According to the report by Expert Market Research (EMR), the global automotive airbags market size is projected to grow at a CAGR of 9.57% between 2024 and 2032. Aided by the stringent safety regulations and increasing vehicle production, the market is expected to grow significantly by 2032.
Automotive airbags are essential safety features designed to protect occupants in the event of a collision. Deploying within milliseconds, these airbags cushion passengers from impact, significantly reducing the risk of serious injuries. They have become a standard feature in modern vehicles, with various types including frontal, side, knee, and curtain airbags.
The primary catalyst of the automotive airbags market demand is the increasing emphasis on vehicle safety. Global safety regulations mandating airbags in vehicles have been a significant driver. Additionally, consumer awareness and preference for safety features have led to a rise in demand for advanced airbag systems.
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The automotive industry’s evolution, particularly the rise in production of electric and autonomous vehicles, also contributes to the automotive airbags market growth. These new vehicle types demand innovative airbag solutions due to their unique design and safety requirements.
Technological advancements play a crucial role in the automotive airbag market. Innovations include the development of more sophisticated sensors for precise deployment, airbags with varied inflation rates to suit the severity of the collision, and the integration of airbags into unconventional locations like seatbelts and dashboards for enhanced protection.
Another significant automotive airbags market trend is the development of environmentally friendly airbag systems, which use sustainable materials and production methods. Additionally, as vehicles become more connected, the integration of airbags with other safety systems through advanced electronics is enhancing overall vehicle safety.
The Asia-Pacific region, led by China and India, is a rapidly growing market due to the increase in vehicle production and adoption of safety standards. North America and Europe continue to be key markets, driven by stringent safety regulations and high consumer awareness about vehicle safety.
Looking forward, the automotive airbags market outlook is further likely to be influenced by various factors. The ongoing innovation in vehicle safety, along with the advent of autonomous vehicles, will likely drive the demand for more advanced and adaptable airbag systems. The industry is also expected to witness collaborations between automotive manufacturers and airbag system providers to develop tailored solutions for new vehicle designs.
Automotive Airbags Market Segmentation
The market can be divided based on airbag type, vehicle type, sales channel, and region.
Market Breakup by Airbag Type
- Knee
- Front
- Curtain and Side
- Others
Market Breakup by Vehicle Type
- Passenger Cars
- Commercial Vehicle
- Others
Market Breakup by Sales Channel
- OEM
- Aftermarket
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Automotive Airbags Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive airbags market. Some of the major players explored in the report by Expert Market Research are as follows:
- Joyson Safety Systems Aschaffenburg GmbH
- Autoliv Inc.
- TOYODA GOSEI Co., Ltd.
- ZF Friedrichshafen AG
- Others
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