal Airbag, Side Airbag, Knee Airbag, Others) , By Vehicle Type (Passenger Car, Commercial Vehicle), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & South Africa ) And Forecast Till 2027.
Global Automotive Airbag Market
The Global Automotive Airbag Market was worth USD 48 Billion in 2021 and is estimated to be USD 73.5 Billion growing at a CAGR of 5.85 % from 2022 to 2027.
Automotive airbags are passenger restraint devices that help protect the heads and chests of passengers in the event of a collision or crash. These are designed to respond and inflate in milliseconds, providing car passengers with cushioning.
Market Drivers
Airbags are included as standard equipment in the latest premium and midrange passenger automobile models that are entering the market. In addition, all types of cars will likely require greater safety equipment in the upcoming years. The sale of all types of automobiles will be fueled by rising disposable incomes of the expanding middle-class population as well as increased urbanization, which will accelerate market expansion over the course of the projection period.
Airbags must be installed in the front passenger and driver seats of all cars and light trucks sold in the United States, according to the Intermodal Surface Transportation Efficiency Act of 1998. As a result, the U.S. market for airbags has been expanding ever since. Also, the clearance of a draught GSR Notification to make at least 6 airbags mandatory to improve occupant safety in cars carrying up to 8 people was announced by Nitin Gadkari, Minister of Road Transport and Highways. Government adoption of these safety standards has considerably accelerated demand.
Manufacturers are also driven to create sophisticated airbag systems, such knee and side curtain airbags, as a result of the rising demand. Moreover, the industry will experience significant development as a result of customers' growing need for safety features. Also, one important reason driving the market's expansion is the rising number of bags per car.
Market Restraints
For car buyers in less developed economies, an airbag system is not their first priority. As a result, many automakers offer inexpensive airbags purely as a matter of compliance with safety standards. Unfortunately, in order to save money, passenger safety is sacrificed, and the airbag system's durability falls short of what customers would reasonably expect. As a result, buyers are less likely to purchase vehicles equipped with airbags. As a result, this industry must first work to eliminate low-cost airbag manufacturers before addressing the exorbitant cost of airbag systems for all types of vehicles.
Market Segmentation
The Global Automotive Airbag Market is segmented into Product Type (Frontal Airbag, Side Airbag, Knee Airbag, Others), Vehicle Type (Passenger Car, Commercial Vehicle) and Region (North America, Europe, Asia Pacific, Latin America, Middle East & South Africa).
Regional Analysis
Because of the region's increasing vehicle production and exports per year, the Asia Pacific market is likely to dominate the global automotive airbags market share. This expansion can be attributed to increased spending on passenger safety, which is expected to fuel demand for automotive and automotive safety components. The growing adoption of critical governmental initiatives, as well as the adoption of EVs, are expected to drive market development in the region during the forecast period.
Because of the presence of key automotive and automotive solutions players in this region, Europe holds the second-largest position in the global market. Consumer preferences for EVs, connected and autonomous vehicles, and shared mobility are expected to drive market growth in this region.
North America is expected to experience significant market growth during the forecast period. Rising government regulations for vehicle safety and standards, rapid adoption of new technologies, and high investment in product innovation are expected to propel the market in North America. Furthermore, due to strict regulatory implementation, frontal airbags have been required standard equipment for all passenger cars and light commercial vehicles in North America since 1998.
Key Players
The Key Players in the Global Automotive Airbag Market are Autoliv Inc, Joyson Safety Systems, Robert Bosch GmbH, Toyoda Gosei Co. Ltd, Denso Corporation, Hyundai Mobis Co. Ltd, Magna International , Aptiv PLC, ZF Friedrichshafen AG and Valeo SA
Market Taxonomy
Product Type
• Frontal Airbag
• Side Airbag
• Knee Airbag
• Others
Vehicle Type
• Passenger Car
• Commercial Vehicle
Regional Outlook
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and South Africa
Global Automotive Airbag Market
1 Introduction
1.1 Objective the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Automotive Airbag Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn
4.2.6 Post covid-19 world Supply& Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Automotive Airbag Market, By Product Type
5.1 Y-o-Y Growth Comparison, By Product Type
5.3 Global Automotive Airbag Market Share Analysis, By Product Type
5.3 Global Automotive Airbag Market Size and Forecast, By Product Type
5.3.1. Frontal Airbag
5.3.2. Side Airbag
5.3.3. Knee Airbag
5.3.4 Others
6 Global Automotive Airbag Market, By Vehicle Type
6.1 Y-o-Y Growth Comparison, By Vehicle Type
6.2 Automotive Airbag Market Share Analysis, By Vehicle Type
6.3 Automotive Airbag Market Size and Forecast, By Vehicle Type
6.3.1 Passenger Car
6.3.2 Commercial Vehicle
7 Global Automotive Airbag Market, By Region
7.1 Global Automotive Airbag Market Share Analysis, By Region
7.2 Global Automotive Airbag Market Size and Forecast, By Region
8 North America Automotive Airbag Market Analysis and Forecast (2022-2027)
8.1 Introduction
8.2 North America Automotive Airbag Market Size and Forecast, By Product Type
8.3 North America Automotive Airbag Market Size and Forecast, By Vehicle Type
8.4 North America Automotive Airbag Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Automotive Airbag Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 Europe Automotive Airbag Market Share Analysis, By Product Type
9.3 Europe Automotive Airbag Market Size and Forecast, By Vehicle Type
9.4 Europe Automotive Airbag Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Rest of Europe
10 Asia Pacific Automotive Airbag Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Asia Pacific Automotive Airbag Market Share Analysis, By Product Type
10.3 Asia Pacific Automotive Airbag Market Size and Forecast, By Vehicle Type
10.4 Asia Pacific Automotive Airbag Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific
11 Latin America Automotive Airbag Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Latin America Automotive Airbag Market Share Analysis, By Product Type
11.3 Latin America Automotive Airbag Market Size and Forecast, By Vehicle Type
11.4 Latin America Automotive Airbag Market Size and Forecast, By Country
11.4.1. Brazil
11.4.2. Rest of Latin America
12 Middle East Automotive Airbag Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Middle East Automotive Airbag Market Share Analysis, By Product Type
12.3 Middle East Automotive Airbag Market Size and Forecast, Vehicle Type
12.4 Middle East Automotive Airbag Market Size and Forecast, By Country
12.4.1. Saudi Arabia
12.4.2. UAE
12.4.3. Egypt
12.4.4. Kuwait
12.4.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Amphenol
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Delphi Automotive
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. Sumitomo Electric
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 TE Connectivity
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Hirose Electric Co. Ltd
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Molex
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 China Auto Electronics Group Limited
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Japan Aviation Electronics Industry, Ltd
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Yazaki Corporation
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 ERNI International AG
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
