NEW YORK, June 18, 2024 /PRNewswire/ — The global automotive airbag sensor market size is estimated to grow by USD 227 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 6.22% during the forecast period. Production shift to low-cost countries is driving market growth, with a trend towards advancements in sensor technology. However, sharp decline in automobile production and sales poses a challenge. Key market players include Analog Devices Inc., Aptiv Plc, Ashimori Industry Co. Ltd., Autoliv Inc., Continental AG, Daicel Corp., DENSO Corp., Dorman Products Inc., HELLA GmbH and Co. KGaA, Hyundai Motor Group, Infineon Technologies AG, Magna International Inc., Mitsubishi Electric Corp., Nihon Plast Co. Ltd., Ningbo Joyson Electronics Corp., NXP Semiconductors NV, Robert Bosch GmbH, TaiHangChangQing Automobile Safety System Co. Ltd., Toyoda Gosei Co. Ltd., and ZF Friedrichshafen AG.
Technavio has announced its latest market research report titled Global automotive airbag sensor market 2024-2028
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Automotive Airbag Sensor Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.22% |
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Market growth 2024-2028 |
USD 227 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
5.76 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 59% |
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Key countries |
China, US, Japan, Germany, and South Korea |
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Key companies profiled |
Analog Devices Inc., Aptiv Plc, Ashimori Industry Co. Ltd., Autoliv Inc., Continental AG, Daicel Corp., DENSO Corp., Dorman Products Inc., HELLA GmbH and Co. KGaA, Hyundai Motor Group, Infineon Technologies AG, Magna International Inc., Mitsubishi Electric Corp., Nihon Plast Co. Ltd., Ningbo Joyson Electronics Corp., NXP Semiconductors NV, Robert Bosch GmbH, TaiHangChangQing Automobile Safety System Co. Ltd., Toyoda Gosei Co. Ltd., and ZF Friedrichshafen AG |
Market Driver
The automotive airbag sensor market is experiencing significant advancements, driven by manufacturers like Robert Bosch GmbH and Analog Devices Inc. These companies are developing more complex and efficient sensors, integrating technologies such as AI, machine learning, and sensor fusion. This results in improved accuracy and response times, as well as compact and lightweight designs. Companies invest heavily in R&D to meet regulatory requirements and consumer demand for advanced safety features, leading to the growth of the market.
The Automotive Airbag Sensor Market is experiencing significant growth due to the increasing demand for safety features in vehicles. According to recent reports, the market is expected to continue this trend in the coming years. These sensors play a crucial role in detecting crashes and deploying airbags accordingly. Advanced technologies such as radar and ultrasonic sensors are being used to improve the accuracy and reliability of these systems. Additionally, the integration of machine learning algorithms is enabling predictive maintenance and diagnostics, further enhancing the value proposition of automotive airbag sensors. The market is also witnessing increased competition, with key players focusing on product innovation and cost reduction to gain a competitive edge. Overall, the Automotive Airbag Sensor Market is poised for steady growth in the coming years.
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Market Challenges
The Global Automotive Airbag Sensor Market is currently facing a significant challenge due to the decline in automobile production and sales. This trend negatively impacts the demand for airbag sensors, posing a considerable hurdle for manufacturers and suppliers. The decrease in automotive production in countries like Germany, the UK, China, India, Japan, and the US, has led to increased inventory costs for Original Equipment Manufacturers (OEMs), compelling some to temporarily halt production. The COVID-19 pandemic further exacerbated this issue, causing a decline in sales and production across regions. As a result, the demand for automotive components and accessories, including airbag sensors, has reduced, hampering the growth of the global automotive airbag sensor market.
The Automotive Airbag Sensor Market faces several challenges. The use of advanced technologies like radar and ultrasonic sensors for airbag deployment requires significant investment. Components such as microelectronics and pressure sensors add to the cost. Additionally, stringent safety regulations demand high-performance sensors with precise accuracy and reliability. The need for miniaturization and integration of multiple sensors into a single module also poses challenges. Furthermore, the increasing popularity of electric and autonomous vehicles necessitates the development of sensors compatible with these technologies. The competition among market players further intensifies the challenges. However, the growing demand for safety features in vehicles offers significant opportunities for market growth.
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Segment Overview
This automotive airbag sensor market report extensively covers market segmentation by
Application
1.1 Passenger cars
1.2 LCVs
1.3 MCVs and HCVs
End-user
2.1 OEMs
2.2 Aftermarket
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1 Passenger cars- The Automotive Airbag Sensor Market is experiencing significant growth due to increasing demand for passenger safety. These sensors detect crash conditions and deploy airbags accordingly. Major automobile manufacturers prioritize airbag safety features, driving market expansion. Additionally, advancements in sensor technology enhance airbag performance and reliability. Overall, the Automotive Airbag Sensor Market is a vital component in the automotive industry’s ongoing commitment to safety.
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Research Analysis
The Automotive Airbag Sensor Market encompasses the production and supply of sensors used in the deployment of airbags in vehicles. These sensors, which include mechanical and electrical types, are integral to ensuring passenger safety in the event of a fatal accident. The market’s growth is influenced by the increasing demand for last-mile connectivity and the transportation of lightweight construction materials, leading to an increase in vehicle production. Per capita income plays a role in market expansion as more individuals are able to afford vehicles. Various types of airbags, such as side, knee, rear, and front airbags, require specific sensors for activation. Impact sensors, pressure sensors, and brake sensors are among the semiconductor devices used in airbag systems. The mode of sensors can be mechanical or electrical, with mechanical sensors detecting impact through physical means and electrical sensors using electrical signals.
Market Research Overview
The Automotive Airbag Sensor Market encompasses the production, supply, and installation of sensors used in airbag systems for passenger safety in vehicles. These sensors detect crashes and deploy airbags accordingly, ensuring the safety of vehicle occupants. The market is driven by increasing vehicle production and stringent safety regulations. Technological advancements, such as the integration of multiple sensors and the development of smart airbag systems, are also fueling market growth. Additionally, the growing trend towards electric and autonomous vehicles is expected to create new opportunities in the market. The demand for cost-effective and reliable airbag sensors is a key challenge for market participants. The market is segmented by sensor type, vehicle type, and region.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Passenger Cars
LCVs
MCVs And HCVs
End-user
OEMs
Aftermarket
Geography
APAC
Europe
North America
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio