Automotive Airbags Market, By Vehicle Type (Passenger, Commercial, Electric, Construction, Farm Trac

Published Date: June 2019 | Report Code : AT2058750

X

The Global Automotive Airbags Market is projected to reach USD 391.2 million by 2028, growing at a CAGR of 14.5% during the forecast period.

Automotive Airbags Market

Automotive Airbags Market

An airbag is a vehicle safety device. It is a restraining device that quickly inflates during a vehicle collision and restrains the passenger from hitting the driving wheel, mirrors, etc. Airbags are meant to work best in combination with seatbelts and are not supplementary, but complementary to each other. Most designs are inflated using pyrotechnics and can only be used once.

The increasing number of on-road accidents are causing customers and manufacturers in the automobile industry to give more importance to vehicle safety. Also, several government initiatives have supported the compulsory incorporation of airbags in vehicles. This has been witnessed in developing regions with initiatives from countries such as India. Several awareness campaigns are also being conducted by organizations such as the National Automobile Dealers Association(NADA) to raise awareness about the life-saving capabilities of airbags.

Automotive Airbags Market

Automotive Airbags Market

Several technological advancements in the safe deployment of airbags are also expected to boost the demand for airbags thereby fuelling the automotive airbags market during the forecast period. Manufacturers are developing smart airbags with sensors to prevent injuries that are caused by airbags themselves. These sensors analyze the passenger’s weight and position to calculate the intensity of deployment from the airbag compartment.

Based on the airbag type, the automotive airbags market is segmented into a front bag, knee bag, side bag, curtain bag, and others. Front bags are expected to have the most prominent demand during the forecast period. Front bags are standard safety features in most cars as the chances of the driver and the front passenger getting seriously injured are higher than the ones sitting behind. According to National Highway Traffic Safety Administration (NHTSA), from 1987 to 2015, front driver airbags saved around 44,869 lives in the U.S. The “Porsche 944 Turbo” of the year 1987 was the first car equipped with dual front airbags for the driver as well as co-passenger.

The passenger vehicle segment is expected to lead the automotive airbags market on the basis of vehicle type. The increasing demand for passenger vehicles worldwide is expected to be one of the major reasons for this prominent market share. According to the International Organization of Motor Vehicle Manufacturers (OICA), the sale of passenger cars worldwide increased from 49,650,336 in 2009 to 70,849,466 in 2017 and is expected to increase further. Commercial vehicles also held a significant share in the automotive airbags market due to a high number of crashes involving heavy-duty vehicles. According to the Federal Motor Carrier Safety Administration (FMCSA), in 2015, around 415,000 commercial vehicles reported crashed leading to over 3,800 fatalities. The high number of accidents is causing manufacturers to incorporate better and more advanced safety features.

Europe is expected to hold a significant share of the automotive airbags market due to the presence of many major automobile manufacturers like Ford, BMW, Dailmer, Fiat, etc. Also, the regulations involving vehicle safety are very stringent in many countries in Europe and is also expected to boost the automotive airbags market in this region. Similarly, even North America is expected to have a prominent share in the automotive airbags market. The Asia Pacific region is expected to grow the fastest owing to the increasing vehicle safety regulations which are recently being implemented and also the increasing demand for vehicles due to urbanization and the rise in disposable income in countries like India and China.

Key Factors Impacting the Growth of Automotive AirbagsMarket:

  • Government regulations pertaining to vehicle safety
  • Growing demand and awareness for safer vehicles
  • Technological advancements in airbag deployment
  • Growth of the automobile industry
  • Increasing incorporation in commercial vehicles due to rising fatalities.

Key Developments in the Automotive Airbags:

  • In February 2018, a group of 13 automakers contributed as much as USD 130 million to compensate those injured by faulty Takata Corp airbag inflators in order to resolve the bankruptcy of the Japanese company.
  • In January 2019, Continental (Germany) announced to expand the fabrication unit in India to manufacture airbag control units.
  • In June 2019, ZF Friedrichschafen (Germany) launched the world’s first pre-crash external side airbag system.

What Does This Report Provide?

This report provides a detailed understanding of the global Automotive Airbags Market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with a potential impact on the automotive airbags market during the forecast period and an in-depth analysis of the leading companies operating in the automotive airbags market.

Market Segmentation:

By Vehicle Type:

  • Passenger
  • Commercial
  • Electric
  • Construction
  • Farm Tractors
  • Others

By Airbag Type:

  • Front Bag
  • Knee Bag
  • Side Bag
  • Curtain Bag
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Vehicle Type
    • By Airbag Type
  • Western Europe
    • By Country (Germany, UK, France, Spain, Rest of Western Europe)
    • By Vehicle Type
    • By Airbag Type
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Vehicle Type
    • By Airbag Type
  • Asia Pacific
    • By Country (China, Japan, India, Rest of Asia Pacific)
    • By Vehicle Type
    • By Airbag Type
  • Middle East
    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
    • By Vehicle Type
    • By Airbag Type
  • Rest of the World
    • By Region (South America, Africa)
    • By Vehicle Type
    • By Airbag Type

Companies Covered: Major Companies profiled in the report which are key players in the global automotive airbags market include Robert Bosch GmbH, Takata Corporation, Hyundai Mobis, Toyoda Gosei Co. Ltd., Denso Corporation, Friedrichschafen AG, Autoliv Inc., TRW Automotive Holdings Corp., and Delphi Automotive...

Years Considered In The Study

Historic Year

2016, 2017

Base Year

2018

Forecast Period

2019-2028 

CAGR % (2019-2028)

14.5%

Reasons to Buy This Report:

  • Market size estimation of the global Automotive Airbags Market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

For more information, contact: [email protected]

License Offering

Single User (PDF)

3850

Multi User (PDF)

5150

Enterprise User (PDF)

7650

Get Regional Report USD 2000 Only

Your personal details are secure. Privacy Policy

Buy Chapters of Sections

Avail customized purchase options to meet your exact research needs.

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities
Detailed Coverage

Detailed scope covering all the major segments in the market

Meticulous Data Validations

In line data validations to ensure data precision

Recommendations

Market recommendations supporting decision making processes

Analyst Support

Round the clock analyst support to resolve your queries

Free Customization

Up to 15% additional free customization to meet your specific requirements

15% Free Customization

Share your Requirements

Questions?  Speak to an Analyst

Your personal details are secure. Privacy Policy