The Automotive Airbag Market is witnessing high growth owing to rising road fatalities globally and stringent safety norms enacted by various governments. As per WHO, road traffic injuries claim around 1.35 million lives each year. This has prompted regulatory authorities to make six airbags mandatory for passenger vehicles. Furthermore, growing demand for luxury and high-end vehicles that offer advanced driver assistance systems for enhanced safety is also fueling market growth. Introduction of new technologies such as knee airbags, side curtain airbags and driver monitoring systems will further support market expansion through 2031.

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Market Drivers

Stringent government regulations on vehicle safety is driving the automotive airbag market

Governments across the world have mandated that new vehicles must be equipped with advanced safety systems like airbags to minimize injuries in the event of an accident. Strict norms by regulatory bodies like NCAP have increased the testing standards for airbag deployment and protection. This has compelled automakers to upgrade their vehicles with more sophisticated airbag technologies to pass the tests. The implementation of safety rating programs has also created demand for additional and improved airbags from consumers who want high vehicle safety ratings.

Growing demand for luxury vehicles is fueling investments in advanced airbag solutions

Luxury car buyers have higher expectations when it comes to comfort, technology and safety features. To attract these customers, premium automakers are focusing on developing innovative airbag technologies that enhance occupant protection. Features like side curtain airbags, driver knee airbags and inflatable seatbelts are being integrated as standard in luxury models. The rising sales of luxury vehicles globally is encouraging suppliers to invest more in the research and development of next-gen airbag systems tailored for premium vehicles. This technical advancement is also percolating to mainstream automakers aiming to offer luxury-styled safety features in their high-end models.

Key Company Profiles:

Major players operating in the global automotive airbag market are Autoliv, Inc., Robert Bosch GMBH, Continental AG, Delphi Automotive PLC, Denso Corporation, Takata Corporation, Toyoda Gosei Co., Ltd., Nihon Plast Co. Ltd., Hyundai Mobis Co., Ltd., and Key Safety Systems Inc.

This Report lets you identify the opportunities in Automotive Airbag Market by means of a region:

⦿ North America (the United States, Canada, and Mexico)
⦿ Europe (Germany, UK, France, Italy, Russia and Turkey, etc.)
⦿ Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
⦿ South America (Brazil etc.)
⦿ The Middle East and Africa (North Africa and GCC Countries)

High costs associated with developing and manufacturing new airbag technologies poses challenges

Designing advanced airbag solutions involving multi-stage inflation mechanisms, sensors and electronic control units requires huge investments in R&D. Manufacturing such complex airbag modules within strict quality and reliability standards also adds to production expenses. The additional costs incurred are often passed on to the OEMs, increasing vehicle prices. While manufacturers aim to bring down costs through economies of scale and technological progress over time, the initial high costs pose a significant restraint especially for price-sensitive automakers and customers in cost-focused markets. Tight profit margins make it difficult to integrate the latest, most expensive airbag technologies across all vehicle segments.

Market Opportunity

Growing electric vehicle sales present an opportunity for smart airbag technologies

As governments push for cleaner mobility with incentives and regulations, electric vehicle sales are picking up pace globally. However, EVs have fewer mechanical parts compared to internal combustion engine vehicles, posing unique engineering challenges. This has opened up opportunities for suppliers to develop smart and connected airbag technologies tailored for EVs. Features like sensing intelligent driver/passenger positions using ultrasonic sensors, and monitoring battery voltage/current readings to deploy airbags accordingly based on crash scenarios present a huge potential. Integrating such smart airbag solutions can help address EV safety concerns and boost consumer confidence in safety ratings.

Market Trends

Adoption of advanced driver-assistance systems is driving the integration of smarter airbag technologies

Automakers are focusing on integrating advanced driver-assistance systems (ADAS) like automatic emergency braking, lane keep assist in new vehicles. Such technologies require sensors that can accurately detect collisions and pre-crash situations. This is paving way for the development of smart multi-stage driver/passenger airbags that can control inflation based on ADAS sensor inputs regarding crash angles, severity levels. Combining airbag control units with ADAS also enables remote software upgrades. The growing adoption of ADAS will drive investments in intelligent airbag solutions with embedded connectivity capabilities going forward. Over-the-air technology updates can further enhance safety features, satisfying consumer and regulatory demands for continual improvements.

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Research Scope

Scope – Highlights, Trends, Insights. Attractiveness, Forecast

Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others

Market Dynamics – Automotive Airbag Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain

Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments

Competitive Landscape – Automotive Airbag Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
Key questions answered in the report include:

ᗒ How Automotive Airbag Market industry market will boom in 2024?

ᗒ which are prominent key players will be growing the market?

ᗒ Which enterprise size accounted for the largest data center colocation market share?

ᗒ What is the Compound Annual Growth Rate(CAGR) of the market during the forecast period (2024-2031)?

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