Automotive Airbags Market By Airbag Type (Frontal Airbags, Side Airbags, Knee Airbags, Curtain Airbags), By Vehicle Type (Hatchback, SUV, LCV, HCV), By Component (Airbag Inflator, Impact Sensors, Indicator Lamp), Region For 2024-2031
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAutomotive Airbags Market Valuation – 2024-2031
As the people responsible for keeping us safe on the road, the top players in car safety have been around for a long time, making a huge difference in the car airbag market worldwide. These companies have been dedicated to saving lives for years, coming up with new technologies like the first seatbelt, pretensioners, side airbags, and knee airbags. They keep coming up with new ideas and leading the way in the fast-changing car industry, all with the goal of making cars safer for people inside and cutting down on how many people die in car crashes. Because of all this innovation and how quickly the car industry is changing, the market is expected to grow from $57,835.7 million in 2023 to a whopping $88,960.11 million by 2031.
Leading businesses’ ongoing efforts to roll out cutting-edge airbag and seatbelt innovations have further contributed to market expansion. Original Equipment Manufacturers (OEMs) and suppliers have been working to develop innovative products, and many have successfully differentiated their offerings from those of their competitors. These innovations can be implemented within milliseconds after a crash, further boosting market growth. Thus, the breakthrough airbag and seatbelt innovation is enabling the growth of market to grow at a CAGR of 6.10% from 2024 to 2031.
Automotive Airbags MarketDefinition/ Overview
Airbags, much like seatbelts, are a crucial component of vehicle safety restraint systems designed to mitigate injuries in the event of an accident. These gas-inflated cushions, which come in various sizes and shapes, are strategically placed in a car’s steering wheel, dashboard, door, roof, or seat. Utilizing a crash sensor, airbags activate a rapid expansion of nitrogen gas trapped within the cushion, creating a protective barrier between passengers and the vehicle’s hard surfaces upon impact.
Annually, more than 1.3 million people die in traffic accidents worldwide, and this number continues to rise. In response, governments globally have implemented stringent measures to reduce traffic fatalities. For instance, automotive manufacturers in regions like North America, Europe, China, Japan, Korea, and India are mandated to install a minimum number of frontal and side airbags in passenger vehicles. This regulatory push has significantly increased the demand for airbags, with SUVs—often equipped with more than four airbags on average—driving up manufacturing rates.
The primary function of an airbag is to provide soft cushioning and restraint for vehicle occupants during a collision, thereby reducing injuries caused by occupants colliding with the vehicle’s interior. Since 1999, the Federal government has mandated the installation of driver and passenger airbags for frontal impact protection in all cars, light trucks, and vans. These front airbags are designed to inflate in moderate to severe frontal crashes to prevent occupants’ heads and chests from hitting hard surfaces or structures within the vehicle.
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How the Increasing Transportation Activity and Government Initiative for Road Safety is Surging the Growth of the Automotive Airbag Market?
As the world's population grows and more people and goods need to be transported, the demand for vehicles has skyrocketed. More people have money to spend on their own stuff and the economy is booming. So, people are buying more cars and trucks to get around and to move things. Governments are also doing their part to make sure the roads are safe. They've made rules to protect people in car crashes, which has also helped the market for vehicles grow. And consumers are getting smarter about what they buy. They want cars with safety features like airbags and seatbelts. Governments in countries like China and India are updating their laws all the time to make sure the roads are safe.
Nowadays, we all want our cars to be safe, easy to drive, and comfy. That's why airbags are becoming more and more popular. As cars get better at protecting us in crashes, and people become more aware of how important it is to be safe on the road, the demand for airbags is increasing. We're also making more cars these days, and people are choosing to put airbags in all types of vehicles, even ones that don't usually have them. Some airbags are designed to protect specific areas, like our heads and chests, and drivers are asking for more and more of these special airbags. And because governments are making sure that we're all protected on the road, they're passing laws that require airbags in new cars.
In the coming years, the car airbag market is expected to grow rapidly. That's thanks to all the cool new airbag designs, like those that protect pedestrians, people in the back seat, outside the vehicle, and on the roof. Companies that make car airbags are constantly coming up with new and improved ways to keep us safe. And governments are making it easier for companies to do this by giving them money and tax breaks. Even in today's high-tech cars, airbags are still a must-have for protecting you in a crash. They work best when you use them together with seatbelts. Some of the leading airbag makers also sell other safety equipment, like seatbelts and steering wheels. They even have special safety systems for people on motorcycles and pedestrians.
Every year, thousands of lives are tragically cut short on our roads, with those walking, cycling, or riding on two wheels making up more than half of these victims. However, a ray of hope has emerged in the form of airbags. These clever devices have evolved significantly, offering not just protection in head-on collisions but also in side impacts that can cause serious injuries to the head and neck. This added layer of safety is especially crucial for those vulnerable road users who are often exposed to such collisions. The rise in airbag installations is not only due to their effectiveness but also to their versatility. They can be seamlessly integrated into different seating arrangements, allowing manufacturers to meet the stringent safety standards set by organizations like Euro NCAP. As people become more aware of the importance of car safety and technology, they are increasingly willing to invest in measures that protect themselves and their loved ones. This growing consumer demand is another driving force behind the expansion of the automotive airbag market. And the future looks even brighter. Exciting innovations like airbags for motorcycles are on the horizon, promising to make our roads safer for everyone.
How the Cost Constraints and Technical Challenges are Limiting the Growth of Automotive Airbag Market?
Affordability is a big deal, especially for people looking for cars that won't break the bank. But when it comes to safety features like airbags, the cost can make it hard for low-cost cars to have them. Carmakers often focus on making their vehicles as cheap as possible, which means they might not have the money to put in things like airbags. This creates a safety gap, where people in less expensive cars are at a higher risk if they get in an accident. Even if carmakers wanted to put airbags in all their cars, there are still some challenges to overcome. Things like sensors and quick-inflating airbags can be tricky to get just right, which can lead to airbags not working when they should or inflating too slowly. Sometimes, sensors can even mistake something for an accident and make the airbags go off when they shouldn't, which can scare people and cause small injuries. To top it all off, airbags have a bit of a dark secretthey contain a chemical called sodium azide, which is not very good for the environment. When airbags are disposed of, they need to be handled and thrown away in a special way to make sure they don't cause any harm.
Market saturation in developed economies presents another challenge. These regions might have already reached a high penetration rate of airbags in new vehicles, limiting further market growth. Moreover, there is a growing emphasis on active safety systems such as automatic emergency braking and lane departure warning. While these technologies help prevent accidents, they might shift some focus away from passive safety features like airbags.
To overcome these restraints, manufacturers and regulators can implement several strategies. Cost reduction initiatives, such as exploring innovative production methods and material alternatives, can reduce airbag manufacturing costs. Standardizing airbag designs across different vehicle models can streamline production and lower expenses. Governments can play a pivotal role by mandating the inclusion of airbags in all vehicles, including entry-level models, ensuring a baseline level of safety for all drivers and passengers. Additionally, offering tax breaks or subsidies to manufacturers developing advanced, affordable airbag technologies can incentivize innovation.
Technological advancements are crucial for addressing technical challenges. Continued research and development can lead to more reliable sensor technology, minimizing the risk of accidental deployments and ensuring timely activation during real collisions. Exploring biodegradable materials for airbag components can address environmental concerns related to end-of-life disposal.
Consumer education is also essential. Educating consumers about the importance of airbags and their role in reducing accident fatalities can create a stronger market demand for vehicles equipped with advanced safety features. By informing consumers, manufacturers can encourage the adoption of airbags, even in budget vehicles, ultimately enhancing overall road safety.
Category-Wise Acumens
How the Widespread Implementation of Driver Airbags is Fostering the Growth of Frontal Airbags Segment?
The frontal airbag segment is showing significant growth in the automotive airbags market. Frontal airbags are among the most basic and essential safety features in modern vehicles, deployed from the steering wheel and dashboard to protect the driver and front passenger’s head and chest during frontal collisions, which are the most common type of accidents. Many countries have mandated the inclusion of frontal airbags in all new vehicles, ensuring a baseline level of safety across the automotive market. The widespread implementation of driver airbags as standard equipment in every vehicle model has significantly boosted the growth of this segment.
Additionally, increasing safety concerns within the automotive industry have led to the installation of frontal passenger airbags, further propelling market growth. A notable example is the Indian government’s mandate in March 2021, which enforced the installation of frontal airbags in vehicles, thereby elevating segmental demand in the global market. This regulatory move underscores the critical importance of frontal airbags in enhancing vehicular safety.
The front automotive airbag segment is expected to experience rapid growth due to the rising incidence of head-on collisions. Frontal airbags play a crucial role in reducing casualties during such accidents by providing a protective barrier that prevents the driver and passenger from colliding with the vehicle’s hard structures. As a result, the increasing number of frontal crashes has led to a heightened focus on improving the effectiveness and deployment of front airbags, driving innovation and adoption in the market.
