The global automotive airbag demand is subjected to record a CAGR of 4.4% during the forecast period. The market revenue is likely to be valued at USD 12.2 billion in 2023, and exhibit a revenue growth of USD 35 billion by 2033. The growth in the market is ascribed to the following:
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Airbags, even in today's high-tech automobiles, provide additional safety protection and operate best in conjunction with seatbelts. Key players develop, manufacture, and market protective systems such as airbags, seatbelts, and steering wheels for all major automotive manufacturers around the world, as well as mobility safety solutions such as pedestrian protection, connected safety services, and safety solutions for powered two-wheeler riders, through group companies.
As the world's leading automobile safety provider, the majority of key players have an established track record. This is likely to contribute to the global automotive airbag market growth. For decades, they have been committed to saving lives by developing technological advances such as the first seatbelt, pretensioner, side airbag, and knee airbag. Key players strive to continue to innovate, evolve, and lead in this rapidly changing world by taking a multi-modal approach to transporting people, goods, and services beyond traditional passenger cars and looking at ways to leverage their core expertise toward saving more lives in new applications, which surges the adoption of automotive airbag.
Furthermore, important businesses produce vital components for the ignition and deployment of an airbag. They also provide a range of sophisticated and cost-effective test services suited to industrial requirements. With airbags for self-driving cars, important companies are establishing themselves as global leaders in the broader mobility safety arena, outside the light vehicle safety market, by concentrating on vulnerable road users such as pedestrians, cyclists, and motorcyclists. This is estimated to support the global automotive airbag market growth.
Every year, these road users account for more than half of all traffic deaths worldwide. The fact that most significant stakeholders assert that the well-known and sturdy technology stays unchanged is what makes their progress so intriguing. They offer significant weight reductions without sacrificing functionality.
These airbags provide additional safety by aiding with early head/neck restraint in a far-side impact. They are also given packaging flexibility so that they may be coupled with a variety of sitting situations. It has also enhanced its rating via innovation that satisfies new Euro NCAP far-side standards. All these factors are anticipated to expand the global automotive airbag market size.
| Attributes | Details |
|---|---|
| Automotive Airbag Market HCAGR (2017 to 2022) | 3.8% |
| Automotive Airbag Market CAGR (2023 to 2033) | 4.4% |
| Market Size for Automotive Airbag (2023) | USD 12.2 billion |
| Market Size for Automotive Airbag (2033) | USD 35 billion |
Rising disposable income levels have influenced consumers to invest more in car safety measures, which has increased the need for automobile airbags to some extent. Increasing customer knowledge regarding technical advancements connected to car safety systems may also operate as a market driver in the future. Airbag technology on two-wheelers may spark innovations in the automotive airbag market trends.
Factors such as dependability, safety, and comfort function as a catalyst and impact consumers' purchasing decisions. Various firms are developing innovative airbag technology to protect the safety of their clients. For instance, a certain market player recently introduced an exterior airbag that may lessen the impact of an oncoming car, so lowering damage. Furthermore, when an impending hit is detected, this smart automobile airbags system activates.
The statistics accumulated by Future Market Insights, reveal the global forum of the automotive airbag which has witnessed an unprecedented surge over the past few years. The key providers in the market are in conjunction with the increasing demand for automotive airbag. There has been a gradual rise from a CAGR of 3.8% registered during the period of 2017 to 2022 and is likely to expand at a massive 4.4% in the forecast period.
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Airbag systems are not the biggest concern for vehicle owners in developing countries. As a result, many automobile manufacturers supply low-cost airbags just to comply with safety rules. However, in order to save money, passenger safety is sacrificed, and the durability of that airbag system falls short of consumer expectations. This inhibits people from purchasing automobiles with airbag systems, and hence, hampers the global automotive airbags market growth.
On the contrary, several airbag producers have begun to use nylon in the production of airbags due to its inherent features of strength, energy absorption, and temperature resistance. Furthermore, significant technological improvements in automobile airbags, such as pedestrian airbags, rear-seat airbags, external airbags, and roof airbags, are expected to drive market expansion throughout the forecast period.
| Country | United States |
|---|---|
| CAGR (2023 to 2033) | 3.8% |
| HCAGR (2017 to 2022) | 3.1% |
| Country | United Kingdom |
|---|---|
| CAGR (2023 to 2033) | 4.3% |
| HCAGR (2017 to 2022) | 2.5% |
| Country | Germany |
|---|---|
| CAGR (2023 to 2033) | 4.5% |
| HCAGR (2017 to 2022) | 3.2% |
| Country | China |
|---|---|
| CAGR (2023 to 2033) | 5.7% |
| HCAGR (2017 to 2022) | 5.2% |
| Country | India |
|---|---|
| CAGR (2023 to 2033) | 12.3% |
| HCAGR (2017 to 2022) | 11.7% |
| Attributes | Details |
|---|---|
| USA Market Size (2033) | USD 7.5 billion |
| USA Market Absolute Dollar Growth (USD million/billion) | USD 2.3 billion |
North America is a significant market, with the USA providing several growth opportunities and growing at a CAGR of 3.8%. The value of the automotive airbag market in the USA is estimated to reach a high of USD 7.5 billion by the year 2033. This is attributed to rising government regulations for automotive safety and standards, rapid acceptance of new technologies, and significant investment in product innovation. Furthermore, due to tight regulatory implementation, frontal airbags have been required standard equipment for all passenger automobiles and light commercial vehicles in North America since 1998.
The expertise of key players in the United States extends beyond airbag systems. To mention a few, they handle module programming, engine ECU programming, DPF regenerations, injector programming, immobilizer programming, key programming, non-start difficulties, engine ECU update, calibrations, airbag installation, and airbag ecu repairs.
Before airbags were legally mandated in the United States, a certain significant market player already supplied airbags. The constant development of airbag textiles and their adaptation to the highest technical standards have made them one of the automobile industry's most sought-after partners. This particular market player employs all commercially available yarn titers ranging from 110 to 940 dtex in various structures ranging in width from 250 cm to 500 g/m2. Their textiles fulfill a wide range of technical specifications and may be coated with a number of substrates.
| Attributes | Details |
|---|---|
| United Kingdom Market Size (2033) | USD 630.1 million |
| United Kingdom Market Absolute Dollar Growth (USD million/billion) | USD 217.1 million |
Europe currently holds the second-largest share of the automotive airbag market. United Kingdom holds a significant share of 4.3%, with an estimated value of USD 630.1 million to be recorded by 2033. This is owing to the presence in this region of key automotive and automotive solutions players. Consumer preferences for EVs, connected and driverless vehicles, and shared mobility are expected to drive market expansion in this region.
Key players in the United Kingdom provide single-stage and dual-stage airbag inflator technologies that have been proven to fulfill the most severe legislative and customer standards across the world. Furthermore, hybrid inflators supplied by certain important players inflate the airbag using inert ecologically benign compressed gas and a minimal quantity of pyrotechnic material. In comparison to pyrotechnic and stored gas inflators, hybrid inflators have various benefits.
| Attributes | Details |
|---|---|
| Germany Market Size (2033) | USD 2.6 billion |
| Germany Market Absolute Dollar Growth (USD million/billion) | USD 911.4 million |
Germany is a market with incredible potential, growing at a profit of 4.5%. The market is approximated to be valued at USD 2.6 billion. Moreover, Germany is the world's largest automotive hub and a strategic powerhouse, with over 40 automotive factories.
As demand for enhanced car interior connection grows, OEMs and OESs aim to build airbags that meet growing safety regulations while also conserving space and weight. Hence, German manufacturers provide exceptional bond performance under adverse weather conditions, as well as integration with small or complicated elements while retaining aesthetics.
| Attributes | Details |
|---|---|
| India Market Size (2033) | USD 1.9 billion |
| India Market Absolute Dollar Growth (USD million/billion) | USD 1.3 billion |
Europe currently holds the second-largest share of the automotive airbag market. United Kingdom holds a significant share of 4.3%, with an estimated value of USD 630.1 million to be recorded by 2033. This is owing to the presence in this region of key automotive and automotive solutions players. Consumer preferences for EVs, connected and driverless vehicles, and shared mobility are expected to drive market expansion in this region.
Key players in the United Kingdom provide single-stage and dual-stage airbag inflator technologies that have been proven to fulfill the most severe legislative and customer standards across the world. Furthermore, hybrid inflators supplied by certain important players inflate the airbag using inert, ecologically benign compressed gas and a minimal quantity of pyrotechnic material. In comparison to pyrotechnic and stored gas inflators, hybrid inflators have various benefits.
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Start-up companies are contributing to the automotive airbag market growth by providing e-commerce platforms to distribute components and other features of these airbags:
The competition among key players in the automotive airbag market share is fierce. It is expected to increase owing to rapid technological developments that take place in the industry. Furthermore, the key players are increasing their investments in research and development (R&D) activities to offer more efficient and economical products to customers.
Recent developments:
The automotive airbag market is predicted to grow at a CAGR of 4.4% during the forecast period.
Various advancements in car passive safety systems, as well as a burgeoning desire for a safer, more efficient, and easier driving experience.
India is expected to hold a major share of the market, followed by Germany.
1. Executive Summary | Automotive Airbag Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Vehicle Type 5.1. Passenger Car 5.2. Light Commercial Vehicle 5.3. Heavy Commercial Vehicle 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product Type 6.1. Driver Airbag 6.2. Passenger Airbag 6.3. Side Airbag 6.4. Curtain Airbag 6.5. Knee Airbag 6.6. Other Airbags 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Coating Type 7.1. Neoprene 7.2. Silicone 7.3. Non-Coated 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Yarn Type 8.1. Nylon 8.2. Polyester 9. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Sales Channel 9.1. Original Equipment Manufacturers 9.2. Aftermarkets 10. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. Asia Pacific excluding Japan (APEJ) 10.6. Japan 10.7. Middle East and Africa (MEA) 11. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. Western Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Eastern Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. APEJ Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 16. Japan Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 17. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Autoliv Inc. 20.2. Takata Corporation 20.3. Daicel Corporation 20.4. Denso Corporation 20.5. Hyundai Mobis Co. Ltd. 20.6. Toyoda Gosei Co. Ltd. 20.7. ZF Friedrichshafen AG 20.8. Kolon Industries 20.9. Toray Industries Inc. 20.10. Porcher Industries SA 20.11. Nihon Plast Co. Ltd. 20.12. Delphi 20.13. Wacker Chemie AG 20.14. Hyosung Co. 20.15. Toyobo Co. Ltd. 21. Assumptions & Acronyms Used 22. Research Methodology
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Automotive Airbag Market
