ALBANY, N.Y., Aug. 17, 2021 /PRNewswire/ — Global Automotive Airbag Market: Overview
Automotive airbags refer to passenger restraint devices in vehicles that assist in protecting the passenger’s chest and head in the event of a crash or a collision. The airbags are designed to act and expand in milliseconds, providing a cushioning for the occupants in the car. During the forecast period, from 2021 to 2031, the global automotive airbag market is expected to grow steadily. The market is expected to be driven by the implementation of strict occupant safety standards in cars throughout the world. Another major element driving the global automotive airbag market is improving public awareness regarding safety features. Automakers are including airbags as a standard feature in their automobiles in order to persuade more people to buy them. As a result, the global automotive airbag market is anticipated to grow even faster.
In 2020, the global automotive airbag market was valued over US$ 12.1 Bn. The market is projected to grow at a CAGR of 8% during the forecast period.
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Key Findings of Market Report
- Next-generation Sensor Technology to Reduce Risk of Airbag Injury
With the development of sensors in cars to glean data that guarantees various control units communicate better, the automotive airbag market is expected to experience considerable shift in the near future. These control units include belt tensioners, airbags, and other vehicle features that can quickly detect an imminent collision.
Honda, a Japan-based automaker, has collaborated with Autoliv, a Swedish airbag producer, to reduce the likelihood of injuries in a variety of collisions. The key to gaining a competitive advantage over other manufacturers in the automobile airbag industry is to invest in research and development activities. They are stepping up their efforts to put the airbag closer to the passenger in order to reduce the risk of airbag injuries.
- Sedan Manufacturers Leverage Business Opportunities Created by New Rear Seat Airbags
In the automotive airbag market, rear seat airbags are a game-changing invention. The new Mercedes S-Class is gaining popularity as a result of its one-of-a-kind back seat airbags, which cushion passengers in the event of a frontal collision. Companies in the automotive airbag market are drawing inspiration from such advancements to expand their research into sedan-specific rear seat airbags. Airbag manufacturers and automakers are expected to work together to provide safe sedans with improved overall ergonomics, such as inflated seat belts and addition of kid seats. Airbag systems that can be put at the rear of the front seat are seeing increased production by companies.
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Automotive Airbag Market: Growth Drivers
- Vehicle density in larger cities and increased traffic congestion, along with human errors while driving, are expected to raise the risk of car accidents. In order to be ready for such unforeseeable circumstances, customers are demanding automobiles with enhanced safety measures. The increased demand for automobile safety is pressuring automakers to include sophisticated safety technologies in their vehicles.
- Industry players are leading the market with technical innovations that improve vehicle passenger safety. Development and design of new automotive airbag systems that considerably lower the likelihood of damage to vehicle occupants in the event of a vehicle collision are being pursued by key industry participants.
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Automotive Airbag Market: Key Competitors
Some of the key market players are
- Robert Bosch GmbH
- Hella GmbH & Co. KGaA
- Nihon Plastic Company Co. Ltd
- Calsonic Kansei Corporation (Mareli)
- Hyundai Mobis Co. Ltd
- Denso Corporation
Automotive Airbag Market: Segmentation
Application
- Frontal Position
- Side Position
- Side Curtains
- Rear Position
- Knee Position
Component
- Airbag Inflator
- Diagnostic Monitoring Unit
- Crash Sensor
Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Electric Vehicle
Seat Configuration
- Single Row Configuration
- Lounge Configuration
- Double Row Configuration
Fabric
- Coated
- Non-coated
Material
- Polyester Fiber
- Nylon
Sales Channel
- OEM
- Aftermarket
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