How the Passenger Safety and Reducing Severe Risk Injuries are Surging the Growth of Side Airbags Segment During the Forecast Period?
Side airbags segment is expected to be the fastest-growing segment in the automotive airbags market during the forecast period. In side collision crashes, side automotive airbags play a crucial role in protecting passengers’ necks and heads, significantly reducing the risk of severe injuries. These airbags are particularly effective in safeguarding passengers during rollover collisions, where the impact forces are substantial and the risk of injury is higher. As a result, the market for side airbags is expected to develop robustly due to these protective benefits.
Increase in safety awareness among consumers is a driving force behind the growing demand for side airbags. With a heightened understanding of the importance of side protection in collisions, more vehicle buyers prioritize models equipped with advanced side airbag systems. This trend is particularly notable as safety ratings and crash test results become more accessible and influential in consumer decision-making processes.
Technological advancements have also significantly contributed to the development of sophisticated side airbag systems. Innovations in sensor technology have enhanced the accuracy and responsiveness of airbag deployment, ensuring timely activation during side impacts. Additionally, improvements in airbag design have led to the creation of specialized airbags, such as torso-protecting side airbags and seat-mounted side airbags. These advancements provide comprehensive protection for different parts of the body, further enhancing passenger safety in side collisions.
The growing popularity of SUVs and trucks has also fueled the demand for side airbags. These vehicles, characterized by their taller stature, are inherently more susceptible to rollover accidents. In such scenarios, side airbags play a vital role in occupant protection by cushioning the impact and preventing passengers from colliding with the vehicle’s interior structures. As SUVs and trucks continue to dominate the market, the integration of side airbags in these vehicles becomes increasingly crucial for ensuring passenger safety.
How the High Number of Passenger Vehicles on Road is Fostering the Growth of Passenger Segment?
The passenger segment is showing significant growth in the automotive airbags market. Passenger cars, traditionally commanding the highest global sales volume, create a substantial market for airbags. The sheer number of passenger vehicles on the roads means that the demand for airbags in this segment is consistently robust. Additionally, many safety regulations worldwide are primarily targeted at passenger cars, mandating the inclusion of airbags to enhance occupant protection in these vehicles. This regulatory focus ensures that airbags are a standard safety feature in passenger cars, further driving market growth.
Hatchbacks and sedans often utilize standardized configurations for frontal, side, and potentially curtain airbags. These standardized setups streamline production and integration, allowing manufacturers to efficiently equip vehicles with the necessary safety systems. This efficiency not only helps in maintaining cost-effectiveness but also ensures that safety standards are uniformly met across different models.
Passenger cars are likely to remain the dominant segment in the near future, although their growth rate may decelerate as the SUV market matures. The government laws governing passenger safety are becoming increasingly stringent, which is anticipated to fuel the market expansion. As regulations evolve, the requirement for advanced safety features, including airbags, becomes more comprehensive, compelling manufacturers to equip their vehicles with state-of-the-art safety systems.
The adoption of passenger vehicles is also being bolstered by rising disposable income and the availability of simpler financing options. As consumers’ purchasing power increases, they are more inclined to invest in vehicles equipped with advanced safety features. Moreover, financing options that make car ownership more accessible contribute to higher sales volumes, further expanding the market for airbags.
Vehicle manufacturers are continually improving the performance of vehicle safety through various initiatives. Dual airbags, for example, have become a typical feature in the latest vehicle models offered by many manufacturers. These enhancements are not just a response to regulatory requirements but also a reflection of consumer demand for safer vehicles. As a result, the market for passenger car airbags is expected to continue its upward trajectory, driven by regulatory mandates, consumer preferences, and ongoing innovations in vehicle safety technology.
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Country/Region-wise Acumens
How the Increasing Concern of Safety and Rising Adoption of Compact Vehicles is Surging the Growth of Automotive Airbags Market in Asia Pacific?
Asia Pacific is a major prospective market for automobile production, the Asia-Pacific region is anticipated to experience rapid expansion shortly. Growing concerns about safety and the increasing adoption of compact vehicles have led to a rise in the use of safety devices, particularly automotive airbags. This trend is significantly driven by the presence of a prominent automotive industry in China, a country that stands out as a key player in the global market.
The increasing population and urbanization across Asia-Pacific are also significant factors propelling the automotive airbag market. China’s emergence as a global manufacturing hub has heightened the demand for passenger vehicles, supported by the availability of cheap labor and raw materials, which boosts the production of insulation products and other automotive components in the region. Consequently, the rise in vehicle production is anticipated to propel the automotive airbag market throughout the forecast period.
