Automotive Airbag Market (Component: Airbag Inflator, Diagnostic Monitoring Unit, Crash Sensor, and Others; Seat Configuration: Single Row Configuration, Lounge Configuration, Double Row Configuration, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2030

The global Automotive Airbag market was valued at USD 50.14 billion in 2022 and it is expected to hit around USD 85.9 billion by 2030 with a CAGR of 7.4% during the forecast period 2023 to 2030.

Automotive airbags are vehicle passenger restraint systems that help protect the head and chest of the passenger in case of vehicle collision or crash. The airbags are designed in a way that they respond and inflate in milliseconds, providing a cushioning effect to vehicle passengers. The automotive airbags market is estimated to expand consistently during the forecast period. The enactment of stringent regulations pertaining to occupant safety in vehicles across the globe is anticipated to drive the global automotive airbag market. For instance, in the U.S., front airbags are mandatory since 1998 on both passenger and driver side. Increasing awareness about safety features among the population across the globe is another prominent factor boosting the global automotive airbag market. Automakers are providing airbag as a feature in their vehicles in order to attract more number of consumers to purchase their vehicles. This, in turn, is anticipated to further propel the global automotive airbag market.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Automotive Airbag market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Automotive Airbag market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Automotive Airbag Market Report Scope

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Automotive Airbag market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Drivers of Automotive Airbag Market

Rise in traffic congestion and increase in vehicle density in larger cities coupled with human error during driving are anticipated to increase the probability of vehicle collision. Consumers are demanding vehicles with advanced safety features in order to be prepared for such unforeseen scenarios. The number of people buying cars that provide safety while compromising little on mileage is increasing globally. Rise in demand for safety in vehicles is compelling automakers to incorporate advanced safety features in their vehicles. For instance, majority of vehicles is currently being installed with parking assistance, adaptive headlights, emergency braking, forward collision warning, and different type of airbags, among other features.

Technological advancements by market players, which enhance vehicle passenger safety, is driving the market. For instance, in March 2020, HYUNDAI MOBIS announced that it had successfully developed a roof airbag, which prevents passengers from being ejected out of the sunroof and getting injured in case of a rollover accident.

Challenges for Automotive Airbag Market

Long-term exposure to high heat and humidity can cause these airbags to explode when deployed. Such explosions have caused injuries and deaths. For instance, in the U.S., wrongful deployment of airbags has led to the death of 22 people. This, in turn, has resulted in vehicle recalls, in which automakers identify vehicles using the vehicle identification number (VIN) and check for damaged airbags.

However, such vehicle recalls affect the consumer trust and hamper brand image. For instance, The National Highway Traffic Safety Administration, (NHSTA) U.S. advised consumers to not drive 2001-2003 Honda and Acura, 2006 Ford Ranger, and Mazda B-Series vehicles, which were equipped Takata company’s airbags. NHSTA advised to replace airbags in these vehicles, as these vehicles were at a far higher risk for an airbag explosion that could injure or kill vehicle occupants. Therefore, vehicle recalls owing to airbag malfunction are expected to hamper the market.

Significant Market Participants Operational in the Automotive Airbag Market are:

The global automotive airbag market include Aptiv Inc., Autoliv Inc., Calsonic Kansei Corporation (Mareli), Continental AG, Delphi Automotive, Denso Corporation, Hella GmbH & Co. KGaA, Hyundai Mobis Co. Ltd, INVISTA, Joyson Safety Systems, Magna International, Nihon Plastic Company Co. Ltd, Robert Bosch GmbH, Takata Corporation, Toyota Gosei, Valeo SA, and ZF Friedrichshafen.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2018 to 2030 and covers subsequent region in its scope:

Global Automotive Airbag Market: Segmentation

Automotive Airbag Market, by Application

• Frontal Position
• Side Position
• Side Curtains
• Rear Position
• Knee Position

Automotive Airbag Market, by Component

• Airbag Inflator
• Diagnostic Monitoring Unit
• Crash Sensor
• Others

Automotive Airbag Market, by Vehicle Type

• Passenger Vehicle
• Commercial Vehicle
• Electric Vehicle

Automotive Airbag Market, by Seat Configuration

• Single Row Configuration
• Lounge Configuration
• Double Row Configuration
• Others

Automotive Airbag Market, by Fabric

• Coated
• Non-coated

Automotive Airbag Market, by Material

• Polyester Fiber
• Nylon
• Others

Automotive Airbag Market, by Sales Channel

• OEM
•  
• Aftermarket

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2018-2023) and forecast (2023-2030)
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.