The global airbag control unit sensor market size is anticipated to surpass USD 642.3 million in 2023, forecast to thrive at a CAGR of 6.6% to be valued at USD 1,217.1 million from 2023 to 2033. Growth is attributed to an increase in traffic mortality rates.
| Attributes | Details |
|---|---|
| Market Share (2022) | USD 609.4 million |
| Market Share (2023) | USD 642.3 million |
| Market Share (2033) | USD 1,217.1 million |
| Market Share (2023 to 2033) | 6.6% |
Traditionally, Airbag Control Unit Sensors are vital components of electronic control systems. They possess a safety feature in harsh and challenging environments. The airbag control unit sensors are growing at a very rapid pace due to the rise in demand and sale of automotive vehicles.
The readings from the Airbag Control Unit sensors are utilized to assess and look at the signs from other sensors. The crash signs are then transferred to the airbag control unit and a new additional system to activate the hazard lights and inside lights and to turn off the fuel pump and engine halting. The restraint systems are additionally refined to be the most efficient according to the type of accident.
Growing demand for consumer comfort, advanced safety features, and improving government safety requirements are some factors that trigger the airbag control unit sensor market globally. Additionally, the highly efficient and cheaper prices of new-generation airbag control unit sensors are expected to contribute to the growth of the airbag control unit sensors market globally.
On the other hand, the high costs associated with the installation of airbag control unit sensors are expected to impede market growth during the analysis period.
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Increasing Traffic Mortalities to Encourage Players to Produce Efficient Airbag Control Unit Sensors
An increase in traffic mortality rates is one of the key factors that is expected to accelerate the demand for safety measures, which leads to the growth of the market during the forecast period. Other factors, such as the rise in life expectancy and safety rules implied by the government, are expected to propel the growth of the market globally over the analysis period.
Growing disposable income among the population leads people to invest in more advanced safety features in vehicles, which results in the overall growth of the market. In addition, rising consumer awareness towards safety gear leads to the evolution of the market globally. Moreover, airbag control unit sensors in two-wheelers may provide an opportunity for the market players to grow in the future.
Usage of ECUs, change in consumer lifestyles, technological advancements in the market, and consumer awareness towards their comfort & safety are the key factors that are expected to augment the growth of the airbag control unit sensor market in the forthcoming years.
High Costs Associated with the Airbag Control Unit Sensors to Hinder the Market
Although airbag control unit sensor has numerous benefits, there are innumerable obstacles likely to pose a challenge to market growth. High costs of repairing the airbag control unit sensors are one of the key factors that are expected to hamper the growth of the airbag control unit sensor market during the forecast period. Additionally, the high costs associated with the installation of airbag control unit sensors are also expected to impede market growth during the analysis period.
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Ongoing Research and Development in the Airbag Control Unit Sensors to Open Various Avenues of Growth
Players in the market are taking various initiatives to develop the airbag control unit, which is likely to offer various opportunities to the market during the forecast period. For instance, TRW Automotive Holdings Corp. announced its next-generation airbag control unit designed for maximum flexibility to allow the integration of a range of pre-crash occupant safety functions as well as inertial sensors for stability control.
Integrating inertial sensors into the airbag control unit offers several advantages. It places the sensors close to the vehicle's center of gravity- a prime location for both vehicle impact and inertial sensors. Such benefits are expected to augment the market size in the coming period.
Growing Infrastructure Development to Boost the Market in North America
In terms of regional platforms, North America holds the leading market share in the airbag control unit sensor industry, attributed to the growing technological innovations and research activities in the aerospace and automobile industries.
The rise in infrastructure development is one of the key factors that is expected to push the growth of the airbag control unit sensors market soon. The region is expected to accumulate a market share of 14.5% in 2023.
Growing Popularity of Vehicle Automation to Favor the Market in Europe
According to Future Market Insights, Europe is expected to provide immense growth opportunities for airbag control unit sensors and account for 18.8% of the global market revenue.
Due to key factors such as growing demand for more efficient and safer vehicles, European countries are emerging in the airbag control unit sensor market. In addition, the demand for airbag control unit sensors is expected to grow significantly during the forecast period, coupled with the increasing popularity of vehicle automation.
Increasing Launch of New Products in the Region to Support the Market Growth in Asia Pacific
According to the analysis, Asia Pacific is anticipated to be the most remunerative region for the airbag control unit sensor market during the forecast period. The growth of the market can be attributed to the presence of various developing countries such as India, China, and Japan, among others, launching new products in the market. For instance, in January 2019, Continental announced the addition of a new assembly to airbag control units (ACUs) at its Central Electronics Plant in Bangalore, India. Continental’s Airbag Control is designed on a modular safety platform called SPEED (Safety Platform for Efficient & Economical Design) that meets all market demands. Such factors are expected to benefit the Asia Pacific market during the forecast period.
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Continental (India), Tork Motors (India), TRW Automotive (United States), Hovding (Sweden), In&Motion (France), Airbag Technologies (Mexico), and Rivian (United States) are some emerging names in the global airbag control unit sensor market.
The contribution of startups is notable. For instance, in 2021, Continental, an India-based player, reached the milestone of offering one million airbag control units in 12 months. The high-on-safety technology company started ACU production in the Bengaluru plant in 2016. In 2019, the company added additional assembly lines to increase its capacity to meet the growing market demand. Such notable contributions by startups are anticipated to benefit the airbag control unit market in the forthcoming time.
Key players in the global airbag control unit sensor market include AUTOLIV, ZF Friedrichshafen AG, Ashimor, Takata Corporation, KSS, Toyoda Gosei Co. Ltd., Hyundai Mobis, Nihon Plast Co. Ltd., and Jinheng, among others.
Recent Key Developments in the Market Include:
Key Players in the Global Market:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Sensor Type, Airbag Type, Vehicle Type, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global airbag control unit sensor market is anticipated to secure USD 1,127.1 million by 2033 end.
The global airbag control unit sensor market is expected to display a CAGR of 6.6% from 2023 to 2033.
AUTOLIV, ZF Friedrichshafen AG, Ashimor, Takata Corporation, KSS, Toyoda Gosei Co. Ltd., Hyundai Mobis, Nihon Plast Co. Ltd., and Jinheng are some known players in the global airbag control unit sensor market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Airbag Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sensor Type 5.1. Mass 5.2. Roller 6. Global Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Airbag Type 6.1. Driver 6.2. Passenger 6.3. Knee 6.4. Curtain 6.5. Side 6.6. Roll-over 6.7. External 6.8. Seatbelt 6.9. Medical 7. Global Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vehicle Type 7.1. Passenger Cars 7.1.1. Compact 7.1.2. Mid-sized 7.1.3. Premium 7.1.4. Luxury 7.2. Commercial Vehicle/Light commercial vehicle 7.3. Heavy Commercial Vehicles 8. Global Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Airbag Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Airbag Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. AUTOLIV ZF 18.2. Friedrichshafen AG 18.3. Ashimor 18.4. Takata Corporation 18.5. KSS 18.6. Toyoda Gosei Co. Ltd. 18.7. Hyundai Mobis 18.8. Nihon Plast Co. Ltd. 18.9. Jinheng 18.10. Corsair Components 19. Assumptions & Acronyms Used 20. Research Methodology
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Airbag Control Unit Sensor Market