Additionally, the increasing demand for premium vehicles and the rapid rise of original equipment manufacturers (OEMs) in countries like China, India, and South Korea are further fueling the automotive airbag market in the region. Asia-Pacific is home to some of the world’s largest automotive manufacturers, including Toyota, Honda, and Hyundai. These companies collectively produce millions of vehicles annually, which drives the demand for automotive airbags and other safety devices in the region.
China’s significant role in the automotive industry, combined with factors such as economic growth, urbanization, and increasing consumer awareness about vehicle safety, makes it a crucial market for automotive airbag manufacturers. Moreover, the region’s robust manufacturing capabilities and the continuous influx of investments in automotive technology and safety standards contribute to the market’s expansion.
How the Increasing Government Regulations and Robust Technologies are Surging the Growth of the Automotive Airbags Market?
North America is substantially dominating the Automotive Airbags Market. Rising government regulations for automotive safety and standards, rapid acceptance of new technologies, and significant investment in product innovation are key drivers of the automotive airbag market. In North America, the stringent regulatory framework has mandated the inclusion of frontal airbags as standard equipment in all passenger automobiles and light commercial vehicles since 1998. This regulatory requirement ensures that vehicles meet essential safety standards, significantly enhancing occupant protection in the event of a frontal collision.
The expertise of key players in the United States extends well beyond airbag systems, encompassing a wide array of automotive solutions. These include module programming, engine ECU programming, DPF regenerations, injector programming, immobilizer programming, key programming, non-start diagnostics, engine ECU updates, calibrations, airbag installation, and airbag ECU repairs. This comprehensive skill set positions them as essential partners for automotive manufacturers, contributing to the overall enhancement of vehicle safety and performance.
Before airbags were legally mandated in the United States, certain significant market players were already pioneering the supply of airbags. Their continuous innovation in airbag textiles and adherence to the highest technical standards have established them as one of the most sought-after partners in the automotive industry. These market players utilize a wide range of yarn titers, from 110 to 940 dtex, in various structures, and their textiles range in width from 250 cm to 500 g/m2. The materials they produce meet diverse technical specifications and can be coated with various substrates, ensuring versatility and high performance.
In the United States, the requirement for passenger cars and light commercial vehicles to have airbags has been in place for years, reinforcing the commitment to vehicle safety. The National Highway Traffic Safety Administration (NHTSA) has implemented rigorous crash tests, such as the Oblique Moving Deformable Barrier (OMDB), which automakers must pass to achieve a 5-star safety certification. These stringent standards drive continuous improvement in airbag technology and vehicle safety features.
The development of new airbag modules in North America, combined with government-funded safety initiatives, is expected to drive significant growth in the European market during the forecast period. Additionally, the increasing demand for airbags and the rise in car sales are encouraging manufacturers of airbag raw materials to invest in the region by establishing manufacturing facilities. This investment is aimed at meeting the growing need for advanced safety systems and supporting the automotive industry’s expansion.
Competitive Landscape
The automotive airbag market is a mature industry with a well-established presence of leading global players. However, there’s also space for niche players focusing on specific technologies or regional markets. By understanding these competitive forces and emerging trends, companies in the automotive airbag market can develop strategies to stay ahead of the curve, deliver innovative safety solutions, and secure a strong position in this ever-evolving market.
The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the automotive airbags market includeAutoliv, Joyson Safety Systems, ZF Friedrichshafen, Robert Bosch, Continental, Aptiv, Denso, Hyundai Mobis, Toshiba Device Corporation, Toyoda Gosei
Automotive Airbags Market Latest Developments
- In June 2023, Autoliv China and NIO Inc. announced a partnership to develop a revolutionary airbag system that provides comprehensive protection across several seating positions. This breakthrough improves safety and provides more freedom in car interior design. Furthermore, the program uses biology-based materials for airbag cushions and seatbelt webbing.
- In October 2022, Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, established a plant to manufacture high-performance nylon yarn for vehicle airbags. Toyobo Indorama Advanced Fibers Co., Ltd. (TIAF), a joint venture between Indorama Ventures and Toyobo Co., Ltd, developed the new plant in Rayong, Thailand, in November 2020.
- In May 2022, ARC Automotive Inc., a prominent maker of inflation systems, announced cooperation with Yanfeng is a significant worldwide automobile supplier. The alliance established a joint venture to develop, produce, and commercialize vehicle airbag inflators.
- In March 2022, Autoliv cooperated with Nuro, an autonomous vehicle business, to provide high safety requirements for its
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